Owlet, Inc. (NYSE:OWLT) Receives Average Recommendation of “Hold” from Brokerages

Owlet, Inc. (NYSE:OWLT) has been assigned a consensus rating of “Hold” from the five analysts that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $20.00.

A number of brokerages have recently commented on OWLT. Wall Street Zen raised Owlet from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 10th. Zacks Research lowered Owlet from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 2nd. TD Cowen reissued a “buy” rating on shares of Owlet in a research note on Friday, March 6th. Finally, Weiss Ratings lowered Owlet from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 4th.

Owlet Stock Performance

Owlet stock opened at $4.66 on Tuesday. Owlet has a 12-month low of $4.19 and a 12-month high of $16.94. The company has a quick ratio of 1.33, a current ratio of 1.71 and a debt-to-equity ratio of 0.09. The business’s 50-day moving average price is $5.33 and its two-hundred day moving average price is $9.46. The stock has a market cap of $135.11 million, a PE ratio of -1.52 and a beta of 1.85.

Owlet (NYSE:OWLT) last released its earnings results on Thursday, May 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.09. The business had revenue of $22.46 million during the quarter, compared to the consensus estimate of $20.84 million. As a group, analysts expect that Owlet will post -0.37 earnings per share for the current fiscal year.

Institutional Trading of Owlet

A number of hedge funds have recently made changes to their positions in the company. Informed Momentum Co LLC boosted its stake in shares of Owlet by 1.6% during the fourth quarter. Informed Momentum Co LLC now owns 112,893 shares of the company’s stock valued at $1,828,000 after purchasing an additional 1,737 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Owlet during the fourth quarter valued at about $60,000. Perkins Capital Management Inc. lifted its stake in shares of Owlet by 3.9% in the first quarter. Perkins Capital Management Inc. now owns 106,095 shares of the company’s stock worth $545,000 after acquiring an additional 3,990 shares during the period. Harbor Capital Advisors Inc. lifted its stake in shares of Owlet by 3.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 121,741 shares of the company’s stock worth $1,971,000 after acquiring an additional 4,160 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of Owlet by 6,517.7% in the third quarter. Bank of America Corp DE now owns 5,228 shares of the company’s stock worth $44,000 after acquiring an additional 5,149 shares during the period. 72.60% of the stock is owned by institutional investors and hedge funds.

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.