Owlet, Inc. (NYSE:OWLT) Given Average Recommendation of “Hold” by Brokerages

Shares of Owlet, Inc. (NYSE:OWLT) have earned a consensus recommendation of “Hold” from the five brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $20.00.

A number of analysts have weighed in on the stock. TD Cowen reissued a “buy” rating on shares of Owlet in a report on Friday, March 6th. Zacks Research downgraded shares of Owlet from a “strong-buy” rating to a “hold” rating in a report on Monday, March 2nd. Weiss Ratings downgraded shares of Owlet from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 4th. Finally, Wall Street Zen raised shares of Owlet from a “strong sell” rating to a “sell” rating in a report on Sunday, May 10th.

Owlet Price Performance

Shares of Owlet stock opened at $4.78 on Tuesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.71 and a quick ratio of 1.33. Owlet has a fifty-two week low of $4.19 and a fifty-two week high of $16.94. The firm has a fifty day moving average price of $5.35 and a two-hundred day moving average price of $9.65. The company has a market cap of $138.68 million, a PE ratio of -1.56 and a beta of 1.86.

Owlet (NYSE:OWLT) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.09. The company had revenue of $22.46 million during the quarter, compared to the consensus estimate of $20.84 million. Analysts expect that Owlet will post -0.37 EPS for the current year.

Institutional Trading of Owlet

A number of hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE boosted its holdings in Owlet by 446.1% in the 1st quarter. Bank of America Corp DE now owns 96,241 shares of the company’s stock valued at $495,000 after purchasing an additional 78,619 shares during the period. Granahan Investment Management LLC boosted its holdings in Owlet by 72.8% in the 1st quarter. Granahan Investment Management LLC now owns 1,186,655 shares of the company’s stock valued at $6,099,000 after purchasing an additional 499,906 shares during the period. Walleye Capital LLC bought a new stake in Owlet in the 1st quarter valued at $343,000. State of Wyoming bought a new position in shares of Owlet during the 1st quarter worth about $220,000. Finally, Perkins Capital Management Inc. lifted its holdings in shares of Owlet by 3.9% during the 1st quarter. Perkins Capital Management Inc. now owns 106,095 shares of the company’s stock worth $545,000 after acquiring an additional 3,990 shares during the period. 72.60% of the stock is 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.