Essex Investment Management Co. LLC Purchases New Position in Owlet, Inc. (NYSE:OWLT)

Essex Investment Management Co. LLC acquired a new position in shares of Owlet, Inc. (NYSE:OWLT) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 25,461 shares of the company’s stock, valued at approximately $113,000. Essex Investment Management Co. LLC owned approximately 0.16% of Owlet at the end of the most recent reporting period.

Separately, Corsair Capital Management L.P. bought a new position in Owlet during the 3rd quarter valued at about $2,598,000. 72.60% of the stock is currently owned by institutional investors and hedge funds.

Owlet Price Performance

OWLT opened at $4.85 on Monday. The stock has a market capitalization of $77.69 million, a P/E ratio of -2.03 and a beta of 1.49. The company’s 50 day simple moving average is $4.65 and its 200-day simple moving average is $4.67. Owlet, Inc. has a one year low of $3.20 and a one year high of $5.96.

Insider Activity

In other news, insider Jonathan Harris sold 7,740 shares of Owlet stock in a transaction that occurred 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 owns 280,877 shares in the company, valued at $1,207,771.10. The trade was a 2.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders sold 25,254 shares of company stock valued at $111,558. Company insiders own 67.07% of the company’s stock.

Analyst Ratings Changes

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

Owlet 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.