Ouster (NASDAQ:OUST) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Ouster, Inc. (NASDAQ:OUST)’s share price crossed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $32.36 and traded as high as $33.06. Ouster shares last traded at $32.79, with a volume of 3,070,541 shares traded.

Wall Street Analyst Weigh In

OUST has been the topic of a number of recent analyst reports. Citigroup restated an “outperform” rating on shares of Ouster in a research report on Tuesday, July 21st. Oppenheimer reiterated an “outperform” rating and set a $57.00 price objective (up from $42.00) on shares of Ouster in a research report on Wednesday, July 15th. Northland Securities set a $60.00 target price on shares of Ouster and gave the stock an “outperform” rating in a research note on Tuesday, July 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Ouster in a report on Wednesday, August 12th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $53.00 price target on shares of Ouster in a research report on Thursday, August 27th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $54.67.

Ouster Price Performance

The stock has a fifty day simple moving average of $36.22 and a two-hundred day simple moving average of $32.39. The firm has a market capitalization of $2.32 billion, a P/E ratio of -37.37 and a beta of 3.23.

Ouster (NASDAQ:OUST) last posted 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 return on equity of 17.49% and a negative net margin of 26.02%. The business had revenue of $54.63 million for the quarter, compared to the consensus estimate of $51.47 million. As a group, sell-side analysts expect that Ouster, Inc. will post -1.07 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CRO Cyrille Jacquemet sold 8,896 shares of the company’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 transaction of $302,108.16. Following the transaction, the executive directly owned 105,538 shares of the company’s stock, valued at approximately $3,584,070.48. This represents a 7.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Megan Chung sold 11,484 shares of the 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 transaction, the general counsel owned 189,291 shares in the company, valued at approximately $6,428,322.36. The trade was a 5.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 173,037 shares of company stock worth $6,720,238 over the last three months. Insiders own 5.72% of the company’s stock.

Hedge Funds Weigh In On Ouster

A number of large investors have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership acquired a new position in Ouster during the first quarter worth $8,915,000. Dimensional Fund Advisors LP grew its holdings in shares of Ouster by 7.2% during the first quarter. Dimensional Fund Advisors LP now owns 483,871 shares of the company’s stock valued at $8,889,000 after buying an additional 32,440 shares during the last quarter. Baird Financial Group Inc. acquired a new position in shares of Ouster during the second quarter valued at about $25,218,000. Bastion Asset Management Inc. bought a new stake in shares of Ouster during the first quarter worth about $5,271,000. Finally, Wellington Management Group LLP bought a new stake in shares of Ouster during the second quarter worth about $15,384,000. 31.45% of the stock is currently owned by institutional investors.

About Ouster

Ouster, Inc is a technology company that develops and manufactures digital lidar sensors and related software. Its lidar systems use laser light to detect and measure surrounding objects, supporting applications that require real-time perception, mapping, and automation.

The company’s products are designed for customers in the automotive, industrial automation, robotics, infrastructure, mapping, security, and smart-city markets. Ouster provides lidar sensors for uses such as autonomous and assisted driving, warehouse and industrial operations, traffic monitoring, asset inspection, and other machine-perception applications.