Owlet (NYSE:OWLT) Stock Price Down 5.3%

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.

Owlet (NYSE:OWLT – Get Rating) last issued its earnings results on Monday, November 14th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.03). The company had revenue of $17.40 million during the quarter. On average, equities analysts expect that Owlet, Inc. will post -0.66 EPS for the current fiscal year.

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.

About Owlet

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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.