Owlet (NYSE:OWLT) Rating Lowered to Hold at Zacks Investment Research

Owlet (NYSE:OWLT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday, Zacks.com reports.

According to Zacks, “Owlet Baby Care Inc. provides digital parenting platform aims to give parents real-time data and insights to help parents feel more calm and confident. Owlet Baby Care Inc., formerly known as Sandbridge Acquisition Corporation, is based in LOS ANGELES. “

A number of other brokerages also recently issued reports on OWLT. Bank of America downgraded shares of Owlet from a “buy” rating to a “neutral” rating and cut their price target for the stock from $8.50 to $5.50 in a report on Tuesday, October 5th. Citigroup cut their price target on shares of Owlet from $12.00 to $5.00 and set a “neutral” rating for the company in a report on Wednesday, October 6th.

OWLT stock opened at $2.22 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.78 and a quick ratio of 2.60. Owlet has a 12 month low of $2.18 and a 12 month high of $11.56. The company has a 50-day simple moving average of $3.47.

Owlet (NYSE:OWLT) last released its quarterly earnings data on Tuesday, November 16th. The company reported ($0.13) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.07). The business had revenue of $31.51 million for the quarter. On average, sell-side analysts expect that Owlet will post -0.61 earnings per share for the current year.

Large investors have recently bought and sold shares of the stock. EMC Capital Management purchased a new position in shares of Owlet during the 3rd quarter worth approximately $84,000. Amazon com Inc purchased a new position in shares of Owlet during the 3rd quarter worth approximately $2,759,000. Morgan Stanley purchased a new position in shares of Owlet during the 3rd quarter worth approximately $52,000. Cubist Systematic Strategies LLC purchased a new position in shares of Owlet during the 3rd quarter worth approximately $491,000. Finally, Geode Capital Management LLC purchased a new position in shares of Owlet during the 3rd quarter worth approximately $2,895,000. 11.24% of the stock is owned by hedge funds and other institutional investors.

Owlet Company Profile

Sandbridge Acquisition Corporation have entered into a definitive merger agreement with Owlet Baby Care Inc

Featured Story: Hold Rating

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