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

Owlet, Inc. (NYSE:OWLT) has earned an average recommendation of “Hold” from the five analysts that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $15.00.

A number of brokerages recently weighed in 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. Weiss Ratings downgraded shares of Owlet from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, September 10th. Finally, Wall Street Zen upgraded Owlet from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th.

Hedge Funds Weigh In On Owlet

Several institutional investors have recently added to or reduced their stakes in OWLT. SkyView Investment Advisors LLC bought a new stake in Owlet in the 2nd quarter worth approximately $115,000. Hillsdale Investment Management Inc. purchased a new stake in Owlet during the fourth quarter valued at $424,000. State of Wyoming bought a new position in Owlet during the first quarter valued at $220,000. Potomac Capital Management Inc. bought a new position in Owlet during the fourth quarter valued at $939,000. Finally, Walleye Capital LLC purchased a new position in shares of Owlet in the 1st quarter worth $343,000. Hedge funds and other institutional investors own 72.60% of the company’s stock.

Owlet Trading Up 3.8%

NYSE:OWLT opened at $4.71 on Thursday. The stock has a 50-day moving average price of $5.33 and a 200 day moving average price of $5.55. The stock has a market capitalization of $137.68 million, a P/E ratio of -6.28 and a beta of 1.90. Owlet has a 12-month low of $4.19 and a 12-month high of $16.94.

Owlet (NYSE:OWLT) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.04. Owlet had a negative return on equity of 601.24% and a negative net margin of 8.61%.The business had revenue of $33.87 million during the quarter, compared to the consensus estimate of $31.71 million. On average, research analysts predict that Owlet will post -0.25 earnings per share for the current fiscal year.

Owlet Company Profile

Owlet Inc is a digital health and connected-care company focused on infant monitoring. The company develops products intended to help parents monitor babies’ sleep and wellness from home, combining wearable sensors, cameras, mobile applications and data-driven notifications.

Its product portfolio includes the Dream Sock, a wearable infant monitor designed to track measurements such as sleep, pulse rate and oxygen levels, as well as the Owlet Cam, which provides video and audio monitoring.