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

Key Points

• Owlet has a consensus “Hold” rating from five analysts: three recommend buying, one rates it a hold, and one rates it a sell. The average 12-month price target is $15.00.
• Owlet shares opened at $5.15, down 1.5%, with a 52-week range of $4.19 to $16.94 and a market capitalization of approximately $149.75 million.
• The company reported a quarterly loss of $0.09 per share, beating expectations for a $0.18 loss, while revenue of $22.46 million exceeded estimates of $20.84 million. Institutional investors own 72.6% of the stock.

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

A number of research firms have issued reports on OWLT. Wall Street Zen raised Owlet from a "strong sell" rating to a "sell" rating in a research note on Sunday, May 10th. TD Cowen reiterated a "buy" rating and issued a $10.00 price target (down from $13.00) on shares of Owlet in a report on Monday, June 22nd. Finally, Weiss Ratings lowered shares of Owlet from a "sell (d-)" rating to a "sell (e+)" rating in a report on Monday, May 4th.

Institutional Trading of Owlet

Institutional investors and hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. bought a new position in Owlet during the first quarter worth $43,000. Bank of America Corp DE lifted its holdings in shares of 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 buying an additional 5,149 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in Owlet during the fourth quarter worth about $60,000. XTX Topco Ltd acquired a new stake in Owlet in the 2nd quarter worth about $90,000. Finally, State of Wyoming bought a new position in shares of Owlet during the first quarter worth approximately $220,000. Institutional investors own 72.60% of the company's stock.

Owlet Stock Down 1.5%

Owlet stock opened at $5.15 on Wednesday. Owlet has a fifty-two week low of $4.19 and a fifty-two week high of $16.94. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.71 and a quick ratio of 1.33. The firm has a market capitalization of $149.75 million, a price-to-earnings ratio of -1.68 and a beta of 1.84. The company's 50 day simple moving average is $5.43 and its 200 day simple moving average is $7.42.

Owlet (NYSE:OWLT - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.09. The firm had revenue of $22.46 million during the quarter, compared to analyst estimates of $20.84 million. As a group, sell-side analysts anticipate that Owlet will post -0.37 EPS for the current 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.