Eclipse Operations LLC bought a new stake in Owlet, Inc. (NYSE:OWLT – Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 7,700,835 shares of the company’s stock, valued at approximately $44,202,793,000. Owlet comprises approximately 1.7% of Eclipse Operations LLC’s investment portfolio, making the stock its 2nd biggest position. Eclipse Operations LLC owned 26.50% of Owlet as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. AWM Investment Company Inc. bought a new stake in shares of Owlet during the fourth quarter worth about $28,304,000. Granahan Investment Management LLC boosted its position in Owlet by 72.8% during the 1st quarter. Granahan Investment Management LLC now owns 1,186,655 shares of the company’s stock worth $6,099,000 after buying an additional 499,906 shares during the period. Next Century Growth Investors LLC boosted its position in Owlet by 18.4% during the 4th quarter. Next Century Growth Investors LLC now owns 484,908 shares of the company’s stock worth $7,851,000 after buying an additional 75,408 shares during the period. Vanguard Group Inc. grew its holdings in Owlet by 86.3% during the 3rd quarter. Vanguard Group Inc. now owns 389,840 shares of the company’s stock worth $3,302,000 after acquiring an additional 180,619 shares during the last quarter. Finally, Bleichroeder LP grew its stake in shares of Owlet by 14.8% in the fourth quarter. Bleichroeder LP now owns 310,000 shares of the company’s stock worth $5,019,000 after purchasing an additional 40,000 shares during the last quarter. 72.60% of the stock is owned by institutional investors and hedge funds.
Owlet Stock Down 7.8%
OWLT opened at $6.14 on Tuesday. The company has a quick ratio of 1.33, a current ratio of 1.71 and a debt-to-equity ratio of 0.09. The stock has a market cap of $178.43 million, a PE ratio of -8.19 and a beta of 1.85. The business’s fifty day simple moving average is $5.47 and its 200 day simple moving average is $6.60. Owlet, Inc. has a 52 week low of $4.19 and a 52 week high of $16.94.
Wall Street Analysts Forecast Growth
OWLT has been the subject of a number of recent analyst reports. Weiss Ratings upgraded Owlet from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday. Wall Street Zen upgraded shares of Owlet from a “sell” rating to a “hold” rating in a report on Saturday. Finally, TD Cowen reissued a “buy” rating and issued a $10.00 price objective (down from $13.00) on shares of Owlet in a research note on Monday, June 22nd. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $15.00.
Get Our Latest Stock Report on Owlet
About Owlet
Owlet Baby Care, Inc is a consumer health technology company specializing in the design and manufacture of smart baby monitoring products. The company’s flagship device, the Owlet Smart Sock, is a wearable monitor that tracks a newborn’s heart rate and oxygen saturation levels and transmits real-time data to a mobile app. Owlet has since expanded its product suite to include the Owlet Cam, an HD video monitor with audio and motion alerts, and the Dream Sock, a non-wearable device that collects sleep metrics to help parents understand and improve their baby’s rest patterns.
Founded in 2013 by engineer and father Kurt Workman, Owlet is headquartered in Lehi, Utah.
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