Owlet, Inc. (NYSE:OWLT) Receives $20.00 Consensus Target Price from Brokerages

Shares of Owlet, Inc. (NYSE:OWLT) have been assigned a consensus recommendation of “Hold” from the five analysts that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $20.00.

OWLT has been the topic of several recent research reports. Wall Street Zen lowered shares of Owlet from a “hold” rating to a “sell” rating in a report on Saturday, March 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Owlet in a report on Tuesday. TD Cowen reaffirmed a “buy” rating on shares of Owlet in a report on Friday, March 6th. Northland Securities set a $20.00 target price on shares of Owlet and gave the company an “outperform” rating in a report on Tuesday, December 30th. Finally, Zacks Research lowered shares of Owlet from a “strong-buy” rating to a “hold” rating in a report on Monday, March 2nd.

Owlet Price Performance

Shares of NYSE:OWLT opened at $5.25 on Monday. The company’s fifty day moving average price is $7.10 and its 200-day moving average price is $10.43. The firm has a market capitalization of $147.90 million, a price-to-earnings ratio of -1.94 and a beta of 2.00. Owlet has a one year low of $3.44 and a one year high of $16.94. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.85 and a quick ratio of 1.51.

Owlet (NYSE:OWLT) last issued its quarterly earnings results on Thursday, March 5th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.10. The company had revenue of $26.55 million during the quarter, compared to the consensus estimate of $26.01 million. On average, equities research analysts anticipate that Owlet will post -0.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Owlet

Several institutional investors and hedge funds have recently made changes to their positions in OWLT. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Owlet in the 4th quarter worth $60,000. Bank of America Corp DE grew its holdings in Owlet by 6,517.7% in the 3rd quarter. Bank of America Corp DE now owns 5,228 shares of the company’s stock worth $44,000 after acquiring an additional 5,149 shares during the last quarter. XTX Topco Ltd bought a new stake in Owlet in the 2nd quarter worth $90,000. Goldman Sachs Group Inc. bought a new stake in Owlet in the 1st quarter worth $43,000. Finally, Charles Schwab Investment Management Inc. bought a new stake in Owlet in the 4th quarter worth $242,000. Institutional investors own 72.60% of the company’s stock.

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.