Harbor Capital Advisors Inc. Sells 284,679 Shares of Owlet, Inc. $OWLT

Harbor Capital Advisors Inc. trimmed its holdings in Owlet, Inc. (NYSE:OWLT) by 70.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,581 shares of the company’s stock after selling 284,679 shares during the period. Harbor Capital Advisors Inc.’s holdings in Owlet were worth $996,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. XTX Topco Ltd bought a new position in Owlet during the 2nd quarter worth $90,000. Goldman Sachs Group Inc. bought a new stake in shares of Owlet during the 1st quarter valued at $43,000. Marshall Wace LLP acquired a new stake in shares of Owlet during the 2nd quarter worth $336,000. Archon Capital Management LLC acquired a new stake in shares of Owlet during the 2nd quarter worth $442,000. Finally, Next Century Growth Investors LLC bought a new position in shares of Owlet in the second quarter worth $1,653,000. Institutional investors and hedge funds own 72.60% of the company’s stock.

Owlet Trading Up 1.9%

Shares of OWLT stock opened at $15.56 on Friday. The firm has a market capitalization of $265.76 million, a price-to-earnings ratio of -5.27 and a beta of 1.80. The business’s 50-day moving average price is $11.83 and its 200-day moving average price is $9.29. Owlet, Inc. has a 12 month low of $2.75 and a 12 month high of $16.82.

Owlet (NYSE:OWLT) last issued its quarterly earnings data on Thursday, November 13th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.26. Owlet had a negative net margin of 39.32% and a negative return on equity of 0.36%. The business had revenue of $31.99 million during the quarter, compared to analyst estimates of $26.00 million. On average, sell-side analysts predict that Owlet, Inc. will post -0.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

OWLT has been the subject of several recent analyst reports. William Blair began coverage on shares of Owlet in a research report on Tuesday, December 9th. They set an “outperform” rating for the company. Northland Securities set a $15.50 price target on shares of Owlet in a research note on Friday, November 14th. Zacks Research raised shares of Owlet from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Owlet in a research report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Owlet from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Owlet currently has a consensus rating of “Buy” and an average target price of $12.00.

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.