Amanda Crawford Sells 6,892 Shares of Owlet (NYSE:OWLT) Stock

Owlet, Inc. (NYSE:OWLT) CFO Amanda Crawford sold 6,892 shares of the stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $11.50, for a total value of $79,258.00. Following the completion of the sale, the chief financial officer directly owned 212,800 shares in the company, valued at $2,447,200. This represents a 3.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Owlet Stock Up 1.7%

OWLT stock traded up $0.08 during mid-day trading on Thursday, reaching $4.94. The company had a trading volume of 211,452 shares, compared to its average volume of 310,038. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.51 and a current ratio of 1.85. The company has a market capitalization of $139.19 million, a price-to-earnings ratio of -1.82 and a beta of 2.00. The firm has a fifty day simple moving average of $6.75 and a 200 day simple moving average of $10.36. Owlet, Inc. has a fifty-two week low of $3.78 and a fifty-two week high of $16.94.

Owlet (NYSE:OWLT) last posted its quarterly earnings results on Thursday, March 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.10. The company had revenue of $26.55 million during the quarter, compared to analyst estimates of $26.01 million. Analysts forecast that Owlet, Inc. will post -0.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

OWLT has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Owlet in a research report on Tuesday, April 21st. Wall Street Zen lowered Owlet from a “hold” rating to a “sell” rating in a research report on Saturday, March 14th. TD Cowen reissued a “buy” rating on shares of Owlet in a research report on Friday, March 6th. Finally, Zacks Research lowered Owlet from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 2nd. Three 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’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $20.00.

Institutional Investors Weigh In On Owlet

Hedge funds and other institutional investors have recently made changes to their positions in the business. Granahan Investment Management LLC increased its position in Owlet by 135.9% during the third quarter. Granahan Investment Management LLC now owns 509,904 shares of the company’s stock worth $4,319,000 after buying an additional 293,771 shares during the period. Manatuck Hill Partners LLC acquired a new position in Owlet during the fourth quarter worth approximately $1,619,000. 683 Capital Management LLC acquired a new position in Owlet during the fourth quarter worth approximately $1,133,000. Meros Investment Management LP acquired a new position in Owlet during the fourth quarter worth approximately $1,302,000. Finally, Next Century Growth Investors LLC increased its position in Owlet by 18.4% during the fourth quarter. Next Century Growth Investors LLC now owns 484,908 shares of the company’s stock worth $7,851,000 after buying an additional 75,408 shares during the period. Institutional investors and hedge funds own 72.60% of the company’s stock.

Key Stories Impacting Owlet

Here are the key news stories impacting Owlet this week:

• Neutral Sentiment: Multiple small insider “sell-to-cover” transactions by company executives are routine and largely intended to cover tax withholding on vested awards; these reduce the negative signal versus open-market deliberate divestitures. Representative filing for several of the CFO’s trades is here: SEC Filings (CFO)
• Negative Sentiment: Large insider sale by CEO Kurt Workman — he sold 49,056 shares ( ~11.4% reduction at the time) in October, a sizable block that can be interpreted negatively by investors even if described as tax-related. Filing: Workman SEC Filing
• Negative Sentiment: Significant sales by other senior executives — CEO Jonathan Harris sold 12,676 shares on Feb. 26 (material size) and CFO Amanda Crawford sold 6,892 shares on Feb. 27; both transactions were disclosed as covering tax withholding but reduce insider ownership and can pressure sentiment. Harris filing: Harris SEC Filing — Crawford filing: Crawford SEC Filing
• Negative Sentiment: Analyst preview (Zacks) expects Q1 earnings to decline, signaling downside to near-term fundamentals and raising the risk of an earnings miss or guidance cut — this is a direct negative pressure on valuation and near-term sentiment. Earnings Preview: Zacks

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.