Owlet, Inc. (NYSE:OWLT) Given Consensus Rating of "Hold" by Brokerages

Key Points

• Hold consensus from five analysts (1 sell, 1 hold, 3 buy) with a $20 average 12‑month target, materially higher than the recent trading level (opened at $5.79) and the 52‑week range of $3.14–$16.94.
• Owlet's latest quarter beat estimates (EPS -$0.03 vs. -$0.13 and revenue $26.55M vs. $26.01M), but the company remains unprofitable with a negative PE and analysts forecasting about -$0.76 EPS for the year.
• Insiders own 52.20% of the stock; CEO Jonathan Harris disclosed a small sale of 2,311 shares at $13.33 (a 0.87% reduction in his holding).

Shares of Owlet, Inc. (NYSE:OWLT - Get Free Report) have been given a consensus rating of "Hold" by the five analysts that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $20.00.

Several brokerages recently issued reports on OWLT. Wall Street Zen lowered shares of Owlet from a "hold" rating to a "sell" rating in a report on Saturday, March 14th. Northland Securities set a $20.00 price objective on shares of Owlet and gave the company an "outperform" rating in a report on Tuesday, December 30th. Zacks Research lowered shares of Owlet from a "strong-buy" rating to a "hold" rating in a report on Monday, March 2nd. Weiss Ratings restated a "sell (d-)" rating on shares of Owlet in a report on Thursday, January 22nd. Finally, TD Cowen restated a "buy" rating on shares of Owlet in a report on Friday, March 6th.

Owlet Stock Down 0.4%

NYSE OWLT opened at $5.79 on Monday. Owlet has a 52 week low of $3.14 and a 52 week high of $16.94. The company has a quick ratio of 1.51, a current ratio of 1.85 and a debt-to-equity ratio of 0.13. The business's fifty day simple moving average is $7.65 and its 200-day simple moving average is $10.56. The firm has a market cap of $163.02 million, a PE ratio of -2.14 and a beta of 2.00.

Owlet (NYSE:OWLT - Get Free Report) last issued its quarterly earnings data on Thursday, March 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.10. The company had revenue of $26.55 million during the quarter, compared to analysts' expectations of $26.01 million. As a group, equities analysts anticipate that Owlet will post -0.76 earnings per share for the current year.

Insider Transactions at Owlet

In related news, CEO Jonathan Harris sold 2,311 shares of the business's stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $13.33, for a total value of $30,805.63. Following the sale, the chief executive officer directly owned 264,396 shares in the company, valued at approximately $3,524,398.68. The trade was a 0.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 52.20% of the company's stock.

Institutional Trading of Owlet

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Informed Momentum Co LLC increased its stake in Owlet by 1.6% during the fourth quarter. Informed Momentum Co LLC now owns 112,893 shares of the company's stock worth $1,828,000 after purchasing an additional 1,737 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Owlet during the fourth quarter worth about $60,000. Harbor Capital Advisors Inc. increased its stake in Owlet by 3.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 121,741 shares of the company's stock worth $1,971,000 after purchasing an additional 4,160 shares during the period. Bank of America Corp DE increased its stake in Owlet by 6,517.7% during the third quarter. Bank of America Corp DE now owns 5,228 shares of the company's stock worth $44,000 after purchasing an additional 5,149 shares during the period. Finally, XTX Topco Ltd purchased a new stake in Owlet during the second quarter worth about $90,000. 72.60% of the stock is currently owned by hedge funds and other institutional investors.

Owlet Company Profile

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.