Owlet (NYSE:OWLT) Trading 0.2% Higher – Should You Buy?

Owlet, Inc. (NYSE:OWLT)’s share price was up 0.2% on Tuesday . The stock traded as high as $4.80 and last traded at $4.77. Approximately 21,809 shares changed hands during mid-day trading, a decline of 31% from the average daily volume of 31,804 shares. The stock had previously closed at $4.76.

Owlet Stock Performance

The company’s fifty day simple moving average is $4.62 and its two-hundred day simple moving average is $4.62. The stock has a market capitalization of $76.49 million, a P/E ratio of -2.00 and a beta of 1.50.

Insider Transactions at Owlet

In other Owlet news, insider Jonathan Harris sold 7,740 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $4.30, for a total value of $33,282.00. Following the completion of the sale, the insider now owns 280,877 shares of the company’s stock, valued at $1,207,771.10. The trade was a 2.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last quarter, insiders have sold 25,254 shares of company stock worth $111,558. Company insiders own 67.07% of the company’s stock.

Institutional Investors Weigh In On Owlet

Several institutional investors and hedge funds have recently bought and sold shares of OWLT. Essex Investment Management Co. LLC bought a new position in shares of Owlet in the 4th quarter valued at $113,000. Geode Capital Management LLC grew its position in Owlet by 31.0% in the third quarter. Geode Capital Management LLC now owns 58,684 shares of the company’s stock valued at $264,000 after acquiring an additional 13,879 shares during the last quarter. Rosalind Advisors Inc. bought a new position in shares of Owlet in the third quarter worth about $1,212,000. Finally, Corsair Capital Management L.P. bought a new position in shares of Owlet in the third quarter worth about $2,598,000. Institutional investors own 72.60% of the company’s stock.

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.