Owlet (NYSE:OWLT) Stock Price Down 8.6% – What’s Next?
by Amy Steele · The Cerbat GemOwlet, Inc. (NYSE:OWLT – Get Free Report)’s share price was down 8.6% on Friday . The stock traded as low as $4.61 and last traded at $4.67. Approximately 397,668 shares changed hands during mid-day trading, an increase of 69% from the average daily volume of 234,714 shares. The stock had previously closed at $5.11.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on OWLT shares. Weiss Ratings lowered shares of Owlet from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. Zacks Research lowered shares of Owlet from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 2nd. TD Cowen reiterated a “buy” rating on shares of Owlet in a research note on Friday, March 6th. Finally, Wall Street Zen upgraded shares of Owlet from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 10th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $20.00.
Get Our Latest Stock Analysis on OWLT
Owlet Trading Down 8.6%
The company’s 50 day moving average price is $5.35 and its 200 day moving average price is $9.72. The company has a market cap of $135.43 million, a price-to-earnings ratio of -1.52 and a beta of 1.85. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.33 and a current ratio of 1.71.
Owlet (NYSE:OWLT – Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.09. The business had revenue of $22.46 million for the quarter, compared to analyst estimates of $20.84 million. Research analysts anticipate that Owlet, Inc. will post -0.37 EPS for the current year.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of OWLT. Goldman Sachs Group Inc. acquired a new position in shares of Owlet during the 1st quarter worth $43,000. Bank of America Corp DE boosted its holdings in shares of Owlet by 6,517.7% during the 3rd quarter. Bank of America Corp DE now owns 5,228 shares of the company’s stock worth $44,000 after buying an additional 5,149 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Owlet during the 4th quarter worth $60,000. XTX Topco Ltd bought a new stake in shares of Owlet during the 2nd quarter worth $90,000. Finally, State of Wyoming bought a new stake in shares of Owlet during the 1st quarter worth $220,000. Institutional investors and hedge funds own 72.60% of the company’s stock.
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.