Owlet, Inc. (NYSE:OWLT) Receives $14.25 Consensus Target Price from Brokerages

Owlet, Inc. (NYSE:OWLT) has received a consensus rating of “Buy” from the seven ratings firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $14.25.

A number of research firms have recently weighed in on OWLT. Cowen restated a “buy” rating on shares of Owlet in a report on Thursday. Weiss Ratings reissued a “sell (d-)” rating on shares of Owlet in a research report on Wednesday, October 8th. Zacks Research upgraded Owlet from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 19th. Northland Securities set a $20.00 target price on Owlet and gave the company an “outperform” rating in a report on Tuesday, December 30th. Finally, Wall Street Zen upgraded Owlet from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th.

Owlet Stock Down 8.4%

Shares of OWLT opened at $14.51 on Friday. The business’s fifty day moving average is $13.31 and its 200 day moving average is $9.99. Owlet has a 12-month low of $2.75 and a 12-month high of $16.94. The stock has a market cap of $247.75 million, a P/E ratio of -4.92 and a beta of 1.78.

Owlet (NYSE:OWLT) last released its quarterly earnings data on Thursday, November 13th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.26. The business had revenue of $31.99 million for the quarter, compared to analyst estimates of $26.00 million. On average, analysts expect that Owlet will post -0.76 EPS for the current year.

Institutional Investors Weigh In On Owlet

Hedge funds have recently modified their holdings of the stock. Granahan Investment Management LLC lifted its position in shares of Owlet by 135.9% during the 3rd quarter. Granahan Investment Management LLC now owns 509,904 shares of the company’s stock valued at $4,319,000 after buying an additional 293,771 shares during the last quarter. Next Century Growth Investors LLC bought a new stake in shares of Owlet in the second quarter valued at approximately $1,653,000. Vanguard Group Inc. lifted its stake in shares of Owlet by 86.3% during the 3rd quarter. Vanguard Group Inc. now owns 389,840 shares of the company’s stock valued at $3,302,000 after buying an additional 180,619 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Owlet by 70.0% during the second quarter. Harbor Capital Advisors Inc. now owns 402,260 shares of the company’s stock worth $3,379,000 after acquiring an additional 165,657 shares in the last quarter. Finally, Archon Capital Management LLC bought a new position in shares of Owlet in the second quarter worth $442,000. 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.