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

Owlet, Inc. (NYSE:OWLT) has been assigned a consensus recommendation of “Hold” from the five ratings firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $15.00.

OWLT has been the subject of a number of research 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 report on Monday, June 22nd. Weiss Ratings raised Owlet from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 13th. Finally, Wall Street Zen upgraded Owlet from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th.

Owlet Trading Up 2.3%

OWLT stock opened at $5.20 on Friday. The stock has a market cap of $151.89 million, a P/E ratio of -6.93 and a beta of 1.85. Owlet has a twelve month low of $4.19 and a twelve month high of $16.94. The company’s 50 day moving average is $5.57 and its two-hundred day moving average is $6.31.

Owlet (NYSE:OWLT) last issued its earnings results on Tuesday, August 11th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.04. The business had revenue of $33.87 million during the quarter, compared to analysts’ expectations of $31.71 million. Owlet had a negative net margin of 8.61% and a negative return on equity of 601.24%. On average, equities research analysts predict that Owlet will post -0.25 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in OWLT. Goldman Sachs Group Inc. acquired a new stake in shares of Owlet in the first quarter valued at approximately $43,000. XTX Topco Ltd purchased a new stake in Owlet in the 2nd quarter valued at $90,000. Marshall Wace LLP purchased a new stake in Owlet in the 2nd quarter valued at $336,000. Vanguard Group Inc. boosted its stake in Owlet by 86.3% during the 3rd quarter. Vanguard Group Inc. now owns 389,840 shares of the company’s stock worth $3,302,000 after purchasing an additional 180,619 shares during the period. Finally, Bank of America Corp DE boosted its stake in Owlet by 6,517.7% during the 3rd quarter. Bank of America Corp DE now owns 5,228 shares of the company’s stock worth $44,000 after purchasing an additional 5,149 shares during the period. Institutional investors and hedge funds 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.