Owlet (NYSE:OWLT) Shares Down 4.9% - Time to Sell?

Owlet, Inc. (NYSE:OWLT - Get Free Report) traded down 4.9% during mid-day trading on Wednesday . The company traded as low as $4.46 and last traded at $4.46. 217,889 shares changed hands during trading, an increase of 583% from the average session volume of 31,885 shares. The stock had previously closed at $4.69.

Owlet Price Performance

The company has a market capitalization of $71.52 million, a P/E ratio of -1.87 and a beta of 1.50. The firm's 50-day moving average price is $4.89 and its 200 day moving average price is $4.53.

Institutional Trading of Owlet

Several institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC raised its holdings in shares of 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 purchasing an additional 13,879 shares during the last quarter. Corsair Capital Management L.P. bought a new stake in Owlet in the 3rd quarter worth about $2,598,000. Finally, Rosalind Advisors Inc. purchased a new stake in Owlet in the 3rd quarter valued at about $1,212,000. 72.60% of the stock is owned by hedge funds and other institutional investors.

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.