Owlet, Inc. (NYSE:OWLT) Short Interest Update

Owlet, Inc. (NYSE:OWLT) was the target of a large increase in short interest in the month of March. As of March 13th, there was short interest totaling 658,508 shares, an increase of 20.4% from the February 26th total of 547,091 shares. Based on an average daily trading volume, of 767,457 shares, the short-interest ratio is currently 0.9 days. Approximately 4.9% of the company’s shares are short sold.

Insider Activity

In other news, CEO Jonathan Harris sold 2,311 shares of the firm’s stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $13.33, for a total transaction of $30,805.63. Following the completion of the sale, the chief executive officer owned 264,396 shares in the company, valued at $3,524,398.68. This trade represents a 0.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 52.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Owlet

Several large investors have recently added to or reduced their stakes in the business. Eclipse Operations LLC purchased a new position in Owlet in the 4th quarter valued at approximately $124,677,000. AWM Investment Company Inc. acquired a new position in shares of Owlet in the fourth quarter worth $28,304,000. Granahan Investment Management LLC increased its position in shares of Owlet by 34.7% during the fourth quarter. Granahan Investment Management LLC now owns 686,749 shares of the company’s stock worth $11,118,000 after acquiring an additional 176,845 shares during the period. Next Century Growth Investors LLC raised its stake in shares of Owlet by 18.4% in the fourth quarter. Next Century Growth Investors LLC now owns 484,908 shares of the company’s stock valued at $7,851,000 after acquiring an additional 75,408 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Owlet by 86.3% in the third quarter. Vanguard Group Inc. now owns 389,840 shares of the company’s stock valued at $3,302,000 after acquiring an additional 180,619 shares in the last quarter. 72.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on OWLT shares. Northland Securities set a $20.00 price objective on Owlet and gave the stock an “outperform” rating in a research report on Tuesday, December 30th. William Blair assumed coverage on Owlet in a research note on Tuesday, December 9th. They issued an “outperform” rating on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Owlet in a report on Thursday, January 22nd. Wall Street Zen downgraded Owlet from a “hold” rating to a “sell” rating in a research report on Saturday, March 14th. Finally, TD Cowen restated a “buy” rating on shares of Owlet in a report on Friday, March 6th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $20.00.

Owlet Trading Up 13.4%

OWLT traded up $0.61 during mid-day trading on Tuesday, hitting $5.14. 292,947 shares of the stock were exchanged, compared to its average volume of 339,781. The firm’s fifty day moving average is $9.73 and its two-hundred day moving average is $10.84. Owlet has a 1-year low of $2.75 and a 1-year high of $16.94. The company has a market cap of $144.69 million, a PE ratio of -1.90 and a beta of 1.77. The company has a current ratio of 1.85, a quick ratio of 1.51 and a debt-to-equity ratio of 0.13.

Owlet (NYSE:OWLT) last issued its quarterly earnings results on Thursday, March 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.10. The business had revenue of $26.55 million for the quarter, compared to analysts’ expectations of $26.01 million. Equities analysts forecast that Owlet will post -0.76 earnings per share for the current fiscal year.

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.