Owlet (NYSE:OWLT) Shares Up 0.7% – Still a Buy?

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

Owlet Trading Up 0.7 %

The stock has a 50 day moving average price of $4.77 and a two-hundred day moving average price of $4.55. The company has a market cap of $72.64 million, a price-to-earnings ratio of -1.90 and a beta of 1.50.

Hedge Funds Weigh In On Owlet

Institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC grew 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 acquiring an additional 13,879 shares during the period. Rosalind Advisors Inc. acquired a new position in shares of Owlet in the 3rd quarter valued at approximately $1,212,000. Finally, Corsair Capital Management L.P. bought a new stake in Owlet during the 3rd quarter worth approximately $2,598,000. 72.60% of the stock is currently 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.