Owlet (NYSE:OWLT) Downgraded to “Hold” Rating by Zacks Research

Zacks Research lowered shares of Owlet (NYSE:OWLT) from a strong-buy rating to a hold rating in a research report report published on Monday,Zacks.com reports.

Several other analysts have also recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Owlet in a research report on Thursday, January 22nd. TD Cowen restated a “buy” rating on shares of Owlet in a research note on Thursday, January 8th. Wall Street Zen lowered shares of Owlet from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. Northland Securities set a $20.00 price objective on shares of Owlet and gave the company an “outperform” rating in a research report on Tuesday, December 30th. Finally, William Blair initiated coverage on shares of Owlet in a report on Tuesday, December 9th. They issued an “outperform” rating on the stock. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $20.00.

Owlet Stock Performance

Shares of OWLT stock opened at $11.90 on Monday. Owlet has a 52-week low of $2.75 and a 52-week high of $16.94. The firm has a market capitalization of $203.25 million, a PE ratio of -4.03 and a beta of 1.77. The stock has a fifty day simple moving average of $13.16 and a two-hundred day simple moving average of $11.00.

Insider Activity

In other news, CEO Jonathan Harris sold 2,311 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 264,396 shares in the company, valued at approximately $3,524,398.68. This represents a 0.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 52.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Owlet

Several large investors have recently bought and sold shares of the business. Next Century Growth Investors LLC purchased a new position in shares of Owlet in the 2nd quarter worth $1,653,000. Archon Capital Management LLC purchased a new stake in shares of Owlet during the 2nd quarter valued at about $442,000. Renaissance Technologies LLC lifted its holdings in shares of Owlet by 70.5% in the 4th quarter. Renaissance Technologies LLC now owns 286,409 shares of the company’s stock valued at $4,637,000 after acquiring an additional 118,386 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Owlet in the 4th quarter valued at about $999,000. Finally, Eclipse Operations LLC purchased a new position in Owlet in the fourth quarter worth about $124,677,000. Institutional investors own 72.60% of the company’s stock.

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.