Owlet, Inc. $OWLT Shares Purchased by Granahan Investment Management LLC

Granahan Investment Management LLC boosted its position in Owlet, Inc. (NYSE:OWLT) by 72.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,186,655 shares of the company’s stock after buying an additional 499,906 shares during the period. Granahan Investment Management LLC’s holdings in Owlet were worth $6,099,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of OWLT. Goldman Sachs Group Inc. acquired a new stake in shares of Owlet in the 1st quarter worth $43,000. Bank of America Corp DE increased its stake in shares of Owlet by 6,517.7% during 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. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Owlet during the fourth quarter worth about $60,000. XTX Topco Ltd purchased a new position in Owlet during the second quarter worth about $90,000. Finally, State of Wyoming acquired a new stake in Owlet in the first quarter valued at about $220,000. Hedge funds and other institutional investors own 72.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on OWLT shares. Weiss Ratings cut Owlet from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 4th. TD Cowen reissued a “buy” rating and issued a $10.00 price target (down from $13.00) on shares of Owlet in a report on Monday, June 22nd. Finally, Wall Street Zen upgraded Owlet from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 10th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Owlet presently has a consensus rating of “Hold” and a consensus target price of $15.00.

Owlet Price Performance

Shares of NYSE:OWLT opened at $5.26 on Friday. The firm has a market capitalization of $152.88 million, a price-to-earnings ratio of -1.71 and a beta of 1.84. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.71 and a quick ratio of 1.33. The business’s 50 day simple moving average is $5.44 and its 200-day simple moving average is $7.64. Owlet, Inc. has a 12 month low of $4.19 and a 12 month high of $16.94.

Owlet (NYSE:OWLT) last posted its earnings results on Thursday, May 7th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.09. The business had revenue of $22.46 million for the quarter, compared to analysts’ expectations of $20.84 million. As a group, equities analysts forecast that Owlet, Inc. will post -0.37 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.