Owlet (NYSE:OWLT) Trading 0.7% Higher – Still a Buy?

Shares of Owlet, Inc. (NYSE:OWLT) rose 0.7% during mid-day trading on Thursday . The company traded as high as $4.63 and last traded at $4.53. Approximately 18,314 shares were traded during mid-day 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 firm has a market capitalization of $72.64 million, a price-to-earnings ratio of -1.90 and a beta of 1.50. The company’s 50 day moving average is $4.77 and its 200-day moving average is $4.55.

Institutional Trading of Owlet

A number of hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC boosted its holdings in shares of Owlet by 31.0% during the 3rd quarter. Geode Capital Management LLC now owns 58,684 shares of the company’s stock worth $264,000 after buying an additional 13,879 shares during the period. Rosalind Advisors Inc. acquired a new stake in Owlet during the third quarter worth approximately $1,212,000. Finally, Corsair Capital Management L.P. acquired a new stake in Owlet during the third quarter worth approximately $2,598,000. 72.60% of the stock is owned by institutional investors and hedge funds.

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.