Wall Street Zen Upgrades Owlet (NYSE:OWLT) to “Buy”

Owlet (NYSE:OWLT) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

Other equities analysts also recently issued research reports about the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Owlet in a research report on Wednesday, October 8th. Northland Securities set a $15.50 price target on shares of Owlet in a report on Friday. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Owlet currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

Owlet Price Performance

Owlet stock opened at $10.50 on Friday. Owlet has a 1-year low of $2.75 and a 1-year high of $11.61. The firm has a market capitalization of $179.32 million, a P/E ratio of -3.56 and a beta of 1.83. The company’s 50-day moving average is $8.62 and its 200 day moving average is $7.54.

Owlet (NYSE:OWLT) last announced its earnings results on Thursday, November 13th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.26. Owlet had a negative return on equity of 0.36% and a negative net margin of 39.32%.The business had revenue of $31.99 million during the quarter, compared to analyst estimates of $26.00 million. Owlet has set its FY 2025 guidance at EPS. Research analysts anticipate that Owlet will post -0.76 earnings per share for the current fiscal year.

Institutional Trading of Owlet

Institutional investors and hedge funds have recently made changes to their positions in the company. Next Century Growth Investors LLC bought a new position in Owlet during the 2nd quarter worth about $1,653,000. Vanguard Group Inc. boosted its stake in shares of Owlet by 86.3% during the third 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 in the last quarter. Harbor Capital Advisors Inc. increased its holdings in Owlet by 70.0% during the second quarter. Harbor Capital Advisors Inc. now owns 402,260 shares of the company’s stock valued at $3,379,000 after buying an additional 165,657 shares during the period. Archon Capital Management LLC purchased a new position in Owlet during the second quarter valued at approximately $442,000. Finally, Marshall Wace LLP bought a new position in Owlet in the second quarter worth approximately $336,000. 72.60% of the stock is currently owned by institutional investors.

About Owlet

Owlet, Inc provides digital parenting solutions in the United States and internationally. The company's platform focuses on giving real-time data and insights to parents. It offers Dream Sock, a wearable infant health monitor equipped with pulse oximetry technology to track vitals signs, such as pulse rate, oxygen, activity, and sleep patterns; BabySat which is intended for infants with heightened health risk; Owlet Cam, a monitoring device in smartphones that offers video and audio, predictive sleep insights, and cry detections; and accessories, including Owlet Sleeper, as well as Duo and Dream Duo that combines Smart Sock with the Owlet Cam.