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

Shares of Owlet, Inc. (NYSE:OWLT) have earned a consensus recommendation of “Hold” from the five research firms that are currently covering the stock, MarketBeat.com reports. One 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 1-year target price among brokerages that have covered the stock in the last year is $15.00.

OWLT has been the subject of several recent research reports. Wall Street Zen raised Owlet from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Weiss Ratings upgraded Owlet from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, September 25th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of OWLT. Eclipse Operations LLC bought a new stake in shares of Owlet during the 2nd quarter worth about $44,202,793. AWM Investment Company Inc. acquired a new stake in shares of Owlet in the 2nd quarter worth approximately $7,034,000. Granahan Investment Management LLC lifted its stake in shares of Owlet by 72.8% in the 1st quarter. Granahan Investment Management LLC now owns 1,186,655 shares of the company’s stock worth $6,099,000 after acquiring an additional 499,906 shares during the period. Squarepoint Ops LLC boosted its holdings in shares of Owlet by 2.2% in the second quarter. Squarepoint Ops LLC now owns 98,191 shares of the company’s stock valued at $564,000 after acquiring an additional 2,116 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Owlet by 446.1% in the first quarter. Bank of America Corp DE now owns 96,241 shares of the company’s stock valued at $495,000 after acquiring an additional 78,619 shares in the last quarter. 72.60% of the stock is owned by institutional investors and hedge funds.

Owlet Price Performance

Shares of OWLT opened at $4.16 on Friday. The stock’s 50-day moving average is $4.67 and its two-hundred day moving average is $6.24. The stock has a market cap of $121.42 million, a PE ratio of -5.54 and a beta of 2.17. Owlet has a 12 month low of $4.02 and a 12 month high of $16.94.

Owlet (NYSE:OWLT) last posted its quarterly earnings data 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 company had revenue of $33.87 million for the quarter, compared to analyst estimates of $31.71 million. Owlet had a negative net margin of 8.61% and a negative return on equity of 601.24%. On average, research analysts anticipate that Owlet will post -0.25 earnings per share for the current year.

About Owlet

Owlet, Inc (NYSE: OWLT) is a pediatric digital health company focused on helping parents monitor infant health, wellness and sleep. The company develops connected products that collect and communicate information through wearable sensors and mobile applications, with the goal of providing parents with greater visibility into their child’s well-being.

Owlet’s product portfolio includes the Dream Sock, a wearable infant monitor designed to track metrics such as sleep, pulse rate and blood oxygen levels, as well as the Owlet Cam, a connected video and audio baby monitor.