Owlet, Inc. (NYSE:OWLT) Given Average Rating of “Hold” by Analysts

Shares of Owlet, Inc. (NYSE:OWLT) have been given an average rating of “Hold” by the five brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $15.00.

Several research firms recently commented on OWLT. TD Cowen restated a “buy” rating and set a $10.00 target price (down from $13.00) on shares of Owlet in a research report on Monday, June 22nd. Wall Street Zen upgraded Owlet from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 10th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Owlet in a research report on Friday.

Hedge Funds Weigh In On Owlet

A number of institutional investors have recently made changes to their positions in OWLT. Goldman Sachs Group Inc. purchased a new stake in shares of Owlet during the 1st quarter valued at $43,000. XTX Topco Ltd purchased a new position in Owlet in the second quarter worth $90,000. Marshall Wace LLP purchased a new position in Owlet in the second quarter worth $336,000. Vanguard Group Inc. increased its stake in 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 acquiring an additional 180,619 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in Owlet by 6,517.7% in the third quarter. Bank of America Corp DE now owns 5,228 shares of the company’s stock valued at $44,000 after acquiring an additional 5,149 shares during the last quarter. Institutional investors own 72.60% of the company’s stock.

Owlet Price Performance

Shares of NYSE:OWLT opened at $5.33 on Wednesday. The company has a 50 day moving average of $5.37 and a 200 day moving average of $7.09. The company has a current ratio of 1.71, a quick ratio of 1.33 and a debt-to-equity ratio of 0.09. The stock has a market cap of $154.77 million, a P/E ratio of -1.73 and a beta of 1.85. Owlet has a 12 month low of $4.19 and a 12 month high of $16.94.

Owlet (NYSE:OWLT) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.09. The firm had revenue of $22.46 million during the quarter, compared to the consensus estimate of $20.84 million.

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.