Owlet (NYSE:OWLT) Trading Up 0.2% – Should You Buy?

Shares of Owlet, Inc. (NYSE:OWLT) traded up 0.2% on Tuesday . The company traded as high as $4.80 and last traded at $4.77. 21,809 shares were traded during trading, a decline of 31% from the average session volume of 31,804 shares. The stock had previously closed at $4.76.

Owlet Stock Performance

The firm has a market cap of $76.49 million, a price-to-earnings ratio of -2.00 and a beta of 1.50. The business has a fifty day simple moving average of $4.62 and a 200-day simple moving average of $4.62.

Insider Activity

In related news, insider Jonathan Harris sold 7,740 shares of the firm’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 completion of the transaction, the insider now directly owns 280,877 shares of the company’s stock, valued at $1,207,771.10. This trade represents a 2.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 25,254 shares of company stock valued at $111,558 over the last quarter. 67.07% of the stock is owned by company insiders.

Institutional Investors Weigh In On Owlet

Institutional investors and hedge funds have recently made changes to their positions in the stock. Corsair Capital Management L.P. acquired a new position in Owlet in the third quarter valued at $2,598,000. Rosalind Advisors Inc. bought a new position in shares of Owlet in the 3rd quarter worth about $1,212,000. Geode Capital Management LLC lifted its stake in shares of Owlet by 31.0% in the 3rd quarter. Geode Capital Management LLC now owns 58,684 shares of the company’s stock valued at $264,000 after purchasing an additional 13,879 shares during the period. Finally, Essex Investment Management Co. LLC bought a new stake in shares of Owlet during the 4th quarter valued at about $113,000. Institutional investors and hedge funds own 72.60% of the company’s stock.

About Owlet

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.