Harbor Capital Advisors Inc. Invests $871,000 in Owlet, Inc. (NYSE:OWLT)

Harbor Capital Advisors Inc. acquired a new position in shares of Owlet, Inc. (NYSE:OWLT - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 236,603 shares of the company's stock, valued at approximately $871,000. Harbor Capital Advisors Inc. owned 1.43% of Owlet as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Essex Investment Management Co. LLC purchased a new stake in shares of Owlet in the fourth quarter worth approximately $113,000. Granahan Investment Management LLC bought a new position in Owlet in the 4th quarter valued at $145,000. Northern Trust Corp increased its stake in Owlet by 68.4% in the 4th quarter. Northern Trust Corp now owns 44,750 shares of the company's stock worth $199,000 after buying an additional 18,169 shares during the period. Finally, Renaissance Technologies LLC raised its stake in shares of Owlet by 52.7% during the fourth quarter. Renaissance Technologies LLC now owns 48,437 shares of the company's stock valued at $216,000 after acquiring an additional 16,718 shares in the last quarter. Institutional investors own 72.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on OWLT shares. Northland Capmk upgraded Owlet to a "strong-buy" rating in a report on Wednesday, April 23rd. Lake Street Capital initiated coverage on Owlet in a research report on Friday, February 21st. They issued a "buy" rating and a $8.50 price objective for the company. Finally, Northland Securities began coverage on shares of Owlet in a research report on Wednesday, April 23rd. They set an "outperform" rating and a $7.00 target price on the stock.

Owlet Trading Up 3.6%

NYSE OWLT traded up $0.24 on Tuesday, hitting $6.90. 154,553 shares of the company's stock traded hands, compared to its average volume of 40,784. The firm's 50-day moving average price is $4.76 and its two-hundred day moving average price is $4.58. The firm has a market capitalization of $113.99 million, a PE ratio of -4.83 and a beta of 1.62. Owlet, Inc. has a 1-year low of $2.75 and a 1-year high of $7.76.

Owlet (NYSE:OWLT - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.02). Owlet had a negative return on equity of 0.36% and a negative net margin of 15.28%. The company had revenue of $21.10 million for the quarter, compared to analyst estimates of $18.14 million. On average, research analysts anticipate that Owlet, Inc. will post -0.76 earnings per share for the current fiscal year.

About Owlet

Owlet, Inc provides digital parenting solutions in the United States and internationally. The company's platform focuses on giving real-time data and insights to parents. It offers Dream Sock, a wearable infant health monitor equipped with pulse oximetry technology to track vitals signs, such as pulse rate, oxygen, activity, and sleep patterns; BabySat which is intended for infants with heightened health risk; Owlet Cam, a monitoring device in smartphones that offers video and audio, predictive sleep insights, and cry detections; and accessories, including Owlet Sleeper, as well as Duo and Dream Duo that combines Smart Sock with the Owlet Cam.