Owlet (NYSE:OWLT) Shares Up 0.2% - Still a Buy?

Owlet, Inc. (NYSE:OWLT - Get Free Report)'s stock 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 were traded 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 Up 3.2 %

The company's fifty day moving average is $4.62 and its two-hundred day moving average is $4.63. The stock has a market cap of $78.28 million, a price-to-earnings ratio of -2.04 and a beta of 1.50.

Insider Activity at Owlet

In related news, insider Jonathan Harris sold 16,439 shares of the firm's stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $4.45, for a total value of $73,153.55. Following the sale, the insider now owns 288,617 shares of the company's stock, valued at $1,284,345.65. This trade represents a 5.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 25,254 shares of company stock valued at $111,558 over the last 90 days. 67.07% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Owlet

Several hedge funds have recently added to or reduced their stakes in OWLT. Essex Investment Management Co. LLC purchased a new position in Owlet in the fourth quarter valued at approximately $113,000. Northern Trust Corp increased its stake in Owlet by 68.4% in the fourth quarter. Northern Trust Corp now owns 44,750 shares of the company's stock valued at $199,000 after purchasing an additional 18,169 shares during the last quarter. Renaissance Technologies LLC increased its stake in Owlet by 52.7% in the fourth quarter. Renaissance Technologies LLC now owns 48,437 shares of the company's stock valued at $216,000 after purchasing an additional 16,718 shares during the last quarter. Geode Capital Management LLC increased its stake 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 purchasing an additional 13,879 shares during the last quarter. Finally, Rosalind Advisors Inc. purchased a new position in Owlet in the third quarter valued at approximately $1,212,000. 72.60% of the stock is currently owned by hedge funds and other institutional investors.

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.