Short Interest in Owlet, Inc. (NYSE:OWLT) Expands By 33.7%

Owlet, Inc. (NYSE:OWLT) was the target of a large growth in short interest in the month of December. As of December 31st, there was short interest totaling 564,783 shares, a growth of 33.7% from the December 15th total of 422,275 shares. Based on an average trading volume of 353,269 shares, the days-to-cover ratio is presently 1.6 days. Currently, 6.9% of the company’s stock are sold short. Currently, 6.9% of the company’s stock are sold short. Based on an average trading volume of 353,269 shares, the days-to-cover ratio is presently 1.6 days.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on OWLT. Cowen reiterated a “buy” rating on shares of Owlet in a research report on Thursday, January 8th. William Blair started coverage on Owlet in a report on Tuesday, December 9th. They issued an “outperform” rating for the company. Northland Securities set a $20.00 price objective on Owlet and gave the company an “outperform” rating in a report on Tuesday, December 30th. Zacks Research raised shares of Owlet from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 19th. Finally, Wall Street Zen raised Owlet from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $14.25.

Institutional Trading of Owlet

A number of large investors have recently bought and sold shares of OWLT. Granahan Investment Management LLC raised its position in Owlet by 135.9% during the 3rd quarter. Granahan Investment Management LLC now owns 509,904 shares of the company’s stock worth $4,319,000 after buying an additional 293,771 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Owlet by 86.3% in the third quarter. Vanguard Group Inc. now owns 389,840 shares of the company’s stock valued at $3,302,000 after buying an additional 180,619 shares in the last quarter. Next Century Growth Investors LLC purchased a new position in Owlet during the 2nd quarter valued at about $1,653,000. Archon Capital Management LLC purchased a new stake in shares of Owlet in the second quarter valued at about $442,000. Finally, Marshall Wace LLP purchased a new stake in Owlet in the 2nd quarter valued at approximately $336,000. Institutional investors and hedge funds own 72.60% of the company’s stock.

Owlet Stock Up 0.6%

NYSE OWLT traded up $0.09 on Monday, reaching $13.69. The stock had a trading volume of 228,352 shares, compared to its average volume of 298,423. The firm has a market capitalization of $233.74 million, a price-to-earnings ratio of -4.64 and a beta of 1.78. The stock has a fifty day moving average price of $13.74 and a two-hundred day moving average price of $10.14. Owlet has a 12-month low of $2.75 and a 12-month high of $16.94.

Owlet (NYSE:OWLT) last released its earnings results on Thursday, November 13th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.26. The firm had revenue of $31.99 million for the quarter, compared to analysts’ expectations of $26.00 million. Sell-side analysts forecast that Owlet will post -0.76 earnings per share for the current fiscal year.

About Owlet

Owlet Baby Care, Inc is a consumer health technology company specializing in the design and manufacture of smart baby monitoring products. The company’s flagship device, the Owlet Smart Sock, is a wearable monitor that tracks a newborn’s heart rate and oxygen saturation levels and transmits real-time data to a mobile app. Owlet has since expanded its product suite to include the Owlet Cam, an HD video monitor with audio and motion alerts, and the Dream Sock, a non-wearable device that collects sleep metrics to help parents understand and improve their baby’s rest patterns.

Founded in 2013 by engineer and father Kurt Workman, Owlet is headquartered in Lehi, Utah.