Zacks Investment Research Downgrades Owlet (NYSE:OWLT) to Hold

Zacks Investment Research lowered shares of Owlet (NYSE:OWLTGet Rating) from a buy rating to a hold rating in a research report sent to investors on Wednesday 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. “

Separately, Citigroup increased their price objective on Owlet from $2.50 to $3.25 in a report on Thursday, May 12th.

Shares of NYSE:OWLT opened at $4.44 on Wednesday. The company has a current ratio of 1.63, a quick ratio of 1.71 and a debt-to-equity ratio of 0.22. Owlet has a 1 year low of $1.59 and a 1 year high of $11.43. The business has a fifty day simple moving average of $4.03 and a 200 day simple moving average of $3.22. The firm has a market cap of $503.84 million and a price-to-earnings ratio of -3.34.

Owlet (NYSE:OWLTGet Rating) last announced its quarterly earnings data on Wednesday, May 11th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.01. The firm had revenue of $21.50 million for the quarter. On average, sell-side analysts forecast that Owlet will post -0.52 EPS for the current year.

A number of institutional investors have recently bought and sold shares of OWLT. Wasatch Advisors Inc. acquired a new position in Owlet during the third quarter worth $17,004,000. Anqa Management LLC acquired a new stake in shares of Owlet in the fourth quarter valued at about $3,813,000. Vanguard Group Inc. grew its position in shares of Owlet by 73.1% in the first quarter. Vanguard Group Inc. now owns 2,722,058 shares of the company’s stock valued at $12,113,000 after purchasing an additional 1,149,939 shares during the last quarter. EPIQ Capital Group LLC acquired a new stake in shares of Owlet in the third quarter valued at about $5,870,000. Finally, BlackRock Inc. acquired a new stake in shares of Owlet in the third quarter valued at about $5,489,000. 37.56% of the stock is currently owned by hedge funds and other institutional investors.

Owlet Company Profile (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.

Further Reading

Get a free copy of the Zacks research report on Owlet (OWLT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Owlet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Owlet and related companies with MarketBeat.com's FREE daily email newsletter.