Owlet (NYSE: OWLT) Stock Price Up 0.2% - Is it a Good Buy?

Owlet, Inc. (NYSE: OWLT) saw a slight increase in its share price, rising by 0.2% on Tuesday. The stock reached a high of $4.80 before closing at $4.77. During the day, around 21,809 shares were traded, marking a 31% decrease compared to the average daily volume of 31,804 shares. Previously, the stock had a closing price of $4.76.

Owlet Stock Performance

• Owlet Stock Offering a Buying Opportunity

The company’s fifty-day simple moving average stands at $4.62, with a two-hundred-day simple moving average also at $4.62. Owlet has a market capitalization of $76.49 million, a price-to-earnings (P/E) ratio of -2.00, and a beta of 1.50, suggesting some volatility in its stock price.

Insider Transactions at Owlet

In recent news regarding insider trading, Jonathan Harris, an insider at Owlet, sold 7,740 shares of the company on January 16th. These shares were sold at an average price of $4.30, totaling $33,282. Following this sale, Harris now owns 280,877 shares, valued at approximately $1,207,771.10. This sale represented a 2.68% reduction in his ownership stake. The transaction was reported to the SEC, which can be accessed through their website. Over the last quarter, insiders sold a total of 25,254 shares worth $111,558, and company insiders hold 67.07% of Owlet's stock.

Institutional Investors Weigh In On Owlet

There has been activity from institutional investors in Owlet shares recently. Essex Investment Management Co. LLC acquired a new position in the fourth quarter, investing about $113,000. Geode Capital Management LLC increased its stake by 31% in the third quarter, now holding 58,684 shares valued at $264,000 after purchasing an additional 13,879 shares. Meanwhile, Rosalind Advisors Inc. and Corsair Capital Management L.P. also bought new positions in the firm during this period, investing roughly $1,212,000 and $2,598,000 respectively. Overall, institutional investors control 72.60% of Owlet's shares.

Owlet Company Overview

Owlet, Inc. offers digital solutions for parents both in the United States and abroad. The company’s main focus is providing real-time data and insights for parents about their children's health. Their offerings include the Dream Sock, a wearable monitor that tracks vital signs through pulse oximetry technology; BabySat, designed for infants at higher health risk; the Owlet Cam, which provides video and audio monitoring via smartphones along with sleep and cry detection features; and various accessories.

Investing Considerations

If you're thinking about investing in Owlet, it's worth noting that analysts currently have a "Hold" rating for the stock. While it may have some appeal, there are five other stocks that top analysts suggest could be better investments right now. For anyone investing new capital, careful consideration should be taken as many experts believe these alternative stocks may offer better returns in the current market environment.

Conclusion

Overall, Owlet's recent performance and market movements present a complex picture. Investors should weigh the potential risks against the opportunities presented by the stock.

Owlet, Stock, Investment