Granahan Investment Management LLC Grows Stock Position in Owlet, Inc. $OWLT

Granahan Investment Management LLC boosted its position in Owlet, Inc. (NYSE:OWLT) by 34.7% in the 4th quarter, HoldingsChannel reports. The firm owned 686,749 shares of the company’s stock after purchasing an additional 176,845 shares during the period. Granahan Investment Management LLC’s holdings in Owlet were worth $11,118,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Eclipse Operations LLC acquired a new position in Owlet in the 4th quarter valued at about $124,677,000. AWM Investment Company Inc. acquired a new position in Owlet in the 4th quarter valued at about $28,304,000. Next Century Growth Investors LLC raised its stake in Owlet by 18.4% in the 4th quarter. Next Century Growth Investors LLC now owns 484,908 shares of the company’s stock valued at $7,851,000 after purchasing an additional 75,408 shares during the last quarter. Vanguard Group Inc. raised its stake in Owlet by 86.3% in the 3rd quarter. Vanguard Group Inc. now owns 389,840 shares of the company’s stock valued at $3,302,000 after purchasing an additional 180,619 shares during the last quarter. Finally, Bleichroeder LP raised its stake in Owlet by 14.8% in the 4th quarter. Bleichroeder LP now owns 310,000 shares of the company’s stock valued at $5,019,000 after purchasing an additional 40,000 shares during the last quarter. Institutional investors and hedge funds own 72.60% of the company’s stock.

Owlet Stock Down 4.6%

Shares of NYSE:OWLT opened at $4.44 on Wednesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.33 and a current ratio of 1.71. Owlet, Inc. has a 1 year low of $4.19 and a 1 year high of $16.94. The stock has a market capitalization of $128.88 million, a P/E ratio of -1.45 and a beta of 1.85. The stock has a 50-day simple moving average of $5.31 and a 200-day simple moving average of $9.32.

Owlet (NYSE:OWLT) last issued its earnings results on Thursday, May 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.09. The firm had revenue of $22.46 million for the quarter, compared to analysts’ expectations of $20.84 million. Equities analysts forecast that Owlet, Inc. will post -0.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

OWLT has been the subject of several analyst reports. Zacks Research downgraded shares of Owlet from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 2nd. Weiss Ratings downgraded shares of Owlet from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. TD Cowen reissued a “buy” rating on shares of Owlet in a research note on Friday, March 6th. Finally, Wall Street Zen raised shares of Owlet from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 10th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Owlet has an average rating of “Hold” and a consensus target price of $20.00.

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.