Owlet (NYSE:OWLT) Shares Down 4.9% – Should You Sell?

Owlet, Inc. (NYSE:OWLT)’s share price traded down 4.9% during mid-day trading on Wednesday . The stock traded as low as $4.46 and last traded at $4.46. 217,889 shares were traded during trading, an increase of 583% from the average session volume of 31,885 shares. The stock had previously closed at $4.69.

Owlet Stock Up 4.0 %

The business’s fifty day moving average price is $4.89 and its 200 day moving average price is $4.54. The firm has a market capitalization of $74.41 million, a PE ratio of -1.94 and a beta of 1.50.

Institutional Investors Weigh In On Owlet

Several hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC boosted its position in shares of Owlet by 31.0% in the third quarter. Geode Capital Management LLC now owns 58,684 shares of the company’s stock worth $264,000 after acquiring an additional 13,879 shares during the last quarter. Rosalind Advisors Inc. acquired a new position in Owlet during the third quarter worth approximately $1,212,000. Finally, Corsair Capital Management L.P. purchased a new position in Owlet during the third quarter worth approximately $2,598,000. Institutional investors and hedge funds own 72.60% of the company’s stock.

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.