Short Interest in Owlet, Inc. (NYSE:OWLT) Expands By 33.7%

by · The Cerbat Gem

Owlet, Inc. (NYSE:OWLT – Get Free Report) was the recipient of a large growth in short interest in the month of December. As of December 31st, there was short interest totaling 564,783 shares, a growth of 33.7% from the December 15th total of 422,275 shares. Based on an average daily volume of 353,269 shares, the short-interest ratio is currently 1.6 days. Approximately 6.9% of the shares of the company are sold short. Approximately 6.9% of the shares of the company are sold short. Based on an average daily volume of 353,269 shares, the short-interest ratio is currently 1.6 days.

Owlet Price Performance

Shares of OWLT traded up $0.09 during mid-day trading on Monday, reaching $13.69. The stock had a trading volume of 228,352 shares, compared to its average volume of 298,423. Owlet has a 52-week low of $2.75 and a 52-week high of $16.94. The firm has a market cap of $233.74 million, a price-to-earnings ratio of -4.64 and a beta of 1.78. The business’s fifty day moving average is $13.74 and its 200 day moving average is $10.14.

Owlet (NYSE:OWLT – Get Free Report) last issued its quarterly earnings data on Thursday, November 13th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.26. The business had revenue of $31.99 million during the quarter, compared to analysts’ expectations of $26.00 million. As a group, sell-side analysts anticipate that Owlet will post -0.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Owlet

Institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE grew its position in shares of Owlet by 6,517.7% during the third quarter. Bank of America Corp DE now owns 5,228 shares of the company’s stock worth $44,000 after acquiring an additional 5,149 shares during the last quarter. XTX Topco Ltd acquired a new stake in Owlet in the second quarter valued at $90,000. Goldman Sachs Group Inc. acquired a new stake in shares of Owlet in the first quarter valued at approximately $43,000. Marshall Wace LLP purchased a new position in Owlet during the second quarter worth $336,000. Finally, Archon Capital Management LLC acquired a new position in Owlet in the 2nd quarter valued at about $442,000. Institutional investors and hedge funds own 72.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. William Blair assumed coverage on Owlet in a report on Tuesday, December 9th. They set an “outperform” rating on the stock. Cowen reissued a “buy” rating on shares of Owlet in a research note on Thursday, January 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Owlet in a report on Wednesday, October 8th. Northland Securities set a $20.00 price target on Owlet and gave the company an “outperform” rating in a research note on Tuesday, December 30th. Finally, Zacks Research upgraded Owlet from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 19th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Owlet presently has an average rating of “Buy” and an average price target of $14.25.

View Our Latest Stock Analysis on OWLT

About Owlet

(Get Free Report)

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.

Further Reading