Owlet (NYSE:OWLT) Sees Strong Trading Volume

Owlet, Inc. (NYSE:OWLTGet Rating) shares saw unusually-strong trading volume on Thursday . Approximately 12,174 shares were traded during mid-day trading, a decline of 95% from the previous session’s volume of 225,969 shares.The stock last traded at $4.53 and had previously closed at $4.49.

Separately, Zacks Investment Research lowered shares of Owlet from a “hold” rating to a “sell” rating in a report on Saturday.

The firm’s fifty day moving average price is $3.29 and its 200 day moving average price is $3.29. The company has a quick ratio of 1.71, a current ratio of 1.97 and a debt-to-equity ratio of 0.14.

Owlet (NYSE:OWLTGet Rating) last released its earnings results on Monday, March 7th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.17) by ($0.12). The business had revenue of ($2.50) million for the quarter. Research analysts anticipate that Owlet, Inc. will post -0.59 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in the business. Wasatch Advisors Inc. purchased a new stake in shares of Owlet in the 3rd quarter valued at approximately $17,004,000. Anqa Management LLC purchased a new stake in shares of Owlet in the 4th quarter valued at approximately $3,813,000. EPIQ Capital Group LLC increased its position in shares of Owlet by 2.1% in the 4th quarter. EPIQ Capital Group LLC now owns 1,072,388 shares of the company’s stock valued at $2,863,000 after purchasing an additional 22,277 shares during the last quarter. BlackRock Inc. increased its position in shares of Owlet by 6.0% in the 4th quarter. BlackRock Inc. now owns 1,040,798 shares of the company’s stock valued at $2,779,000 after purchasing an additional 59,007 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Owlet by 12.3% in the 4th quarter. Geode Capital Management LLC now owns 581,668 shares of the company’s stock valued at $1,553,000 after purchasing an additional 63,710 shares during the last quarter. Institutional investors own 11.31% of the company’s stock.

About Owlet (NYSE:OWLT)

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 owlet dream sock, a app to assist children for better sleep; owlet cam, a video streaming app to hear and see baby from anywhere, and dream lab, an online and interactive sleep training program for babies.

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