MYDA Advisors LLC Cuts Position in Owlet, Inc. (NYSE:OWLT)

MYDA Advisors LLC trimmed its holdings in shares of Owlet, Inc. (NYSE:OWLT) by 30.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 70,000 shares of the company’s stock after selling 30,000 shares during the quarter. MYDA Advisors LLC owned 0.44% of Owlet worth $312,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Essex Investment Management Co. LLC purchased a new stake in shares of Owlet during the 4th quarter valued at $113,000. Renaissance Technologies LLC grew its position in Owlet by 52.7% during the fourth quarter. Renaissance Technologies LLC now owns 48,437 shares of the company’s stock valued at $216,000 after buying an additional 16,718 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Owlet by 31.0% during the third 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 last quarter. 72.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital assumed 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 Stock Performance

OWLT stock opened at $3.26 on Friday. The stock has a fifty day moving average of $4.16 and a 200-day moving average of $4.53. Owlet, Inc. has a fifty-two week low of $2.75 and a fifty-two week high of $5.65. The company has a market capitalization of $54.02 million, a price-to-earnings ratio of -1.36 and a beta of 1.52.

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.