Owlet, Inc. (NYSE:OWLT) Receives Average Recommendation of “Moderate Buy” from Brokerages

Owlet, Inc. (NYSE:OWLT) has been assigned an average rating of “Moderate Buy” from the five brokerages that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $20.00.

A number of brokerages have recently issued reports on OWLT. TD Cowen reissued a “buy” rating on shares of Owlet in a research note on Thursday, January 8th. Wall Street Zen cut shares of Owlet from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Owlet in a research report on Thursday, January 22nd. Zacks Research raised shares of Owlet from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 19th. Finally, William Blair assumed coverage on Owlet in a research note on Tuesday, December 9th. They issued an “outperform” rating on the stock.

Owlet Stock Down 0.7%

OWLT opened at $11.54 on Friday. The business has a fifty day moving average of $13.27 and a 200 day moving average of $10.91. The stock has a market cap of $197.10 million, a P/E ratio of -3.91 and a beta of 1.77. Owlet has a 52-week low of $2.75 and a 52-week high of $16.94.

Insider Activity

In other news, CEO Jonathan Harris sold 2,311 shares of the firm’s stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $13.33, for a total transaction of $30,805.63. Following the transaction, the chief executive officer owned 264,396 shares in the company, valued at approximately $3,524,398.68. This trade represents a 0.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 52.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OWLT. Eclipse Operations LLC bought a new stake in shares of Owlet in the 4th quarter valued at about $124,677,000. AWM Investment Company Inc. purchased a new position in Owlet during the fourth quarter valued at approximately $28,304,000. Granahan Investment Management LLC raised its stake in Owlet by 135.9% in the third quarter. Granahan Investment Management LLC now owns 509,904 shares of the company’s stock worth $4,319,000 after buying an additional 293,771 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in Owlet during the fourth quarter worth $3,662,000. Finally, Next Century Growth Investors LLC bought a new stake in Owlet during the 2nd quarter valued at $1,653,000. 72.60% of the stock is currently owned by institutional investors.

Owlet Company Profile

Owlet Baby Care, Inc is a consumer health technology company specializing in the design and manufacture of smart baby monitoring products. The company’s flagship device, the Owlet Smart Sock, is a wearable monitor that tracks a newborn’s heart rate and oxygen saturation levels and transmits real-time data to a mobile app. Owlet has since expanded its product suite to include the Owlet Cam, an HD video monitor with audio and motion alerts, and the Dream Sock, a non-wearable device that collects sleep metrics to help parents understand and improve their baby’s rest patterns.

Founded in 2013 by engineer and father Kurt Workman, Owlet is headquartered in Lehi, Utah.