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

Shares of Owlet, Inc. (NYSE:OWLT) rose 0.7% on Thursday . The company 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 1.6 %

The company has a market capitalization of $72.80 million, a P/E ratio of -1.90 and a beta of 1.50. The stock has a 50 day moving average of $4.76 and a 200-day moving average of $4.55.

Institutional Investors Weigh In On Owlet

A number of institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC raised its position in shares of Owlet by 31.0% during the third quarter. Geode Capital Management LLC now owns 58,684 shares of the company’s stock valued at $264,000 after buying an additional 13,879 shares during the last quarter. Rosalind Advisors Inc. purchased a new position in Owlet during the third quarter valued at $1,212,000. Finally, Corsair Capital Management L.P. bought a new stake in Owlet in the 3rd quarter valued at $2,598,000. Hedge funds and other institutional investors own 72.60% of the company’s stock.

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.