Owlet (NYSE:OWLT) Lowered to Hold Rating by Zacks Research

Owlet (NYSE:OWLT) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

A number of other equities research analysts also recently commented on OWLT. Northland Securities set a $20.00 target price on shares of Owlet and gave the stock an “outperform” rating in a research report on Tuesday, December 30th. William Blair assumed coverage on Owlet in a report on Tuesday, December 9th. They issued an “outperform” rating for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Owlet in a research report on Thursday, January 22nd. TD Cowen reissued a “buy” rating on shares of Owlet in a research report on Thursday, January 8th. Finally, Wall Street Zen downgraded Owlet from a “buy” rating to a “hold” rating in a research note on Friday, January 23rd. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $20.00.

Owlet Stock Down 2.4%

Shares of NYSE OWLT opened at $11.90 on Monday. The firm’s 50-day moving average price is $13.16 and its 200-day moving average price is $11.00. Owlet has a 52-week low of $2.75 and a 52-week high of $16.94. The company has a market cap of $203.25 million, a PE ratio of -4.03 and a beta of 1.77.

Insiders Place Their Bets

In other Owlet news, CEO Jonathan Harris sold 2,311 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer owned 264,396 shares of the company’s stock, valued at approximately $3,524,398.68. The trade was a 0.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 52.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Owlet during the 4th quarter valued at about $60,000. Bank of America Corp DE lifted its holdings in Owlet by 6,517.7% during the third quarter. Bank of America Corp DE now owns 5,228 shares of the company’s stock valued at $44,000 after purchasing an additional 5,149 shares in the last quarter. XTX Topco Ltd purchased a new position in Owlet during the second quarter valued at approximately $90,000. Goldman Sachs Group Inc. bought a new position in shares of Owlet in the first quarter worth approximately $43,000. Finally, Charles Schwab Investment Management Inc. purchased a new stake in shares of Owlet in the fourth quarter worth $242,000. 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.