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

Owlet (NYSE:OWLT) announced its quarterly earnings results on Tuesday. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.48) by $0.41, Zacks reports.

Owlet Trading Up 1.6 %

Shares of OWLT stock traded up $0.07 on Tuesday, hitting $4.57. 38,648 shares of the stock were exchanged, compared to its average volume of 33,514. The firm has a market capitalization of $73.28 million, a PE ratio of -1.91 and a beta of 1.50. Owlet has a one year low of $3.20 and a one year high of $5.96. The firm’s 50 day moving average is $4.63 and its two-hundred day moving average is $4.66.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital assumed coverage on Owlet in a report on Friday, February 21st. They set a “buy” rating and a $8.50 price target on the stock.

Insiders Place Their Bets

In other Owlet news, insider Jonathan Harris sold 7,740 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $4.30, for a total value of $33,282.00. Following the completion of the transaction, the insider now owns 280,877 shares in the company, 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 through this hyperlink. Insiders sold 25,254 shares of company stock worth $111,558 over the last quarter. 67.07% of the stock is currently owned by company insiders.

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.