Owlet, Inc. (NYSE:OWLT - Get Free Report)'s share price fell 8.7% during mid-day trading on Wednesday . The company traded as low as $7.50 and last traded at $7.88. 1,035,586 shares traded hands during mid-day trading, an increase of 1,548% from the average session volume of 62,850 shares. The stock had previously closed at $8.63.
Wall Street Analyst Weigh In
Several analysts recently weighed in on OWLT shares. 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 price objective on shares of Owlet in a research report on Wednesday, July 9th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Owlet in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Owlet currently has a consensus rating of "Moderate Buy" and a consensus target price of $10.25.
Read Our Latest Stock Analysis on OWLT
Owlet Price Performance
The firm has a market capitalization of $134.58 million, a price-to-earnings ratio of -2.25 and a beta of 1.82. The firm has a 50 day moving average price of $7.97 and a 200-day moving average price of $6.76.
Institutional Trading of Owlet
Several hedge funds have recently modified their holdings of the stock. XTX Topco Ltd acquired a new stake in Owlet in the second quarter valued at $90,000. Goldman Sachs Group Inc. acquired a new stake in Owlet in the first quarter valued at $43,000. Virtu Financial LLC acquired a new stake in Owlet in the first quarter valued at $95,000. Marshall Wace LLP acquired a new stake in Owlet in the second quarter valued at $336,000. Finally, Archon Capital Management LLC acquired a new stake in Owlet in the second quarter valued at $442,000. 72.60% of the stock is currently owned by institutional investors and hedge funds.
About Owlet
(
Get Free Report)
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.
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