Owlet, Inc. (NYSE:OWLT) Stock Now Rated "Hold" by Sell-Side Brokerages

Key Points

• Owlet has a consensus “Hold” rating from five analysts: three rate it Buy, one Hold, and one Sell. The average 12-month price target is $15.
• The stock opened at $4.24, near its 12-month low of $4.02, and is down 6.3%; its 50-day and 200-day moving averages are $4.68 and $6.29, respectively.
• In its latest quarter, Owlet reported a loss of $0.05 per share, better than the $0.09 loss analysts expected, and revenue of $33.87 million versus a $31.71 million consensus estimate.

Shares of Owlet, Inc. (NYSE:OWLT - Get Free Report) have been assigned a consensus recommendation of "Hold" from the five research firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $15.00.

Several equities research analysts recently commented on the company. Weiss Ratings upgraded Owlet from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, September 25th. Wall Street Zen raised Owlet from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th.

Hedge Funds Weigh In On Owlet

A number of institutional investors and hedge funds have recently modified their holdings of the business. Eclipse Operations LLC acquired a new position in shares of Owlet during the 2nd quarter valued at $44,202,793. AWM Investment Company Inc. bought a new position in Owlet during the second quarter worth $7,034,000. Granahan Investment Management LLC boosted its stake in Owlet by 72.8% during the first quarter. Granahan Investment Management LLC now owns 1,186,655 shares of the company's stock worth $6,099,000 after acquiring an additional 499,906 shares in the last quarter. Squarepoint Ops LLC boosted its stake in Owlet by 2.2% during the second quarter. Squarepoint Ops LLC now owns 98,191 shares of the company's stock worth $564,000 after acquiring an additional 2,116 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in Owlet by 446.1% in the first quarter. Bank of America Corp DE now owns 96,241 shares of the company's stock worth $495,000 after purchasing an additional 78,619 shares during the period. 72.60% of the stock is currently owned by institutional investors.

Owlet Stock Down 6.3%

OWLT stock opened at $4.24 on Friday. The firm has a market cap of $123.99 million, a price-to-earnings ratio of -5.66 and a beta of 2.17. The company's fifty day simple moving average is $4.68 and its 200 day simple moving average is $6.29. Owlet has a 12-month low of $4.02 and a 12-month high of $16.94.

Owlet (NYSE:OWLT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.05) earnings per share for the quarter, topping 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 firm had revenue of $33.87 million during the quarter, compared to the consensus estimate of $31.71 million. Research analysts expect that Owlet will post -0.25 earnings per share for the current year.

About Owlet

Owlet, Inc NYSE: OWLT is a pediatric digital health company focused on helping parents monitor infant health, wellness and sleep. The company develops connected products that collect and communicate information through wearable sensors and mobile applications, with the goal of providing parents with greater visibility into their child's well-being.

Owlet's product portfolio includes the Dream Sock, a wearable infant monitor designed to track metrics such as sleep, pulse rate and blood oxygen levels, as well as the Owlet Cam, a connected video and audio baby monitor.

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