During the last session, Owlet Inc. (NYSE:OWLT)’s traded shares were 0.16 million. At the end of the trading day, the stock’s price was $2.31, reflecting an intraday gain of 5.00% or $0.11. The 52-week high for the OWLT share is $10.57, that puts it down -357.58 from that peak though still a striking 32.47% gain since the share price plummeted to a 52-week low of $1.56. The company’s market capitalization is $238.69M, and the average intraday trading volume over the past 10 days was 0.13 million shares, and the average trade volume was 381.30K shares over the past three months.
Owlet Inc. (OWLT) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.70. OWLT has a Sell rating from 0 analyst(s) out of 3 analysts who have looked at this stock. 2 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 1 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.2.
Owlet Inc. (NYSE:OWLT) trade information
Owlet Inc. (OWLT) registered a 5.00% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 5.00% in intraday trading to $2.31 this Friday, 08/05/22, hitting a weekly high. The stock’s 5-day price performance is 8.45%, and it has moved by 23.53% in 30 days. Based on these gigs, the overall price performance for the year is -74.89%. The short interest in Owlet Inc. (NYSE:OWLT) is 1.73 million shares and it means that shorts have 4.51 day(s) to cover.
The consensus price target of analysts on Wall Street is $4.58, which implies an increase of 49.56% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $3.25 and $6.00 respectively. As a result, OWLT is trading at a discount of -159.74% off the target high and -40.69% off the low.
Owlet Inc. (OWLT) estimates and forecasts
Statistics show that Owlet Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Owlet Inc. (OWLT) shares have gone up 22.87% during the last six months, with a year-to-date growth rate more than the industry average at 13.16% against 12.60. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 33.30% this quarter and then drop -46.20% in the quarter after that. In the rating firms’ projections, revenue will increase 50.40% compared to the previous financial year.
Revenue for the current quarter is expected to be $23.93 million as predicted by 2 analyst(s). Meanwhile, a consensus of 2 analyst(s) estimates revenue growth to $29.32 million by the end of Sep 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $24.94 million and $30.4 million respectively. In this case, analysts expect current quarter sales to shrink by -4.00% and then drop by -3.60% in the coming quarter.
While earnings are projected to return 23.70% in 2022, the next five years will return 16.20% per annum.
Owlet Inc. is due to release its next quarterly earnings between March 23 and March 28. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Owlet Inc. (NYSE:OWLT)’s Major holders
Owlet Inc. insiders own 12.04% of total outstanding shares while institutional holders control 41.85%, with the float percentage being 47.58%. Eclipse Ventures, LLC is the largest shareholder of the company, while 53 institutions own stock in it. As of Mar 30, 2022, the company held over 28.49 million shares (or 25.11% of all shares), a total value of $126.79 million in shares.
The next largest institutional holding, with 4.56 million shares, is of Pelion, Inc.’s that is approximately 4.02% of outstanding shares. At the market price on Jun 29, 2022, these shares were valued at $7.75 million.
Also, the Mutual Funds coming in first place with the largest holdings of Owlet Inc. (OWLT) shares are Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund. Data provided on Mar 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 1.69 million shares. This amounts to just over 1.49 percent of the company’s overall shares, with a $7.52 million market value. The same data shows that the other fund manager holds slightly less at 0.89 million, or about 0.79% of the stock, which is worth about $3.97 million.