Owlet, Inc. (NYSE:OWLT) Given Average Rating of "Hold" by Analysts

Key Points

• Analysts have a consensus “Hold” rating on Owlet, with three buys, one hold and one sell among five analysts. The average 12-month price target is $15.00, though TD Cowen recently cut its target to $10 from $13 while maintaining a buy rating.
• Institutional investors own 72.6% of Owlet’s shares, with several funds recently initiating or expanding positions, including Eclipse Operations, Granahan Investment Management and Vanguard.
• Owlet’s stock opened at $5.23, well below its 52-week high of $16.94. Its latest quarterly results exceeded expectations, with an adjusted loss of $0.05 per share versus estimates of $0.09 and revenue of $33.87 million versus $31.71 million expected.

Owlet, Inc. (NYSE:OWLT - Get Free Report) has earned an average recommendation of "Hold" from the five analysts that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $15.00.

Several research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Owlet from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. TD Cowen restated a "buy" rating and issued a $10.00 price objective (down from $13.00) on shares of Owlet in a research report on Monday, June 22nd. Finally, Weiss Ratings raised shares of Owlet from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, August 13th.

Institutional Trading of Owlet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Eclipse Operations LLC acquired a new position in Owlet during the 2nd quarter valued at about $44,202,793,000. AWM Investment Company Inc. bought a new stake in shares of Owlet during the fourth quarter worth approximately $28,304,000. Granahan Investment Management LLC raised its stake in shares of 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 buying an additional 499,906 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Owlet during the fourth quarter worth approximately $3,662,000. Finally, Vanguard Group Inc. lifted its holdings in Owlet by 86.3% in the third quarter. Vanguard Group Inc. now owns 389,840 shares of the company's stock valued at $3,302,000 after buying an additional 180,619 shares during the period. 72.60% of the stock is currently owned by institutional investors and hedge funds.

Owlet Price Performance

OWLT stock opened at $5.23 on Friday. The business has a fifty day moving average price of $5.55 and a 200 day moving average price of $6.45. Owlet has a fifty-two week low of $4.19 and a fifty-two week high of $16.94. The stock has a market capitalization of $152.82 million, a price-to-earnings ratio of -6.97 and a beta of 1.85.

Owlet (NYSE:OWLT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.05) EPS for the quarter, topping analysts' consensus estimates of ($0.09) by $0.04. The company had revenue of $33.87 million for the quarter, compared to analyst estimates of $31.71 million. Owlet had a negative return on equity of 601.24% and a negative net margin of 8.61%. On average, equities analysts expect that Owlet will post -0.25 earnings per share for the current fiscal year.

About Owlet

Owlet Baby Care, Inc is a consumer health technology company specializing in the design and manufacture of smart baby monitoring products. The company’s flagship device, the Owlet Smart Sock, is a wearable monitor that tracks a newborn’s heart rate and oxygen saturation levels and transmits real-time data to a mobile app. Owlet has since expanded its product suite to include the Owlet Cam, an HD video monitor with audio and motion alerts, and the Dream Sock, a non-wearable device that collects sleep metrics to help parents understand and improve their baby’s rest patterns.

Founded in 2013 by engineer and father Kurt Workman, Owlet is headquartered in Lehi, Utah.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source