Owlet (NYSE:OWLT) Issues Earnings Results

Owlet (NYSE:OWLT) released its quarterly earnings results on Tuesday. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.41, Zacks reports.

Owlet Price Performance

OWLT stock traded up $0.07 during trading on Tuesday, hitting $4.57. 36,554 shares of the stock traded hands, compared to its average volume of 33,514. The stock has a market cap of $73.28 million, a price-to-earnings ratio of -1.91 and a beta of 1.50. Owlet has a 1 year low of $3.20 and a 1 year high of $5.96. The firm’s 50 day moving average is $4.63 and its two-hundred day moving average is $4.66.

Insiders Place Their Bets

In other news, insider Jonathan Harris sold 7,740 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $4.30, for a total transaction of $33,282.00. Following the transaction, the insider now directly owns 280,877 shares of the company’s stock, valued at $1,207,771.10. This represents a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 25,254 shares of company stock valued at $111,558. Insiders own 67.07% of the company’s stock.

Analyst Ratings Changes

Separately, Lake Street Capital assumed coverage on shares of Owlet in a research report on Friday, February 21st. They set a “buy” rating and a $8.50 price target for the company.

Owlet Company Profile

Owlet, Inc provides digital parenting solutions in the United States and internationally. The company's platform focuses on giving real-time data and insights to parents. It offers Dream Sock, a wearable infant health monitor equipped with pulse oximetry technology to track vitals signs, such as pulse rate, oxygen, activity, and sleep patterns; BabySat which is intended for infants with heightened health risk; Owlet Cam, a monitoring device in smartphones that offers video and audio, predictive sleep insights, and cry detections; and accessories, including Owlet Sleeper, as well as Duo and Dream Duo that combines Smart Sock with the Owlet Cam.