Ouster, Inc. (NASDAQ:OUST) Stock Has Consensus Price Target of $54.67

Shares of Ouster, Inc. (NASDAQ:OUST) have earned an average recommendation of “Moderate Buy” from the eight brokerages that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $54.67.

A number of equities analysts have commented on OUST shares. Oppenheimer reissued an “outperform” rating and issued a $57.00 price objective (up from $42.00) on shares of Ouster in a research note on Wednesday, July 15th. Rosenblatt Securities restated a “buy” rating and issued a $53.00 target price on shares of Ouster in a report on Thursday, August 27th. Citigroup restated an “outperform” rating on shares of Ouster in a research report on Tuesday, July 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Ouster in a research report on Wednesday, August 12th. Finally, Northland Securities set a $60.00 price target on shares of Ouster and gave the company an “outperform” rating in a report on Tuesday, July 21st.

Insider Activity at Ouster

In other news, General Counsel Megan Chung sold 11,484 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $33.96, for a total value of $389,996.64. Following the completion of the sale, the general counsel directly owned 189,291 shares of the company’s stock, valued at $6,428,322.36. This trade represents a 5.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Darien Spencer sold 12,808 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $33.96, for a total value of $434,959.68. Following the completion of the sale, the chief operating officer directly owned 286,998 shares of the company’s stock, valued at $9,746,452.08. The trade was a 4.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 173,037 shares of company stock valued at $6,720,238 over the last ninety days. 5.72% of the stock is currently owned by company insiders.

Institutional Trading of Ouster

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC lifted its position in Ouster by 83.4% in the third quarter. Farther Finance Advisors LLC now owns 895 shares of the company’s stock worth $36,000 after buying an additional 407 shares during the last quarter. GAMMA Investing LLC boosted its stake in Ouster by 31.0% during the third quarter. GAMMA Investing LLC now owns 1,441 shares of the company’s stock worth $58,000 after buying an additional 341 shares during the period. Allworth Financial LP boosted its stake in Ouster by 40.3% during the second quarter. Allworth Financial LP now owns 1,190 shares of the company’s stock worth $74,000 after buying an additional 342 shares during the period. Integrated Wealth Concepts LLC purchased a new position in Ouster during the second quarter worth $74,000. Finally, MCF Advisors LLC increased its position in Ouster by 34.4% during the second quarter. MCF Advisors LLC now owns 1,344 shares of the company’s stock valued at $84,000 after acquiring an additional 344 shares during the last quarter. Hedge funds and other institutional investors own 31.45% of the company’s stock.

Ouster Stock Performance

Shares of OUST opened at $31.87 on Thursday. The company’s fifty day moving average is $39.05 and its 200 day moving average is $36.73. Ouster has a fifty-two week low of $16.40 and a fifty-two week high of $63.79. The stock has a market capitalization of $2.30 billion, a PE ratio of -37.06 and a beta of 3.23.

Ouster (NASDAQ:OUST) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.14). Ouster had a negative net margin of 26.02% and a negative return on equity of 17.49%. The business had revenue of $54.63 million for the quarter, compared to analysts’ expectations of $51.47 million. As a group, research analysts forecast that Ouster will post -1.07 earnings per share for the current year.

About Ouster

Ouster, Inc is a technology company that develops lidar sensors and software for machine perception. Its digital lidar products use laser light to create three-dimensional representations of surrounding environments, helping machines detect objects, measure distances, and operate with greater situational awareness.

The company’s product portfolio includes lidar sensors for industrial automation, robotics, autonomous vehicles, transportation, mapping, and smart-infrastructure applications.