Owlet (NYSE:OWLT) Issues Quarterly Earnings Results, Beats Expectations By $0.26 EPS

Owlet (NYSE:OWLT) released its quarterly earnings results on Thursday. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.26, FiscalAI reports. Owlet had a negative return on equity of 0.36% and a negative net margin of 54.45%.The business had revenue of $31.99 million during the quarter, compared to the consensus estimate of $26.00 million. Owlet updated its FY 2025 guidance to EPS.

Owlet Stock Performance

Shares of NYSE:OWLT traded up $1.13 during trading on Friday, reaching $11.29. The stock had a trading volume of 346,067 shares, compared to its average volume of 76,753. The firm’s fifty day moving average is $8.55 and its 200 day moving average is $7.45. Owlet has a 52 week low of $2.75 and a 52 week high of $11.61. The stock has a market cap of $192.90 million, a price-to-earnings ratio of -3.24 and a beta of 1.83.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Northland Securities set a $15.50 price target on Owlet in a research report on Friday. Wall Street Zen upgraded shares of Owlet from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Owlet in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Owlet presently has an average rating of “Moderate Buy” and a consensus price target of $12.00.

Institutional Trading of Owlet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OWLT. XTX Topco Ltd acquired a new stake in Owlet in the second quarter valued at approximately $90,000. Goldman Sachs Group Inc. acquired a new stake in Owlet in the 1st quarter valued at $43,000. Marshall Wace LLP bought a new stake in Owlet during the 2nd quarter valued at $336,000. Finally, Vanguard Group Inc. raised its holdings in Owlet by 86.3% during the third quarter. Vanguard Group Inc. now owns 389,840 shares of the company’s stock worth $3,302,000 after buying an additional 180,619 shares during the last quarter. 72.60% of the stock is owned by institutional investors.

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.