Owlet, Inc. (NYSE:OWLT) Receives $15.00 Consensus PT from Analysts

Shares of Owlet, Inc. (NYSE:OWLT) have earned an average rating of “Hold” from the five research firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $15.00.

OWLT has been the topic of a number of research analyst reports. TD Cowen reissued a “buy” rating and issued a $10.00 price target (down from $13.00) on shares of Owlet in a research note on Monday, June 22nd. Wall Street Zen raised shares of Owlet from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 10th. Finally, Weiss Ratings cut Owlet from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 4th.

Institutional Trading of Owlet

Several hedge funds have recently added to or reduced their stakes in OWLT. Goldman Sachs Group Inc. acquired a new position in shares of Owlet during the 1st quarter valued at $43,000. Bank of America Corp DE lifted its stake in Owlet by 6,517.7% during the third quarter. Bank of America Corp DE now owns 5,228 shares of the company’s stock valued at $44,000 after buying an additional 5,149 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Owlet in the 4th quarter valued at approximately $60,000. XTX Topco Ltd acquired a new stake in shares of Owlet in the second quarter worth $90,000. Finally, State of Wyoming acquired a new stake in Owlet during the 1st quarter worth about $220,000. Institutional investors own 72.60% of the company’s stock.

Owlet Trading Down 2.6%

Owlet stock opened at $5.49 on Friday. The stock has a 50-day moving average price of $5.34 and a 200 day moving average price of $8.40. Owlet has a 52 week low of $4.19 and a 52 week high of $16.94. The stock has a market cap of $159.42 million, a PE ratio of -1.79 and a beta of 1.84. The company has a current ratio of 1.71, a quick ratio of 1.33 and a debt-to-equity ratio of 0.09.

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

About Owlet

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.