Eclipse Operations LLC Invests $44.20 Billion in Owlet, Inc. $OWLT

Eclipse Operations LLC bought a new stake in shares of Owlet, Inc. (NYSE:OWLT) in the second quarter, HoldingsChannel reports. The institutional investor bought 7,700,835 shares of the company’s stock, valued at approximately $44,202,793,000. Owlet makes up about 1.7% of Eclipse Operations LLC’s portfolio, making the stock its 2nd largest position. Eclipse Operations LLC owned about 0.26% of Owlet as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of OWLT. Granahan Investment Management LLC boosted its stake in shares of Owlet by 72.8% in the first 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. Perkins Capital Management Inc. bought a new stake in Owlet in the fourth quarter worth $1,653,000. Calamos Advisors LLC purchased a new stake in shares of Owlet during the 4th quarter valued at about $1,259,000. Huntleigh Advisors Inc. bought a new stake in shares of Owlet in the 4th quarter valued at approximately $1,069,000. Finally, Goldman Sachs Group Inc. bought a new position in shares of Owlet during the 1st quarter valued at approximately $43,000. Hedge funds and other institutional investors own 72.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on OWLT. Weiss Ratings upgraded Owlet from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday. TD Cowen reaffirmed a “buy” rating and issued a $10.00 price target (down from $13.00) on shares of Owlet in a research report on Monday, June 22nd. Finally, Wall Street Zen upgraded Owlet from a “sell” rating to a “hold” rating in a research note on Saturday. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $15.00.

Owlet Stock Down 7.8%

Owlet stock opened at $6.14 on Tuesday. The firm has a market cap of $178.43 million, a price-to-earnings ratio of -8.19 and a beta of 1.85. Owlet, Inc. has a 52 week low of $4.19 and a 52 week high of $16.94. The business’s 50-day moving average price is $5.47 and its 200 day moving average price is $6.60. The company has a quick ratio of 1.33, a current ratio of 1.71 and a debt-to-equity ratio of 0.09.

Owlet (NYSE:OWLT) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.04. The business had revenue of $33.87 million during the quarter, compared to analyst estimates of $31.71 million. As a group, sell-side analysts anticipate that Owlet, Inc. will post -0.37 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.