Owlet, Inc. (NYSE:OWLT) Receives $15.00 Consensus PT from Analysts

Owlet, Inc. (NYSE:OWLT) has earned a consensus rating of “Hold” from the five research firms that are presently covering the firm, Marketbeat reports. One 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 12 month price objective among analysts that have covered the stock in the last year is $15.00.

Several research analysts recently issued reports on OWLT shares. Weiss Ratings downgraded 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 set a $10.00 price target (down from $13.00) on shares of Owlet in a research report on Monday, June 22nd. Finally, Wall Street Zen raised Owlet from a “strong sell” rating to a “sell” rating in a report on Sunday, May 10th.

Institutional Trading of Owlet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OWLT. Informed Momentum Co LLC boosted its stake in shares of Owlet by 1.6% during the 4th quarter. Informed Momentum Co LLC now owns 112,893 shares of the company’s stock worth $1,828,000 after purchasing an additional 1,737 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Owlet in the fourth quarter valued at approximately $60,000. Perkins Capital Management Inc. lifted its stake in shares of Owlet by 3.9% during the first quarter. Perkins Capital Management Inc. now owns 106,095 shares of the company’s stock valued at $545,000 after buying an additional 3,990 shares during the period. Harbor Capital Advisors Inc. boosted its position in Owlet by 3.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 121,741 shares of the company’s stock worth $1,971,000 after acquiring an additional 4,160 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in 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 last quarter. Hedge funds and other institutional investors own 72.60% of the company’s stock.

Owlet Price Performance

NYSE:OWLT traded up $0.18 during mid-day trading on Friday, hitting $6.09. 197,395 shares of the company’s stock traded hands, compared to its average volume of 216,225. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.33 and a current ratio of 1.71. The company has a market cap of $177.06 million, a PE ratio of -1.98 and a beta of 1.84. The firm’s 50 day simple moving average is $5.38 and its 200 day simple moving average is $8.32. Owlet has a 1 year low of $4.19 and a 1 year high of $16.94.

Owlet (NYSE:OWLT) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.09. The business had revenue of $22.46 million during the quarter, compared to analysts’ expectations of $20.84 million. Sell-side analysts expect that Owlet will post -0.37 EPS for the current 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.