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

Owlet, Inc. (NYSE:OWLT) has been assigned an average rating of “Hold” from the five research firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $15.00.

OWLT has been the topic of several research reports. Weiss Ratings cut shares of Owlet from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 4th. TD Cowen reaffirmed a “buy” rating and issued a $10.00 price objective (down from $13.00) on shares of Owlet in a research note on Monday, June 22nd. Finally, Wall Street Zen raised shares of Owlet from a “strong sell” rating to a “sell” rating in a report on Sunday, May 10th.

Institutional Trading of Owlet

A number of institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE boosted its position in Owlet by 446.1% during the 1st quarter. Bank of America Corp DE now owns 96,241 shares of the company’s stock valued at $495,000 after buying an additional 78,619 shares during the period. Granahan Investment Management LLC raised its holdings in Owlet by 72.8% in the 1st quarter. Granahan Investment Management LLC now owns 1,186,655 shares of the company’s stock worth $6,099,000 after purchasing an additional 499,906 shares in the last quarter. Walleye Capital LLC purchased a new stake in Owlet in the first quarter worth about $343,000. State of Wyoming purchased a new position in shares of Owlet in the 1st quarter valued at approximately $220,000. Finally, Perkins Capital Management Inc. boosted its holdings in shares of Owlet by 3.9% during the 1st quarter. Perkins Capital Management Inc. now owns 106,095 shares of the company’s stock valued at $545,000 after buying an additional 3,990 shares in the last quarter. Hedge funds and other institutional investors own 72.60% of the company’s stock.

Owlet Stock Up 0.5%

OWLT stock opened at $5.79 on Friday. The company’s 50 day moving average is $5.32 and its 200 day moving average is $8.58. The stock has a market cap of $168.23 million, a price-to-earnings ratio of -1.89 and a beta of 1.84. The company has a current ratio of 1.71, a quick ratio of 1.33 and a debt-to-equity ratio of 0.09. Owlet has a 1-year low of $4.19 and a 1-year high of $16.94.

Owlet (NYSE:OWLT) last announced its earnings results on Thursday, May 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.09. The company had revenue of $22.46 million for the quarter, compared to the consensus estimate of $20.84 million. Sell-side analysts predict that Owlet will post -0.37 EPS for the current fiscal year.

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.