Owlet (NYSE:OWLT) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Owlet (NYSE:OWLTGet Rating) from a hold rating to a buy rating in a report published on Thursday morning, Zacks.com reports. They currently have $4.25 price target on the stock.

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 lifted their target price on shares of Owlet from $2.50 to $3.25 in a research report on Thursday, May 12th.

Shares of Owlet stock opened at $3.63 on Thursday. The company has a market cap of $411.93 million and a price-to-earnings ratio of -2.73. Owlet has a 1 year low of $1.59 and a 1 year high of $11.43. The company’s fifty day simple moving average is $3.94 and its 200-day simple moving average is $3.22. 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 (NYSE:OWLTGet Rating) last released its 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 company had revenue of ($2.50) million during the quarter. As a group, research analysts forecast that Owlet will post -0.52 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in OWLT. Wells Fargo & Company MN boosted its stake in Owlet by 2,299.1% in the fourth 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 acquired a new position in Owlet during the 4th quarter worth about $38,000. Citigroup Inc. bought a new stake in Owlet during the 1st quarter worth about $43,000. TownSquare Capital LLC acquired a new stake in Owlet in the 1st quarter valued at about $45,000. Finally, Morgan Stanley bought a new position in shares of Owlet in the third quarter worth about $52,000. Hedge funds and other institutional investors own 37.56% of the company’s stock.

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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