Granahan Investment Management LLC Boosts Holdings in Owlet, Inc. $OWLT

by · The Markets Daily

Granahan Investment Management LLC boosted its position in Owlet, Inc. (NYSE:OWLT – Free Report) by 34.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 686,749 shares of the company’s stock after buying an additional 176,845 shares during the period. Granahan Investment Management LLC owned approximately 4.02% of Owlet worth $11,118,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. ExodusPoint Capital Management LP purchased a new position in Owlet in the 4th quarter valued at $256,000. Meros Investment Management LP purchased a new position in Owlet in the 4th quarter valued at $1,302,000. Squarepoint Ops LLC purchased a new position in Owlet in the 4th quarter valued at $271,000. OMERS ADMINISTRATION Corp purchased a new stake in shares of Owlet during the 4th quarter worth $502,000. Finally, Next Century Growth Investors LLC grew its stake in shares of 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 purchasing an additional 75,408 shares during the period. 72.60% of the stock is currently owned by hedge funds and other institutional investors.

Owlet Price Performance

Owlet stock opened at $4.44 on Wednesday. Owlet, Inc. has a 52 week low of $4.19 and a 52 week high of $16.94. 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 firm’s 50-day simple moving average is $5.31 and its 200 day simple moving average is $9.32. The firm has a market capitalization of $128.88 million, a PE ratio of -1.45 and a beta of 1.85.

Owlet (NYSE:OWLT – Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.09. The business had revenue of $22.46 million during the quarter, compared to analysts’ expectations of $20.84 million. On average, equities research analysts predict that Owlet, Inc. will post -0.37 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Zacks Research cut shares of Owlet from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 2nd. Weiss Ratings cut shares of Owlet from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. TD Cowen reaffirmed a “buy” rating on shares of Owlet in a research note on Friday, March 6th. Finally, Wall Street Zen raised shares of Owlet from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 10th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $20.00.

View Our Latest Report on OWLT

Owlet Company Profile

(Free Report)

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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