Owlet (NYSE:OWLT) Rating Increased to Strong-Buy at Northland Capmk

Northland Capmk upgraded shares of Owlet (NYSE:OWLT - Free Report) to a strong-buy rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other equities analysts also recently issued reports on OWLT. Lake Street Capital assumed coverage on Owlet in a research report on Friday, February 21st. They set a "buy" rating and a $8.50 price target on the stock. Northland Securities started coverage on Owlet in a research note on Wednesday, April 23rd. They issued an "outperform" rating and a $7.00 price target for the company.

Owlet Trading Up 2.2 %

Shares of NYSE:OWLT traded up $0.09 during trading on Wednesday, reaching $4.03. The stock had a trading volume of 14,066 shares, compared to its average volume of 36,637. The company has a market capitalization of $66.68 million, a P/E ratio of -1.68 and a beta of 1.52. The firm's 50-day simple moving average is $4.00 and its 200 day simple moving average is $4.49. Owlet has a one year low of $2.75 and a one year high of $5.65.

Institutional Investors Weigh In On Owlet

Large investors have recently made changes to their positions in the stock. Essex Investment Management Co. LLC acquired a new position in Owlet during the fourth quarter valued at $113,000. Granahan Investment Management LLC purchased a new position in Owlet in the 4th quarter valued at about $145,000. Northern Trust Corp raised its holdings in shares of Owlet by 68.4% during the fourth quarter. Northern Trust Corp now owns 44,750 shares of the company's stock valued at $199,000 after acquiring an additional 18,169 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Owlet by 52.7% in 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. Finally, Geode Capital Management LLC raised its stake in Owlet by 31.0% in the 3rd quarter. Geode Capital Management LLC now owns 58,684 shares of the company's stock valued at $264,000 after purchasing an additional 13,879 shares during the last quarter. 72.60% of the stock is owned by hedge funds and other institutional investors.

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.