Wall Street Zen Upgrades Owlet (NYSE:OWLT) to "Hold"

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 investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Saturday.

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

Owlet Stock Performance

Shares of OWLT stock traded up $0.41 during trading hours on Friday, reaching $7.42. The company had a trading volume of 45,877 shares, compared to its average volume of 59,707. The stock has a fifty day moving average of $7.79 and a 200-day moving average of $5.98. The company has a market capitalization of $126.62 million, a price-to-earnings ratio of -2.12 and a beta of 1.80. Owlet has a 12-month low of $2.75 and a 12-month high of $10.30.

Institutional Investors Weigh In On Owlet

A number of large investors have recently modified their holdings of OWLT. XTX Topco Ltd purchased a new stake in shares of Owlet during the 2nd quarter worth $90,000. Goldman Sachs Group Inc. purchased a new stake in Owlet during the 1st quarter worth about $43,000. Virtu Financial LLC acquired a new position in shares of Owlet during the 1st quarter worth about $95,000. Marshall Wace LLP purchased a new position in shares of Owlet in the 2nd quarter valued at about $336,000. Finally, Northern Trust Corp raised its position in shares of Owlet by 68.4% during the 4th quarter. Northern Trust Corp now owns 44,750 shares of the company's stock worth $199,000 after acquiring an additional 18,169 shares in the last quarter. 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.