Sunday, June 26, 2022

The Potential Rise in the Price of Owlet Inc. (OWLT) following insiders activity

Owlet Inc.’s recently made public that its Chief Executive Officer Workman Kurt acquired Company’s shares for reported $46366.0 on Mar 16. In the deal valued at $2.84 per share,16,326 shares were bought. As a result of this transaction, Workman Kurt now holds 2,117,349 shares worth roughly $ 4.34 million.

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Then, Workman Kurt bought 15,169 shares, generating $35,192 in total proceeds. Upon buying the shares at $2.32, the Chief Executive Officer now owns 2,101,023 shares.

Before that, Workman Kurt bought 2,152 shares. Owlet Inc. shares valued at $4,820 were divested by the Chief Executive Officer at a price of $2.24 per share. As a result of the transaction, Workman Kurt now holds 2,085,854 shares, worth roughly $4.28 million.

Taking this into account, BofA Securities downgraded its Owlet Inc. [OWLT] rating to a Neutral from a a Buy in a research note published on Tuesday, October 05, 2021; the price target was decreased to $5.50 from $8.50. PT values the company’s stock at a premium of 62.73 to its Tuesday closing price. A number of analysts have revised their coverage, including BofA Securities’s analysts, who began to cover the stock in early September with a ‘”a Buy”‘ rating. Citigroup began covering OWLT with a “Neutral” recommendation on August 05, 2021. Cowen started covering the stock on July 26, 2021. It rated OWLT as “an Outperform”.

Price Performance Review of OWLT

On Tuesday, Owlet Inc. [NYSE:OWLT] saw its stock fall -12.39% to $2.05. On the same session, the stock had its day’s lowest price of $2.00, but rose to a high of $2.42. Over the last five days, the stock has gained 12.64%. Owlet Inc. shares have fallen nearly -23.22% since the year began. Nevertheless, the stocks have fallen -79.46% over the past one year. While a 52-week high of $11.43 was reached on 06/06/22, a 52-week low of $1.59 was recorded on 02/22/22. SMA at 50 days reached $3.67, while 200 days put it at $3.56. A total of 0.73 million shares were traded, compared to the trading of 0.45 million shares in the previous session.

Levels Of Support And Resistance For OWLT Stock

The 24-hour chart illustrates a support level at 1.89, which if violated will result in even more drops to 1.74. On the upside, there is a resistance level at 2.31. A further resistance level may holdings at 2.58. The Relative Strength Index (RSI) on the 14-day chart is 33.52, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.76, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 93.22%. Stochastics %K at 12.24% indicates the stock is a buying.

How much short interest is there in Owlet Inc.?

A steep rise in short interest was recorded in Owlet Inc. stocks on Apr 28, 2022, growing by 90000.0 shares to a total of 1.38 million shares. Yahoo Finance data shows the prior-month short interest on Mar 30, 2022 was 1.29 million shares. There was a rise of 6.52%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 1.71% of the overall stock float, the days-to-cover ratio (short ratio) rose to 6.41.

Owlet Inc. [OWLT] – Who Are The Largest Shareholders?

At present, BlackRock Fund Advisors is holding 1,049,506 shares valued at $5.04 million. Balyasny Asset Management LP owned 738,636 shares of the company at the time of its most recent 13F filing, worth $3.55 million.

According to FactSet, Owlet Inc.’s share price will average $4.58 in the next year, based on opinions of analysts polled by the firm. This is up nearly 92.31 percent from its previous closing price of $2.34. Analysts expect Owlet Inc. stock to reach the higher price of $6.00, while the lowest price estimate is $3.25. However, 3 analysts have rated OWLT stock as an Overweight in their predictions for 2022.

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