Owlet, Inc. (NYSE:OWLT) Stock Has Average Price Target of $15.00 According to Brokerages

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

OWLT has been the topic of several analyst reports. Wall Street Zen raised shares of Owlet from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. TD Cowen restated 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. Finally, Weiss Ratings raised Owlet from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, September 25th.

Institutional Investors Weigh In On Owlet

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Eclipse Operations LLC acquired a new position in Owlet during the second quarter worth about $44,202,793. Granahan Investment Management LLC boosted its stake in shares of Owlet by 34.7% during the 4th 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 in the last quarter. Next Century Growth Investors LLC grew its holdings in shares of Owlet by 18.4% in the 4th quarter. Next Century Growth Investors LLC now owns 484,908 shares of the company’s stock worth $7,851,000 after acquiring an additional 75,408 shares during the period. AWM Investment Company Inc. acquired a new stake in shares of Owlet in the 2nd quarter worth approximately $7,034,000. Finally, Manatuck Hill Partners LLC acquired a new stake in shares of Owlet in the 4th quarter worth approximately $1,619,000. Institutional investors and hedge funds own 72.60% of the company’s stock.

Owlet Stock Down 4.6%

NYSE OWLT opened at $4.42 on Monday. Owlet has a 52-week low of $4.19 and a 52-week high of $16.94. The business’s 50-day moving average price is $5.13 and its 200 day moving average price is $5.29. The firm has a market cap of $129.01 million, a P/E ratio of -5.89 and a beta of 1.91.

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

Owlet Company Profile

Owlet, Inc develops technology designed to help parents and caregivers monitor infants and young children. The company combines wearable sensors, connected cameras and mobile software to provide information about sleep, movement and selected wellness indicators through its digital platform.

Its products include the Dream Sock, a wearable infant monitor that tracks sleep-related data and other measurements, as well as the Owlet Cam and Dream Duo, which combine camera-based video and audio monitoring with wearable technology.