7,700,835 Shares in Owlet, Inc. $OWLT Purchased by Eclipse Operations LLC

Eclipse Operations LLC acquired a new stake in Owlet, Inc. (NYSE:OWLT) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 7,700,835 shares of the company’s stock, valued at approximately $44,202,793. Owlet accounts for about 0.0% of Eclipse Operations LLC’s holdings, making the stock its 2nd largest position. Eclipse Operations LLC owned approximately 26.50% of Owlet at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Goldman Sachs Group Inc. purchased a new stake in Owlet during the 1st quarter worth $43,000. XTX Topco Ltd acquired a new stake in Owlet in the 2nd quarter valued at $90,000. Marshall Wace LLP bought a new position in Owlet in the second quarter valued at approximately $336,000. Vanguard Group Inc. grew its holdings in shares of Owlet by 86.3% during the third quarter. Vanguard Group Inc. now owns 389,840 shares of the company’s stock worth $3,302,000 after buying an additional 180,619 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in Owlet by 6,517.7% in the 3rd quarter. Bank of America Corp DE now owns 5,228 shares of the company’s stock valued at $44,000 after acquiring an additional 5,149 shares during the period. Institutional investors and hedge funds own 72.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Wall Street Zen upgraded shares of Owlet from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. TD Cowen reiterated a “buy” rating and set a $10.00 price target (down from $13.00) on shares of Owlet in a report on Monday, June 22nd. Finally, Weiss Ratings raised Owlet from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 13th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $15.00.

Owlet Stock Performance

Shares of NYSE OWLT traded down $0.07 during mid-day trading on Friday, reaching $4.94. 106,981 shares of the company traded hands, compared to its average volume of 262,689. The stock has a market cap of $144.35 million, a PE ratio of -6.59 and a beta of 1.85. The company’s fifty day moving average is $5.58 and its two-hundred day moving average is $6.22. Owlet, Inc. has a fifty-two week low of $4.19 and a fifty-two week high of $16.94.

Owlet (NYSE:OWLT) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.04. The business had revenue of $33.87 million for 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%. Research analysts forecast that Owlet, Inc. will post -0.25 earnings per share for the current year.

Owlet 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.