Owlet (NYSE:OWLT) Issues Quarterly Earnings Results

Owlet (NYSE:OWLT - Get Free Report) released its earnings results on Tuesday. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.48) by $0.41, Zacks reports. The company had revenue of $20.50 million for the quarter, compared to analyst estimates of $17.11 million. Owlet updated its FY 2025 guidance to EPS.

Owlet Stock Down 2.3 %

OWLT stock traded down $0.12 during midday trading on Friday, reaching $4.85. 51,412 shares of the company's stock traded hands, compared to its average volume of 34,403. Owlet has a 52 week low of $3.20 and a 52 week high of $5.96. The company has a market cap of $77.69 million, a price-to-earnings ratio of -2.03 and a beta of 1.49. The firm's fifty day moving average price is $4.64 and its 200-day moving average price is $4.67.

Insider Transactions at Owlet

In other news, insider Jonathan Harris sold 7,740 shares of the company's stock in a transaction on 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 in the company, valued at $1,207,771.10. This represents a 2.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold a total of 25,254 shares of company stock worth $111,558 in the last quarter. 67.07% of the stock is currently owned by corporate insiders.

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Wall Street Analyst Weigh In

Separately, Lake Street Capital assumed coverage on shares of Owlet in a research note on Friday, February 21st. They set a "buy" rating and a $8.50 price target for the company.

About Owlet

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.