Owlet (NYSE:OWLT) Stock Rating Upgraded by Northland Capmk

Northland Capmk upgraded shares of Owlet (NYSE:OWLT) to a strong-buy rating in a research report report published on Wednesday,Zacks.com reports.

Several other equities analysts have also recently commented on OWLT. Northland Securities began coverage on shares of Owlet in a research report on Wednesday. They issued an “outperform” rating and a $7.00 price target for the company. Lake Street Capital began coverage on Owlet in a report on Friday, February 21st. They issued a “buy” rating and a $8.50 target price for the company.

Owlet Stock Performance

Shares of OWLT opened at $3.80 on Wednesday. The stock has a market capitalization of $62.95 million, a PE ratio of -1.59 and a beta of 1.52. The company’s 50-day simple moving average is $4.02 and its 200-day simple moving average is $4.49. Owlet has a 1 year low of $2.75 and a 1 year high of $5.65.

Institutional Trading of Owlet

Several hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in Owlet by 31.0% during the 3rd quarter. Geode Capital Management LLC now owns 58,684 shares of the company’s stock worth $264,000 after acquiring an additional 13,879 shares in the last quarter. Essex Investment Management Co. LLC acquired a new position in shares of Owlet during the fourth quarter worth $113,000. Renaissance Technologies LLC increased its holdings in Owlet by 52.7% in the fourth quarter. Renaissance Technologies LLC now owns 48,437 shares of the company’s stock valued at $216,000 after buying an additional 16,718 shares during the last quarter. Northern Trust Corp raised its stake in Owlet by 68.4% in the fourth quarter. Northern Trust Corp now owns 44,750 shares of the company’s stock valued at $199,000 after buying an additional 18,169 shares in the last quarter. Finally, Granahan Investment Management LLC purchased a new stake in Owlet during the 4th quarter worth about $145,000. Institutional investors and hedge funds own 72.60% of the company’s stock.

About Owlet

Owlet, Inc provides digital parenting solutions in the United States and internationally. The company's platform focuses on giving real-time data and insights to parents. It offers Dream Sock, a wearable infant health monitor equipped with pulse oximetry technology to track vitals signs, such as pulse rate, oxygen, activity, and sleep patterns; BabySat which is intended for infants with heightened health risk; Owlet Cam, a monitoring device in smartphones that offers video and audio, predictive sleep insights, and cry detections; and accessories, including Owlet Sleeper, as well as Duo and Dream Duo that combines Smart Sock with the Owlet Cam.