Analysts Set Owlet, Inc. (NYSE:OWLT) Target Price at $14.25

Owlet, Inc. (NYSE:OWLT) has been assigned an average recommendation of “Moderate Buy” from the six analysts that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $14.25.

A number of analysts have weighed in on OWLT shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Owlet in a report on Thursday, January 22nd. TD Cowen reiterated a “buy” rating on shares of Owlet in a research note on Thursday, January 8th. Zacks Research upgraded Owlet from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 19th. Wall Street Zen cut Owlet from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. Finally, Northland Securities set a $20.00 price target on Owlet and gave the stock an “outperform” rating in a report on Tuesday, December 30th.

Insider Buying and Selling

In other Owlet news, CEO Jonathan Harris sold 2,311 shares of the business’s stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $13.33, for a total transaction of $30,805.63. Following the completion of the transaction, the chief executive officer owned 264,396 shares in the company, valued at approximately $3,524,398.68. The trade was a 0.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 52.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Owlet

Several hedge funds have recently modified their holdings of OWLT. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Owlet in the 4th quarter worth about $60,000. Harbor Capital Advisors Inc. boosted its holdings in shares of Owlet by 3.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 121,741 shares of the company’s stock worth $1,971,000 after buying an additional 4,160 shares during the period. Bank of America Corp DE increased its position in shares of Owlet by 6,517.7% in 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 in the last quarter. XTX Topco Ltd acquired a new stake in shares of Owlet during the second quarter valued at approximately $90,000. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of Owlet in the 1st quarter valued at approximately $43,000. 72.60% of the stock is owned by hedge funds and other institutional investors.

Owlet Stock Performance

NYSE:OWLT opened at $11.70 on Wednesday. The company has a market capitalization of $199.75 million, a price-to-earnings ratio of -3.96 and a beta of 1.77. Owlet has a one year low of $2.75 and a one year high of $16.94. The stock has a 50-day simple moving average of $13.98 and a 200 day simple moving average of $10.64.

Owlet (NYSE:OWLT) last released its earnings results on Thursday, November 13th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.26. The firm had revenue of $31.99 million for the quarter, compared to the consensus estimate of $26.00 million. On average, equities research analysts forecast that Owlet will post -0.76 EPS for the current fiscal year.

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.