Owlet, Inc. (NYSE:OWLT) Given Consensus Recommendation of "Hold" by Analysts

Key Points

• Analysts give Owlet a consensus “Hold” rating: Of five analysts, three recommend buying, one rates it a hold and one recommends selling. The average 12-month price target is $15, versus the stock’s recent $4.55 price.
• Owlet shares have declined 1.9% and trade near their 12-month low, with a market capitalization of approximately $133 million. The company reported quarterly revenue of $33.87 million and an adjusted loss of $0.05 per share, beating analyst estimates.
• Institutional ownership stands at 72.6%: Several investment firms recently initiated or increased positions, including Eclipse Operations, AWM Investment Company and Granahan Investment Management.

Owlet, Inc. (NYSE:OWLT - Get Free Report) has been assigned an average rating of "Hold" from the five brokerages that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $15.00.

A number of research analysts have recently commented on the company. Weiss Ratings downgraded Owlet from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Thursday, September 10th. Wall Street Zen upgraded shares of Owlet from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. Finally, TD Cowen reaffirmed a "buy" rating and set a $10.00 price target (down from $13.00) on shares of Owlet in a research note on Monday, June 22nd.

Owlet Trading Down 1.9%

Shares of OWLT stock opened at $4.55 on Thursday. The stock has a market capitalization of $132.98 million, a price-to-earnings ratio of -6.07 and a beta of 1.90. Owlet has a 12-month low of $4.19 and a 12-month high of $16.94. The stock's 50-day moving average price is $5.38 and its 200-day moving average price is $5.60.

Owlet (NYSE:OWLT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.05) EPS for the quarter, beating analysts' consensus estimates of ($0.09) by $0.04. Owlet had a negative return on equity of 601.24% and a negative net margin of 8.61%.The company had revenue of $33.87 million during the quarter, compared to analyst estimates of $31.71 million. As a group, research analysts predict that Owlet will post -0.25 EPS for the current fiscal year.

Institutional Trading of Owlet

A number of large investors have recently made changes to their positions in OWLT. Eclipse Operations LLC bought a new stake in shares of Owlet in the 2nd quarter valued at approximately $44,202,793. AWM Investment Company Inc. purchased a new position in shares of Owlet in the 2nd quarter worth approximately $7,034,000. Granahan Investment Management LLC increased its position in shares of Owlet by 72.8% during the 1st quarter. Granahan Investment Management LLC now owns 1,186,655 shares of the company's stock valued at $6,099,000 after purchasing an additional 499,906 shares during the last quarter. Manatuck Hill Partners LLC bought a new position in shares of Owlet during the 4th quarter valued at approximately $1,619,000. Finally, Meros Investment Management LP purchased a new stake in Owlet during the 4th quarter valued at $1,302,000. 72.60% of the stock is currently owned by institutional investors.

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.

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