Owlet (NYSE:OWLT) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Owlet (NYSE:OWLT) from a hold rating to a buy rating in a research note published on Saturday.

Other equities research analysts have also issued reports about the company. Weiss Ratings restated a “sell (d-)” rating on shares of Owlet in a research note on Wednesday, October 8th. Northland Securities set a $15.50 target price on Owlet in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $12.00.

Owlet Trading Up 3.3%

Shares of Owlet stock traded up $0.34 during mid-day trading on Friday, hitting $10.50. 583,375 shares of the stock were exchanged, compared to its average volume of 209,871. The stock has a market capitalization of $179.28 million, a price-to-earnings ratio of -3.56 and a beta of 1.83. Owlet has a twelve month low of $2.75 and a twelve month high of $11.61. The company has a 50-day simple moving average of $8.62 and a 200 day simple moving average of $7.52.

Owlet (NYSE:OWLT) last announced its quarterly earnings data on Thursday, November 13th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.26. The business had revenue of $31.99 million during the quarter, compared to the consensus estimate of $26.00 million. Owlet had a negative return on equity of 0.36% and a negative net margin of 39.32%. Owlet has set its FY 2025 guidance at EPS. Equities research analysts forecast that Owlet will post -0.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Owlet

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. acquired a new stake in shares of Owlet in the 1st quarter valued at about $43,000. XTX Topco Ltd bought a new stake in Owlet in the second quarter valued at about $90,000. Virtu Financial LLC acquired a new stake in Owlet during the first quarter valued at approximately $95,000. Marshall Wace LLP bought a new position in Owlet during the 2nd quarter worth approximately $336,000. Finally, Archon Capital Management LLC acquired a new position in shares of Owlet in the 2nd quarter worth approximately $442,000. Institutional investors own 72.60% of the company’s stock.

Owlet Company Profile

Owlet, Inc provides digital parenting solutions in the United States and internationally. The company's platform focuses on giving real-time data and insights to parents. It offers Dream Sock, a wearable infant health monitor equipped with pulse oximetry technology to track vitals signs, such as pulse rate, oxygen, activity, and sleep patterns; BabySat which is intended for infants with heightened health risk; Owlet Cam, a monitoring device in smartphones that offers video and audio, predictive sleep insights, and cry detections; and accessories, including Owlet Sleeper, as well as Duo and Dream Duo that combines Smart Sock with the Owlet Cam.