(RTTNews) - Stock of Owlet, Inc. (OWLT) is moving down about 31 percent on Friday morning trading after the company announced wider loss in fourth quarter. The company reported a net loss of $9.8 million compared to $9.6 million, last year.
The company's stock is currently trading at $8.01, down 31.22 percent or $3.64, over the previous close of $11.65 on the New York Stock Exchange. It has traded between $2.75 and $16.94 in the past one year.
Meanwhile, the company's revenue for the quarter increased to $26.6 million from $20.5 million in the previous year, primarily due to higher sales of Dream product suite and Owlet360 subscription service.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
