Brokerages Set Owlet, Inc. (NYSE:OWLT) PT at $14.25

Shares of Owlet, Inc. (NYSE:OWLT) have earned a consensus rating of “Moderate Buy” from the six brokerages that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $14.25.

A number of analysts recently issued reports on OWLT shares. William Blair initiated coverage on Owlet in a research report on Tuesday, December 9th. They issued an “outperform” rating for the company. Zacks Research raised shares of Owlet from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 19th. Northland Securities set a $20.00 target price on shares of Owlet and gave the stock an “outperform” rating in a report on Tuesday, December 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Owlet in a research note on Thursday, January 22nd. Finally, TD Cowen reiterated a “buy” rating on shares of Owlet in a report on Thursday, January 8th.

Insider Activity at Owlet

In other news, CEO Jonathan Harris sold 2,311 shares of the company’s stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $13.33, for a total transaction of $30,805.63. Following the transaction, the chief executive officer owned 264,396 shares of the company’s stock, valued at approximately $3,524,398.68. This represents a 0.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 52.20% of the company’s stock.

Hedge Funds Weigh In On Owlet

A number of institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. purchased a new stake in shares of Owlet in the first quarter valued at approximately $43,000. XTX Topco Ltd bought a new stake in Owlet during the 2nd quarter valued at $90,000. Marshall Wace LLP purchased a new stake in shares of Owlet in the 2nd quarter worth $336,000. Archon Capital Management LLC bought a new position in shares of Owlet during the 2nd quarter worth $442,000. Finally, Next Century Growth Investors LLC purchased a new position in shares of Owlet during the second quarter valued at $1,653,000. 72.60% of the stock is owned by hedge funds and other institutional investors.

Owlet Trading Up 3.6%

Shares of NYSE:OWLT opened at $11.36 on Wednesday. The company has a market cap of $193.98 million, a price-to-earnings ratio of -3.85 and a beta of 1.77. Owlet has a 12 month low of $2.75 and a 12 month high of $16.94. The company has a 50-day moving average price of $14.04 and a 200 day moving average price of $10.56.

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. The company had revenue of $31.99 million for the quarter, compared to analysts’ expectations of $26.00 million. As a group, equities analysts forecast that Owlet will post -0.76 EPS for the current year.

Owlet Company Profile

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.