Owlet, Inc. (NYSE:OWLT) Stock Now Rated “Hold” by Sell-Side Analysts

Owlet, Inc. (NYSE:OWLT) has been given a consensus rating of “Hold” by the five ratings firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $15.00.

OWLT has been the subject of several research analyst reports. Wall Street Zen upgraded shares of Owlet from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Weiss Ratings upgraded Owlet from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, September 25th.

Institutional Trading of Owlet

Hedge funds have recently made changes to their positions in the company. Eclipse Operations LLC purchased a new position in shares of Owlet in the second quarter valued at $44,202,793. Granahan Investment Management LLC raised its stake in shares of Owlet by 72.8% during the 1st quarter. Granahan Investment Management LLC now owns 1,186,655 shares of the company’s stock valued at $6,099,000 after purchasing an additional 499,906 shares during the period. AWM Investment Company Inc. purchased a new stake in Owlet during the 2nd quarter worth about $7,034,000. Walleye Capital LLC purchased a new stake in Owlet during the 1st quarter worth about $343,000. Finally, FNY Investment Advisers LLC lifted its holdings in Owlet by 2,070.8% during the 2nd quarter. FNY Investment Advisers LLC now owns 75,979 shares of the company’s stock worth $436,000 after purchasing an additional 72,479 shares in the last quarter. 72.60% of the stock is currently owned by institutional investors.

Owlet Trading Down 0.4%

Shares of Owlet stock opened at $4.34 on Friday. The business’s fifty day simple moving average is $4.64 and its 200 day simple moving average is $6.15. Owlet has a 12 month low of $4.02 and a 12 month high of $16.94. The firm has a market capitalization of $126.84 million, a P/E ratio of -5.79 and a beta of 2.17.

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

About Owlet

Owlet, Inc. (NYSE: OWLT) is a pediatric digital health company focused on helping parents monitor infant health, wellness and sleep. The company develops connected products that collect and communicate information through wearable sensors and mobile applications, with the goal of providing parents with greater visibility into their child’s well-being. Owlet’s product portfolio includes the Dream Sock, a wearable infant monitor designed to track metrics such as sleep, pulse rate and blood oxygen levels, as well as the Owlet Cam, a connected video and audio baby monitor.