Ouster (NASDAQ:OUST) Trading Up 8.3% – Should You Buy?

Ouster, Inc. (NASDAQ:OUST) was up 8.3% during trading on Tuesday . The company traded as high as $37.91 and last traded at $37.65. Approximately 666,409 shares changed hands during trading, a decline of 80% from the average daily volume of 3,291,259 shares. The stock had previously closed at $34.77.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Cantor Fitzgerald lowered shares of Ouster from an “overweight” rating to a “neutral” rating in a report on Thursday, May 7th. Weiss Ratings initiated coverage on shares of Ouster in a research report on Friday, May 15th. They set a “sell (d-)” rating on the stock. Citigroup reaffirmed an “outperform” rating on shares of Ouster in a report on Tuesday. Oppenheimer reiterated an “outperform” rating and issued a $57.00 price objective (up from $42.00) on shares of Ouster in a research report on Wednesday, July 15th. Finally, Roth Capital began coverage on shares of Ouster in a research note on Friday, May 29th. They set a “buy” rating and a $75.00 target price on the stock. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Ouster currently has an average rating of “Moderate Buy” and a consensus price target of $51.00.

Ouster Stock Performance

The company has a market cap of $2.46 billion, a price-to-earnings ratio of -40.26 and a beta of 3.17. The firm’s 50 day simple moving average is $41.92 and its 200-day simple moving average is $29.34.

Ouster (NASDAQ:OUST) last issued its earnings results on Tuesday, May 5th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.16). The business had revenue of $48.58 million during the quarter, compared to analyst estimates of $46.15 million. Ouster had a negative net margin of 30.12% and a negative return on equity of 21.49%. During the same quarter last year, the company earned ($0.42) earnings per share. As a group, sell-side analysts expect that Ouster, Inc. will post -1.03 EPS for the current fiscal year.

Insider Buying and Selling

In other Ouster news, CTO Mark Frichtl sold 308,742 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $41.53, for a total value of $12,822,055.26. Following the completion of the sale, the chief technology officer owned 294,924 shares in the company, valued at approximately $12,248,193.72. This represents a 51.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Cyrille Jacquemet sold 9,433 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $40.00, for a total transaction of $377,320.00. Following the completion of the transaction, the executive directly owned 123,158 shares in the company, valued at $4,926,320. This trade represents a 7.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 749,754 shares of company stock worth $28,554,907 in the last 90 days. Corporate insiders own 5.72% of the company’s stock.

Hedge Funds Weigh In On Ouster

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OUST. Invesco Ltd. boosted its holdings in Ouster by 1,521.8% in the 2nd quarter. Invesco Ltd. now owns 571,662 shares of the company’s stock valued at $13,863,000 after purchasing an additional 536,413 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Ouster during the 1st quarter worth approximately $8,915,000. Handelsbanken Fonder AB increased its holdings in shares of Ouster by 130.7% during the 4th quarter. Handelsbanken Fonder AB now owns 715,646 shares of the company’s stock worth $15,479,000 after buying an additional 405,441 shares during the last quarter. Squarepoint Ops LLC raised its position in shares of Ouster by 517.5% during the 4th quarter. Squarepoint Ops LLC now owns 401,727 shares of the company’s stock valued at $8,693,000 after buying an additional 336,673 shares during the period. Finally, Bastion Asset Management Inc. purchased a new stake in shares of Ouster during the 1st quarter valued at approximately $5,271,000. Institutional investors and hedge funds own 31.45% of the company’s stock.

About Ouster

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.