Owlet, Inc. (NYSE:OWLT) Receives $14.25 Consensus Target Price from Brokerages

Owlet, Inc. (NYSE:OWLT) has been given an average recommendation of “Buy” by the seven ratings firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $14.25.

OWLT has been the subject of several research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Owlet in a report on Wednesday, October 8th. William Blair assumed coverage on shares of Owlet in a research note on Tuesday, December 9th. They issued an “outperform” rating for the company. Northland Securities set a $20.00 target price on shares of Owlet and gave the stock an “outperform” rating in a report on Tuesday, December 30th. Zacks Research raised shares of Owlet from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 19th. Finally, Wall Street Zen raised shares of Owlet from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th.

Institutional Trading of Owlet

A number of hedge funds have recently bought and sold shares of OWLT. Goldman Sachs Group Inc. purchased a new position in shares of Owlet in the 1st quarter valued at $43,000. Bank of America Corp DE boosted its position in Owlet by 6,517.7% during the third quarter. Bank of America Corp DE now owns 5,228 shares of the company’s stock valued at $44,000 after purchasing an additional 5,149 shares in the last quarter. XTX Topco Ltd bought a new stake in Owlet during the second quarter valued at about $90,000. Marshall Wace LLP purchased a new position in Owlet in the second quarter valued at about $336,000. Finally, Archon Capital Management LLC bought a new position in Owlet in the second quarter worth about $442,000. Hedge funds and other institutional investors own 72.60% of the company’s stock.

Owlet Price Performance

Shares of OWLT stock opened at $13.96 on Friday. The company has a market capitalization of $238.45 million, a P/E ratio of -4.73 and a beta of 1.78. The company’s 50-day simple moving average is $13.54 and its two-hundred day simple moving average is $10.06. Owlet has a one year low of $2.75 and a one year high of $16.94.

Owlet (NYSE:OWLT) last posted its quarterly earnings results on Thursday, November 13th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.26. The company had revenue of $31.99 million for the quarter, compared to the consensus estimate of $26.00 million. On average, research analysts expect that Owlet will post -0.76 EPS for the current fiscal year.

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.