Top investors say Owlet Inc. (OWLT) ticks everything they need

Owlet Inc. (NYSE: OWLT) stock fell -4.89% on Tuesday to $0.26 against a previous-day closing price of $0.27. With 0.51 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.7 million shares. During the session, the Medical Devices company that operates in wider Healthcare sector, reached to the highest price of $0.2713 whereas the lowest price it dropped to was $0.2500. The 52-week range on OWLT shows that it touched its highest point at $5.35 and its lowest point at $0.25 during that stretch. It currently has a 1-year price target of $1.93.

Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of OWLT was down-trending over the past week, with a drop of -3.28%, but this was down by -32.28% over a month. Three-month performance dropped to -26.19% while six-month performance fell -71.15%. The stock lost -92.93% in the past year, while it has lost -54.07% so far this year. A look at the trailing 12-month EPS for OWLT yields -0.71 with Next year EPS estimates of 0.01. For the next quarter, that number is -0.04. This implies an EPS growth rate of -12.30% for this year and 100.00% for next year.

Float and Shares Shorts:

At present, 113.55 million OWLT shares are outstanding with a float of 101.08 million shares on hand for trading. On Apr 27, 2023, short shares totaled 3.21 million, which was 2.73% higher than short shares on Mar 30, 2023. In addition to Mr. Kurt Workman as the firm’s Co-Founder, Pres, CEO & Director, Ms. Kathryn R. Scolnick serves as its CFO & Principal Accounting Officer.

Institutional Ownership:

Through their ownership of 48.33% of OWLT’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 4.90% of OWLT, in contrast to 29.20% held by mutual funds. Shares owned by individuals account for 10.08%. As the largest shareholder in OWLT with 2.78% of the stake, The Vanguard Group, Inc. holds 3,270,114 shares worth 3,270,114. A second-largest stockholder of OWLT, Pacific Investment Management Co, holds 2,905,930 shares, controlling over 2.47% of the firm’s shares. Cresset Asset Management LLC is the third largest shareholder in OWLT, holding 2,593,029 shares or 2.21% stake. With a 1.85% stake in OWLT, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 2,177,118 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 0.79% of OWLT stock, is the second-largest Mutual Fund holder. It holds 923,752 shares valued at 0.29 million. iShares Russell 2000 Growth ETF holds 0.46% of the stake in OWLT, owning 541,481 shares worth 0.17 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, OWLT reported revenue of $18.30M and operating income of -$20.40M. The EBITDA in the recently reported quarter was -$20.30M and diluted EPS was -$0.11.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for OWLT since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With OWLT analysts setting a high price target of $3.00 and a low target of $0.85, the average target price over the next 12 months is $1.93. Based on these targets, OWLT could surge 1053.85% to reach the target high and rise by 226.92% to reach the target low. Reaching the average price target will result in a growth of 642.31% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.