Owlet (NYSE:OWLT) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Owlet (NYSE:OWLT – Get Rating) from a sell rating to a hold rating in a research report released on Tuesday morning, Zacks.com reports.

According to Zacks, “Owlet Baby Care Inc. provides digital parenting platform aims to give parents real-time data and insights to help parents feel more calm and confident. Owlet Baby Care Inc., formerly known as Sandbridge Acquisition Corporation, is based in LOS ANGELES. “

Shares of Owlet stock opened at $3.51 on Tuesday. The stock has a 50-day moving average price of $3.78 and a 200 day moving average price of $3.21. The company has a market cap of $396.87 million and a P/E ratio of -2.64. The company has a current ratio of 1.97, a quick ratio of 1.71 and a debt-to-equity ratio of 0.14. Owlet has a 1 year low of $1.59 and a 1 year high of $11.43.

Owlet (NYSE:OWLT – Get Rating) last posted its quarterly earnings results on Monday, March 7th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.12). The firm had revenue of ($2.50) million during the quarter. On average, equities analysts forecast that Owlet will post -0.59 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of OWLT. Wells Fargo & Company MN raised its stake in shares of Owlet by 2,299.1% during the 4th quarter. Wells Fargo & Company MN now owns 10,436 shares of the company’s stock worth $28,000 after purchasing an additional 10,001 shares in the last quarter. Mirabella Financial Services LLP purchased a new stake in shares of Owlet during the 4th quarter worth about $38,000. Citigroup Inc. acquired a new position in shares of Owlet during the 1st quarter valued at about $43,000. TownSquare Capital LLC acquired a new position in shares of Owlet during the 1st quarter valued at about $45,000. Finally, Morgan Stanley acquired a new position in shares of Owlet during the 3rd quarter valued at about $52,000. 37.56% of the stock is owned by institutional investors.

About Owlet (Get Rating)

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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