Rosalind Advisors Inc. Sells 220,559 Shares of Owlet, Inc. (NYSE:OWLT)

Rosalind Advisors Inc. lowered its position in Owlet, Inc. (NYSE:OWLT - Free Report) by 81.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 49,441 shares of the company's stock after selling 220,559 shares during the period. Owlet accounts for 0.1% of Rosalind Advisors Inc.'s portfolio, making the stock its 28th largest holding. Rosalind Advisors Inc. owned 0.31% of Owlet worth $220,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Corsair Capital Management L.P. acquired a new stake in shares of Owlet in the third quarter worth about $2,598,000. Geode Capital Management LLC raised its stake in shares of Owlet by 31.0% in the 3rd 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 in the last quarter. Finally, Essex Investment Management Co. LLC acquired a new stake in Owlet in the 4th quarter worth approximately $113,000. Institutional investors own 72.60% of the company's stock.

Insider Buying and Selling

In related news, insider Jonathan Harris sold 7,740 shares of the company'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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 24,361 shares of company stock valued at $107,218 over the last three months. 67.07% of the stock is owned by corporate insiders.

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Owlet Stock Performance

Shares of Owlet stock traded down $0.02 during trading on Wednesday, reaching $3.99. The company's stock had a trading volume of 21,270 shares, compared to its average volume of 32,686. Owlet, Inc. has a one year low of $3.20 and a one year high of $5.65. The firm has a market cap of $66.02 million, a price-to-earnings ratio of -1.67 and a beta of 1.49. The business's fifty day moving average price is $4.60 and its 200-day moving average price is $4.65.

Analysts Set New Price Targets

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

Owlet 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.