Analysts Set Owlet, Inc. (NYSE:OWLT) Target Price at $15.00

Shares of Owlet, Inc. (NYSE:OWLT) have been assigned an average rating of “Hold” from the five brokerages that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $15.00.

A number of brokerages recently commented on OWLT. Wall Street Zen raised shares of Owlet from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. TD Cowen reaffirmed a “buy” rating and issued a $10.00 price objective (down from $13.00) on shares of Owlet in a research report on Monday, June 22nd. Finally, Weiss Ratings raised shares of Owlet from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 13th.

Owlet Stock Performance

Shares of OWLT opened at $5.03 on Friday. The stock has a market capitalization of $147.09 million, a P/E ratio of -6.71 and a beta of 1.85. Owlet has a 1 year low of $4.19 and a 1 year high of $16.94. The company’s fifty day moving average is $5.58 and its two-hundred day moving average is $6.22.

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

Institutional Trading of Owlet

A number of institutional investors have recently added to or reduced their stakes in OWLT. Goldman Sachs Group Inc. purchased a new position in Owlet in the first quarter valued at about $43,000. XTX Topco Ltd acquired a new stake in shares of Owlet in the second quarter valued at about $90,000. Marshall Wace LLP purchased a new stake in shares of Owlet during the 2nd quarter valued at about $336,000. Vanguard Group Inc. raised its holdings 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 during the period. Finally, Bank of America Corp DE lifted its position 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 acquiring an additional 5,149 shares in the last quarter. 72.60% of the stock is owned by hedge funds and other institutional investors.

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.