Ouster (NASDAQ:OUST) Shares Up 9.5% – Here’s What Happened

Ouster, Inc. (NASDAQ:OUST) rose 9.5% on Thursday . The company traded as high as $48.25 and last traded at $47.53. Approximately 4,434,960 shares changed hands during mid-day trading, an increase of 35% from the average session volume of 3,276,744 shares. The stock had previously closed at $43.41.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on OUST shares. Weiss Ratings initiated coverage on Ouster in a research note on Friday, May 15th. They set a “sell (d-)” rating on the stock. Roth Capital began coverage on shares of Ouster in a report on Friday, May 29th. They set a “buy” rating and a $75.00 price objective for the company. Cantor Fitzgerald cut shares of Ouster from an “overweight” rating to a “neutral” rating in a research report on Thursday, May 7th. Finally, Rosenblatt Securities raised their target price on shares of Ouster from $40.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $48.17.

Ouster Price Performance

The business has a 50-day moving average of $40.61 and a 200 day moving average of $28.63. The company has a market capitalization of $2.72 billion, a PE ratio of -44.62 and a beta of 3.17.

Ouster (NASDAQ:OUST) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.16). Ouster had a negative net margin of 30.12% and a negative return on equity of 21.49%. The firm had revenue of $48.58 million for the quarter, compared to analysts’ expectations of $46.15 million. During the same quarter in the prior year, the business earned ($0.42) EPS. As a group, research analysts anticipate that Ouster, Inc. will post -1.05 EPS for the current year.

Insider Buying and Selling at Ouster

In related news, CEO Charles Angus Pacala sold 29,797 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $38.82, for a total value of $1,156,719.54. Following the sale, the chief executive officer owned 1,072,201 shares in the company, valued at approximately $41,622,842.82. The trade was a 2.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Darien Spencer sold 30,000 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $45.00, for a total transaction of $1,350,000.00. Following the sale, the chief operating officer directly owned 342,366 shares in the company, valued at approximately $15,406,470. The trade was a 8.06% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 910,591 shares of company stock valued at $32,578,780. 5.72% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ouster

Several large investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC lifted its stake in shares of Ouster by 2,532.6% in the 2nd quarter. NewEdge Advisors LLC now owns 1,132 shares of the company’s stock valued at $27,000 after purchasing an additional 1,089 shares during the last quarter. Larson Financial Group LLC boosted its holdings in shares of Ouster by 118.8% in the 4th quarter. Larson Financial Group LLC now owns 1,965 shares of the company’s stock worth $43,000 after purchasing an additional 1,067 shares during the period. SHP Wealth Management bought a new position in shares of Ouster during the 4th quarter valued at approximately $96,000. Van ECK Associates Corp increased its position in shares of Ouster by 17.1% during the 3rd quarter. Van ECK Associates Corp now owns 3,590 shares of the company’s stock valued at $97,000 after purchasing an additional 525 shares during the last quarter. Finally, Global Retirement Partners LLC raised its holdings in Ouster by 139.9% during the 4th quarter. Global Retirement Partners LLC now owns 4,622 shares of the company’s stock valued at $100,000 after buying an additional 2,695 shares during the period. 31.45% of the stock is owned by institutional investors.

Ouster Company Profile

Ouster, Inc is a leading provider of high-resolution digital lidar sensors, software and services designed to enable advanced perception capabilities across a range of industries. Headquartered in San Francisco, California, the company develops modular lidar solutions that capture precise three-dimensional data in real time, supporting applications from autonomous vehicles and robotics to mapping, smart infrastructure and industrial automation.

The company’s core product lineup features multi-beam digital lidar units available in various form factors, including compact models for robotics and drones and larger units for automotive and mapping systems.