Owlet (NYSE:OWLT) Upgraded at Wall Street Zen

Key Points

• Owlet (NYSE:OWLT) has been upgraded from a "sell" to a "hold" rating by analysts at Wall Street Zen.
• Northland Securities set a price target of $12.00 for Owlet shares, with the average target price currently at $10.25.
• Owlet shares have a market capitalization of approximately $119.03 million and are currently trading at about $6.97, showing a 1.3% decline.

Owlet (NYSE:OWLT - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Saturday.

Separately, Northland Securities set a $12.00 price objective on Owlet in a research report on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company's stock. According to MarketBeat, Owlet has an average rating of "Buy" and an average price target of $10.25.

Owlet Trading Up 8.5%

Owlet stock traded up $0.64 during trading hours on Friday, hitting $8.11. 80,548 shares of the stock traded hands, compared to its average volume of 55,297. The firm's 50-day moving average price is $7.71 and its two-hundred day moving average price is $6.03. The company has a market cap of $138.43 million, a PE ratio of -2.32 and a beta of 1.80. Owlet has a one year low of $2.75 and a one year high of $10.30.

Hedge Funds Weigh In On Owlet

Large investors have recently made changes to their positions in the business. XTX Topco Ltd purchased a new position in shares of Owlet during the second quarter valued at approximately $90,000. Goldman Sachs Group Inc. purchased a new position in shares of Owlet during the first quarter valued at approximately $43,000. Virtu Financial LLC purchased a new position in shares of Owlet during the first quarter valued at approximately $95,000. Marshall Wace LLP purchased a new position in shares of Owlet during the second quarter valued at approximately $336,000. Finally, Northern Trust Corp lifted 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 purchasing an additional 18,169 shares during the last quarter. 72.60% of the stock is currently owned by hedge funds and other institutional investors.

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.