Owlet (NYSE:OWLT) Shares Up 0.7% – Here’s Why

Owlet, Inc. (NYSE:OWLT) shares traded up 0.7% on Thursday . The stock traded as high as $4.63 and last traded at $4.53. 18,314 shares were traded during trading, a decline of 60% from the average session volume of 46,083 shares. The stock had previously closed at $4.50.

Owlet Stock Up 1.6 %

The stock has a market cap of $72.80 million, a PE ratio of -1.90 and a beta of 1.50. The stock has a fifty day moving average of $4.76 and a 200-day moving average of $4.55.

Institutional Investors Weigh In On Owlet

Several hedge funds have recently modified their holdings of the stock. Rosalind Advisors Inc. purchased a new position in Owlet during the 3rd quarter worth $1,212,000. Corsair Capital Management L.P. purchased a new position in Owlet during the third quarter worth about $2,598,000. Finally, Geode Capital Management LLC raised its holdings in Owlet by 31.0% during the third quarter. Geode Capital Management LLC now owns 58,684 shares of the company’s stock worth $264,000 after purchasing an additional 13,879 shares in the last quarter. 72.60% of the stock is owned by institutional investors and hedge funds.

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.