Harbor Capital Advisors Inc. Raises Holdings in Owlet, Inc. $OWLT

Key Points

• Harbor Capital Advisors Inc. has increased its stake in Owlet, Inc. by 70%, holding approximately 402,260 shares valued at $3,379,000 as of the latest SEC filing.
• Owlet's stock has a consensus rating of "Buy" with a target price of $10.25, following upgrades from Wall Street analysts.
• Owlet, Inc. has seen significant interest from institutional investors, with 72.60% of the stock currently owned by such entities.

Harbor Capital Advisors Inc. grew its holdings in Owlet, Inc. (NYSE:OWLT - Free Report) by 70.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 402,260 shares of the company's stock after acquiring an additional 165,657 shares during the period. Harbor Capital Advisors Inc. owned about 2.43% of Owlet worth $3,379,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Northern Trust Corp lifted its position in shares of Owlet by 68.4% during the 4th quarter. Northern Trust Corp now owns 44,750 shares of the company's stock worth $199,000 after purchasing an additional 18,169 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Owlet during the 1st quarter worth about $95,000. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of Owlet during the first quarter valued at approximately $43,000. 72.60% of the stock is owned by institutional investors and hedge funds.

Owlet Stock Performance

Shares of Owlet stock traded down $0.06 during trading hours on Friday, reaching $8.12. The company's stock had a trading volume of 403,607 shares, compared to its average volume of 56,928. The stock's fifty day simple moving average is $7.70 and its two-hundred day simple moving average is $6.06. The company has a market capitalization of $138.69 million, a P/E ratio of -2.32 and a beta of 1.80. Owlet, Inc. has a one year low of $2.75 and a one year high of $10.30.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on OWLT. Wall Street Zen upgraded shares of Owlet from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. Northland Securities set a $12.00 target price on Owlet in a research note on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $10.25.

Owlet Company Profile

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.