Owlet, Inc. (NYSE:OWLT) Stock Rated "Hold" by Wall Street Brokerages

Key Points

• Owlet has a consensus “Hold” rating from five analysts, with three buys, one hold and one sell; the average 12-month price target is $15.00.
• Institutional investors own 72.6% of Owlet’s shares, with several hedge funds recently initiating or increasing positions.
• Shares opened at $4.72, near the 52-week low of $4.19. The company beat quarterly revenue and EPS estimates, but remains unprofitable and analysts expect a full-year loss of $0.25 per share.

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

A number of analysts have recently weighed in on OWLT shares. Wall Street Zen upgraded shares of Owlet from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. Weiss Ratings upgraded shares of Owlet from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, September 25th. Finally, TD Cowen restated a "buy" rating and set a $10.00 target price (down from $13.00) on shares of Owlet in a research report on Monday, June 22nd.

Institutional Trading of Owlet

A number of hedge funds have recently modified their holdings of the stock. SkyView Investment Advisors LLC acquired a new position in Owlet in the second quarter valued at approximately $115,000. State of Wyoming acquired a new stake in shares of Owlet during the 1st quarter worth approximately $220,000. Walleye Capital LLC acquired a new stake in shares of Owlet during the 1st quarter worth approximately $343,000. 683 Capital Management LLC acquired a new stake in shares of Owlet during the 4th quarter worth approximately $1,133,000. Finally, FNY Investment Advisers LLC increased its holdings in shares of Owlet by 2,070.8% during the 2nd quarter. FNY Investment Advisers LLC now owns 75,979 shares of the company's stock valued at $436,000 after purchasing an additional 72,479 shares in the last quarter. Hedge funds and other institutional investors own 72.60% of the company's stock.

Owlet Stock Down 0.2%

Shares of NYSE OWLT opened at $4.72 on Monday. The business's 50 day moving average price is $5.18 and its 200 day moving average price is $5.30. The firm has a market cap of $137.92 million, a P/E ratio of -6.29 and a beta of 1.91. Owlet has a 52 week low of $4.19 and a 52 week high of $16.94.

Owlet (NYSE:OWLT - Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $33.87 million during the quarter, compared to analyst estimates of $31.71 million. As a group, research analysts expect that Owlet will post -0.25 earnings per share for the current year.

Owlet Company Profile

Owlet, Inc develops technology designed to help parents and caregivers monitor infants and young children. The company combines wearable sensors, connected cameras and mobile software to provide information about sleep, movement and selected wellness indicators through its digital platform.

Its products include the Dream Sock, a wearable infant monitor that tracks sleep-related data and other measurements, as well as the Owlet Cam and Dream Duo, which combine camera-based video and audio monitoring with wearable technology.

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