Owlet (NYSE:OWLT) Downgraded by Wall Street Zen to “Strong Sell”

Wall Street Zen lowered shares of Owlet (NYSE:OWLT) from a sell rating to a strong sell rating in a report published on Saturday morning.

Several other research firms have also commented on OWLT. TD Cowen reissued a “buy” rating on shares of Owlet in a research report on Friday, March 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Owlet in a research report on Tuesday, April 21st. Finally, Zacks Research lowered Owlet from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 2nd. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $20.00.

Owlet Trading Down 2.4%

OWLT opened at $4.82 on Friday. The firm has a market cap of $135.73 million, a price-to-earnings ratio of -1.78 and a beta of 1.84. The company has a current ratio of 1.85, a quick ratio of 1.51 and a debt-to-equity ratio of 0.13. Owlet has a 12 month low of $3.86 and a 12 month high of $16.94. The stock has a fifty day moving average price of $6.63 and a 200-day moving average price of $10.33.

Owlet (NYSE:OWLT) last released its quarterly earnings results on Thursday, March 5th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.10. The company had revenue of $26.55 million during the quarter, compared to the consensus estimate of $26.01 million. As a group, equities research analysts anticipate that Owlet will post -0.63 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Jonathan Harris sold 12,676 shares of the company’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $11.50, for a total transaction of $145,774.00. Following the transaction, the chief executive officer directly owned 339,336 shares of the company’s stock, valued at $3,902,364. This represents a 3.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Amanda Crawford sold 6,892 shares of the company’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $11.50, for a total value of $79,258.00. Following the transaction, the chief financial officer directly owned 212,800 shares in the company, valued at $2,447,200. This represents a 3.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 23,108 shares of company stock worth $262,733 over the last ninety days. 52.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Owlet during the 4th quarter valued at about $60,000. Bank of America Corp DE increased its holdings 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 valued at $44,000 after purchasing an additional 5,149 shares during the period. XTX Topco Ltd acquired a new position in shares of Owlet in the second quarter valued at about $90,000. Goldman Sachs Group Inc. acquired a new position in shares of Owlet in the first quarter valued at about $43,000. Finally, Charles Schwab Investment Management Inc. acquired a new position in shares of Owlet in the fourth quarter valued at about $242,000. 72.60% of the stock is owned by institutional investors and hedge funds.

Owlet News Summary

Here are the key news stories impacting Owlet this week:

• Positive Sentiment: Owlet reported a better-than-expected March quarter (EPS -$0.03 vs. -$0.13 consensus; revenue $26.55M vs. $26.01M), which supports near‑term confidence that revenue and margins may stabilize. MarketBeat: Owlet quarter beat
• Positive Sentiment: Large institutional buyers have added stakes recently (several funds disclosed increased positions), leaving institutional ownership high — a constructive backdrop for liquidity and potential price support. MarketBeat: Institutional holdings
• Neutral Sentiment: Executives continue to sell shares, but filings repeatedly state sales were to cover tax withholding on vested awards (routine pretext). The activity is disclosed across multiple Form 4 filings; investors should note these are recurring, not necessarily opportunistic. SEC Form 4 filings
• Negative Sentiment: A Zacks earnings preview warns Owlet lacks the setup for a Q1 beat and expects earnings to decline; if Q1 results or guidance disappoint, that could put renewed downward pressure on the stock despite the recent quarter’s outperformance. Zacks: Q1 earnings preview

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.