Analysts Set Owlet, Inc. (NYSE:OWLT) PT at $15.00

Owlet, Inc. (NYSE:OWLT) has been given an average rating of “Hold” by the five analysts that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $15.00.

A number of research firms have recently weighed in on OWLT. Wall Street Zen raised Owlet from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. TD Cowen reiterated a “buy” rating and issued a $10.00 price objective (down from $13.00) on shares of Owlet in a research report on Monday, June 22nd. Finally, Weiss Ratings cut Owlet from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, September 10th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. SkyView Investment Advisors LLC purchased a new position in shares of Owlet during the 2nd quarter worth approximately $115,000. State of Wyoming bought a new stake in shares of Owlet during the first quarter valued at approximately $220,000. Walleye Capital LLC purchased a new stake in Owlet in the first quarter worth $343,000. Hillsdale Investment Management Inc. purchased a new position in shares of Owlet during the fourth quarter valued at approximately $424,000. Finally, FNY Investment Advisers LLC boosted its holdings in Owlet by 2,070.8% in the second quarter. FNY Investment Advisers LLC now owns 75,979 shares of the company’s stock worth $436,000 after acquiring an additional 72,479 shares in the last quarter. 72.60% of the stock is owned by hedge funds and other institutional investors.

Owlet Trading Up 5.3%

Shares of OWLT opened at $4.99 on Thursday. Owlet has a 12-month low of $4.19 and a 12-month high of $16.94. The stock has a 50-day moving average price of $5.30 and a 200-day moving average price of $5.45. The company has a market cap of $145.81 million, a PE ratio of -6.65 and a beta of 1.90.

Owlet (NYSE:OWLT) last released its earnings results on Tuesday, August 11th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.04. The business had revenue of $33.87 million for the quarter, compared to analysts’ expectations of $31.71 million. Owlet had a negative return on equity of 601.24% and a negative net margin of 8.61%. As a group, analysts predict that Owlet will post -0.25 earnings per share for the current year.

About Owlet

Owlet Inc is a digital health and connected-care company focused on infant monitoring. The company develops products intended to help parents monitor babies’ sleep and wellness from home, combining wearable sensors, cameras, mobile applications and data-driven notifications.

Its product portfolio includes the Dream Sock, a wearable infant monitor designed to track measurements such as sleep, pulse rate and oxygen levels, as well as the Owlet Cam, which provides video and audio monitoring.