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.
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