Owlet (NYSE:OWLT) Stock Price Down 0.2% - Time to Sell?

Owlet, Inc. (NYSE:OWLT - Get Free Report)'s share price fell 0.2% during trading on Tuesday . The stock traded as low as $8.25 and last traded at $8.45. 89,996 shares changed hands during trading, an increase of 5% from the average session volume of 85,398 shares. The stock had previously closed at $8.47.

Wall Street Analyst Weigh In

Several research firms have commented on OWLT. Northland Capmk raised shares of Owlet to a "strong-buy" rating in a research note on Wednesday, April 23rd. Northland Securities set a $12.00 target price on shares of Owlet in a research note on Wednesday, July 9th.

Owlet Trading Up 1.2%

The company's 50-day moving average price is $7.37 and its two-hundred day moving average price is $5.36. The company has a market cap of $122.08 million, a P/E ratio of -5.17 and a beta of 1.80.

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

Institutional Trading of Owlet

A number of hedge funds have recently bought and sold shares of OWLT. Northern Trust Corp increased its holdings 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 during the period. Harbor Capital Advisors Inc. acquired a new stake in Owlet in the 1st quarter worth approximately $871,000. Renaissance Technologies LLC lifted its holdings in Owlet by 52.7% in the 4th quarter. Renaissance Technologies LLC now owns 48,437 shares of the company's stock worth $216,000 after purchasing an additional 16,718 shares during the last quarter. Granahan Investment Management LLC acquired a new stake in Owlet in the 4th quarter worth approximately $145,000. Finally, Goldman Sachs Group Inc. acquired a new stake in Owlet in the 1st quarter worth approximately $43,000. 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.