Owlet (NYSE:OWLT) Shares Up 13.8% - Time to Buy?

Owlet, Inc. (NYSE:OWLT - Get Free Report) traded up 13.8% during mid-day trading on Monday . The stock traded as high as $6.34 and last traded at $6.16. 202,366 shares traded hands during mid-day trading, an increase of 438% from the average session volume of 37,630 shares. The stock had previously closed at $5.41.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on OWLT shares. Northland Securities started coverage on Owlet in a research report on Wednesday, April 23rd. They set an "outperform" rating and a $7.00 price objective for the company. Northland Capmk upgraded Owlet to a "strong-buy" rating in a research note on Wednesday, April 23rd. Finally, Lake Street Capital initiated coverage on shares of Owlet in a report on Friday, February 21st. They set a "buy" rating and a $8.50 price target for the company.

Owlet Stock Up 4.8%

The firm's 50 day simple moving average is $4.32 and its 200 day simple moving average is $4.49. The company has a market cap of $103.03 million, a price-to-earnings ratio of -2.61 and a beta of 1.62.

Owlet (NYSE:OWLT - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.02). The company had revenue of $21.10 million during the quarter, compared to analyst estimates of $18.14 million. Analysts anticipate that Owlet, Inc. will post -0.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Harbor Capital Advisors Inc. acquired a new stake in Owlet in the first quarter worth about $871,000. Granahan Investment Management LLC bought a new stake in shares of Owlet during the 4th quarter worth about $145,000. Virtu Financial LLC acquired a new stake in shares of Owlet in the 1st quarter worth approximately $95,000. Essex Investment Management Co. LLC acquired a new stake in shares of Owlet in the 4th quarter worth approximately $113,000. Finally, Northern Trust Corp boosted its holdings in shares of Owlet by 68.4% in 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 in the last quarter. 72.60% of the stock is owned by institutional investors and hedge funds.

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.