Owlet (NYSE:OWLT) Shares Up 1.1% - What's Next?

Owlet, Inc. (NYSE:OWLT - Get Free Report)'s share price traded up 1.1% during mid-day trading on Monday . The company traded as high as $8.84 and last traded at $8.62. 161,725 shares traded hands during trading, an increase of 263% from the average session volume of 44,582 shares. The stock had previously closed at $8.53.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Northland Securities set a $12.00 target price on shares of Owlet in a report on Wednesday. Northland Capmk upgraded shares of Owlet to a "strong-buy" rating in a report on Wednesday, April 23rd.

Owlet Price Performance

The business's 50-day moving average price is $6.30 and its two-hundred day moving average price is $4.96. The firm has a market cap of $146.45 million, a price-to-earnings ratio of -6.20 and a beta of 1.81.

Owlet (NYSE:OWLT - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.02). The business had revenue of $21.10 million for the quarter, compared to analysts' expectations of $18.14 million. Owlet had a negative return on equity of 0.36% and a negative net margin of 15.28%. As a group, sell-side analysts forecast that Owlet, Inc. will post -0.76 earnings per share for the current year.

Hedge Funds Weigh In On Owlet

Several large investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. bought a new position in shares of Owlet in the first quarter valued at approximately $43,000. Virtu Financial LLC acquired a new stake in Owlet during the first quarter worth $95,000. Granahan Investment Management LLC acquired a new stake in shares of Owlet in the 4th quarter valued at $145,000. Northern Trust Corp boosted its stake in shares of Owlet by 68.4% in the 4th quarter. Northern Trust Corp now owns 44,750 shares of the company's stock valued at $199,000 after purchasing an additional 18,169 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Owlet by 52.7% in the 4th quarter. Renaissance Technologies LLC now owns 48,437 shares of the company's stock valued at $216,000 after purchasing an additional 16,718 shares in the last quarter. Institutional investors own 72.60% of the company's stock.

About Owlet

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.