Owlet, Inc. (NYSE:OWLT – Get Rating)’s share price dropped 5.3% during trading on Friday . The stock traded as low as $0.50 and last traded at $0.54. Approximately 283,085 shares changed hands during trading, an increase of 216% from the average daily volume of 89,634 shares. The stock had previously closed at $0.57.
Wall Street Analysts Forecast Growth
OWLT has been the topic of several recent research reports. Cowen reduced their price objective on Owlet from $5.00 to $4.00 and set an “outperform” rating on the stock in a research report on Thursday, October 20th. Citigroup reduced their price objective on Owlet from $2.25 to $1.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 16th. Cowen reduced their price objective on Owlet to $3.00 in a research report on Thursday, November 17th. Finally, Bank of America initiated coverage on Owlet in a research report on Friday, September 30th. They set a “neutral” rating and a $1.50 price objective on the stock.
Owlet Trading Down 5.3 %
The company has a market capitalization of $62.02 million, a PE ratio of -0.71 and a beta of 1.71. The firm has a fifty day moving average of $0.72 and a two-hundred day moving average of $1.24.
Institutional Investors Weigh In On Owlet
Several institutional investors have recently bought and sold shares of the stock. State Street Corp boosted its holdings in Owlet by 15.6% during the 3rd quarter. State Street Corp now owns 476,383 shares of the company’s stock valued at $510,000 after acquiring an additional 64,200 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in Owlet during the 3rd quarter valued at about $32,000. BlackRock Inc. lifted its holdings in Owlet by 1.0% in the 3rd quarter. BlackRock Inc. now owns 1,441,342 shares of the company’s stock worth $1,542,000 after buying an additional 13,985 shares during the period. Salem Investment Counselors Inc. lifted its holdings in Owlet by 73.9% in the 3rd quarter. Salem Investment Counselors Inc. now owns 26,750 shares of the company’s stock worth $29,000 after buying an additional 11,371 shares during the period. Finally, Pelion Inc. purchased a new stake in Owlet in the 3rd quarter worth approximately $4,876,000. 40.63% of the stock is currently owned by hedge funds and other institutional investors.
Owlet, Inc operates as a digital parenting platform in the United States. The company's platform focuses on giving real-time data and insights to parents. Its products include Smart Sock, a baby monitor to track an infant's oxygen levels, heart rates, and sleep trends; Dream Sock, an app to assist children for better sleep; Cam, a video streaming app to hear and see baby from anywhere; and Dream Lab, an interactive online platform that assists families in building healthy sleep habits.
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