Owlet (NYSE:OWLT) Issues Earnings Results, Beats Expectations By $0.41 EPS

Owlet (NYSE:OWLT) announced its quarterly earnings data 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

Shares of NYSE OWLT traded up $0.07 during mid-day trading on Tuesday, hitting $4.57. 38,648 shares of the stock traded hands, compared to its average volume of 33,514. The firm has a 50 day simple moving average of $4.63 and a two-hundred day simple moving average of $4.66. Owlet has a twelve month low of $3.20 and a twelve month high of $5.96. The company has a market cap of $73.28 million, a PE ratio of -1.91 and a beta of 1.50.

Wall Street Analysts Forecast Growth

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

Insider Activity at Owlet

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

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.