Owlet (NYSE:OWLT) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Owlet (NYSE:OWLT) from a sell rating to a hold rating in a report published on Saturday morning.

A number of other equities analysts have also commented on the company. TD Cowen reissued a “buy” rating and issued a $10.00 price objective (down from $13.00) on shares of Owlet in a research note on Monday, June 22nd. Weiss Ratings restated a “sell (e+)” rating on shares of Owlet in a research note on Friday, July 31st. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $15.00.

Owlet Price Performance

Owlet stock opened at $6.73 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.71 and a quick ratio of 1.33. The business has a 50 day simple moving average of $5.44 and a 200 day simple moving average of $6.70. Owlet has a one year low of $4.19 and a one year high of $16.94. The company has a market capitalization of $195.63 million, a PE ratio of -8.98 and a beta of 1.85.

Owlet (NYSE:OWLT) last issued 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 the consensus estimate of $31.71 million. On average, sell-side analysts forecast that Owlet will post -0.37 EPS for the current fiscal year.

Institutional Investors Weigh In On Owlet

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its holdings in shares of Owlet by 6,517.7% in the 3rd quarter. Bank of America Corp DE now owns 5,228 shares of the company’s stock valued at $44,000 after buying an additional 5,149 shares during the period. XTX Topco Ltd bought a new stake in Owlet during the 2nd quarter worth approximately $90,000. Goldman Sachs Group Inc. acquired a new stake in Owlet during the 1st quarter worth approximately $43,000. Charles Schwab Investment Management Inc. acquired a new position in shares of Owlet in the fourth quarter valued at approximately $242,000. Finally, Engineers Gate Manager LP acquired a new position in shares of Owlet in the fourth quarter valued at approximately $246,000. Institutional investors own 72.60% of the company’s stock.

Owlet Company 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.