Owlet, Inc. (NYSE:OWLT) Receives Consensus Recommendation of “Hold” from Brokerages

Owlet, Inc. (NYSE:OWLT) has received an average recommendation of “Hold” from the five analysts that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $15.00.

Several brokerages have recently issued reports on OWLT. Wall Street Zen raised Owlet from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. TD Cowen reiterated a “buy” rating and set a $10.00 price target (down from $13.00) on shares of Owlet in a research report on Monday, June 22nd. Finally, Weiss Ratings downgraded Owlet from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, September 10th.

Hedge Funds Weigh In On Owlet

Several large investors have recently made changes to their positions in the company. Eclipse Operations LLC purchased a new stake in Owlet during the second quarter worth $44,202,793. AWM Investment Company Inc. purchased a new position in Owlet in the second quarter valued at $7,034,000. Granahan Investment Management LLC increased its holdings in Owlet by 72.8% in the first quarter. Granahan Investment Management LLC now owns 1,186,655 shares of the company’s stock valued at $6,099,000 after buying an additional 499,906 shares in the last quarter. Manatuck Hill Partners LLC acquired a new position in shares of Owlet in the fourth quarter worth about $1,619,000. Finally, Meros Investment Management LP acquired a new position in shares of Owlet in the fourth quarter worth about $1,302,000. 72.60% of the stock is currently owned by institutional investors and hedge funds.

Owlet Price Performance

OWLT stock opened at $5.21 on Thursday. The firm’s fifty day simple moving average is $5.26 and its 200-day simple moving average is $5.36. The company has a market capitalization of $152.09 million, a P/E ratio of -6.94 and a beta of 1.90. Owlet has a 12 month low of $4.19 and a 12 month high of $16.94.

Owlet (NYSE:OWLT) last issued its earnings results on Tuesday, August 11th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.04. Owlet had a negative net margin of 8.61% and a negative return on equity of 601.24%. The firm had revenue of $33.87 million during the quarter, compared to analysts’ expectations of $31.71 million. As a group, sell-side analysts forecast that Owlet will post -0.25 earnings per share for the current year.

Owlet Company Profile

Owlet Inc is a digital health and connected-care company focused on infant monitoring. The company develops products intended to help parents monitor babies’ sleep and wellness from home, combining wearable sensors, cameras, mobile applications and data-driven notifications.

Its product portfolio includes the Dream Sock, a wearable infant monitor designed to track measurements such as sleep, pulse rate and oxygen levels, as well as the Owlet Cam, which provides video and audio monitoring.