Owlet, Inc. (NYSE:OWLT) Receives $20.00 Consensus Price Target from Brokerages

Owlet, Inc. (NYSE:OWLT) has been assigned an average rating of “Hold” from the five research firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $20.00.

OWLT has been the subject of a number of research reports. William Blair started coverage on Owlet in a research report on Tuesday, December 9th. They set an “outperform” rating for the company. TD Cowen reaffirmed a “buy” rating on shares of Owlet in a research note on Friday, March 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Owlet in a research report on Thursday, January 22nd. Wall Street Zen cut shares of Owlet from a “hold” rating to a “sell” rating in a research note on Saturday, March 14th. Finally, Zacks Research downgraded shares of Owlet from a “strong-buy” rating to a “hold” rating in a report on Monday, March 2nd.

Owlet Trading Down 4.3%

Shares of OWLT stock opened at $4.53 on Thursday. The company has a current ratio of 1.85, a quick ratio of 1.51 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $127.42 million, a price-to-earnings ratio of -1.67 and a beta of 1.77. Owlet has a 12-month low of $2.75 and a 12-month high of $16.94. The stock’s 50-day moving average price is $9.73 and its 200-day moving average price is $10.84.

Owlet (NYSE:OWLT) last announced its quarterly earnings results on Thursday, March 5th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.10. The firm had revenue of $26.55 million for the quarter, compared to the consensus estimate of $26.01 million. Equities research analysts predict that Owlet will post -0.76 EPS for the current fiscal year.

Insider Buying and Selling

In other Owlet news, CEO Jonathan Harris sold 2,311 shares of the business’s stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $13.33, for a total transaction of $30,805.63. Following the sale, the chief executive officer directly owned 264,396 shares of the company’s stock, valued at $3,524,398.68. The trade was a 0.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 52.20% of the company’s stock.

Institutional Investors Weigh In On Owlet

Several institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. bought a new stake in shares of Owlet during the first quarter worth $43,000. Bank of America Corp DE grew its holdings in shares of Owlet by 6,517.7% in the third quarter. Bank of America Corp DE now owns 5,228 shares of the company’s stock worth $44,000 after purchasing an additional 5,149 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Owlet in the fourth quarter worth about $60,000. XTX Topco Ltd purchased a new position in Owlet in the 2nd quarter worth about $90,000. Finally, Charles Schwab Investment Management Inc. purchased a new position in Owlet in the 4th quarter worth about $242,000. 72.60% of the stock is owned by 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.