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Owlet Stock Soars to 3-Year High Amidst Buying Frenzy
11 Dec
Summary
- Owlet stock reached a new three-year high, trading at $15.20.
- The company's shares have surged an impressive 200% over the past year.
- Analysts recommend Owlet as a 'Strong Buy' despite recent overvaluation concerns.
Owlet Baby Care (OWLT) is experiencing a significant surge in its stock performance, recently hitting a three-year high of $15.20. Over the past year, the company's shares have appreciated by an impressive 200%, reflecting strong investor confidence and positive market sentiment. The digital parenting platform, valued at $250 million, aims to provide parents with real-time data and insights through products like the Dream Sock.
Technically, Owlet exhibits robust momentum, with a 100% "Buy" opinion from Barchart and a confirmed Trend Seeker "Buy" signal since November 11, which has seen the stock gain over 53%. Its Weighted Alpha stands at +268.63, and it has made 14 new highs in the last month alone, indicating strong upward trajectory.
Despite the positive technicals, some financial analysts, like those at Morningstar, note that the stock may be overvalued by 10% following its rapid ascent. However, Wall Street generally maintains a "Strong Buy" rating, with projections of revenue growth around 33.97% this year and 22.11% next year. Earnings are expected to rebound significantly next year after a projected decrease this year.
