Ouster (NASDAQ:OUST) Trading 2.4% Higher – Time to Buy?

Ouster, Inc. (NASDAQ:OUST) shares were up 2.4% on Monday . The stock traded as high as $51.50 and last traded at $47.68. Approximately 6,104,031 shares changed hands during mid-day trading, an increase of 104% from the average session volume of 2,990,863 shares. The stock had previously closed at $46.57.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on OUST shares. Oppenheimer reissued an “outperform” rating and set a $40.00 price objective on shares of Ouster in a research report on Tuesday, March 3rd. Weiss Ratings assumed coverage on Ouster in a report on Friday, May 15th. They set a “sell (d-)” rating for the company. Cantor Fitzgerald downgraded Ouster from an “overweight” rating to a “neutral” rating in a research note on Thursday, May 7th. Rosenblatt Securities lifted their price objective on Ouster from $40.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Finally, Roth Mkm initiated coverage on Ouster in a research note on Friday, May 29th. They set a “buy” rating and a $75.00 price objective for the company. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $48.17.

Ouster Trading Down 9.8%

The business’s 50 day moving average is $34.71 and its two-hundred day moving average is $26.43. The company has a market cap of $2.56 billion, a PE ratio of -41.98 and a beta of 3.24.

Ouster (NASDAQ:OUST) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share (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 analysts’ expectations of $46.15 million. Ouster had a negative return on equity of 21.49% and a negative net margin of 30.12%.During the same quarter in the previous year, the company posted ($0.42) EPS. As a group, equities research analysts predict that Ouster, Inc. will post -1.05 EPS for the current fiscal year.

Insider Activity at Ouster

In related news, CEO Charles Angus Pacala sold 29,797 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $38.82, for a total value of $1,156,719.54. Following the transaction, the chief executive officer directly owned 1,072,201 shares of the company’s stock, valued at approximately $41,622,842.82. The trade was a 2.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Mark Frichtl sold 308,742 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $41.53, for a total value of $12,822,055.26. Following the completion of the transaction, the chief technology officer owned 294,924 shares of the company’s stock, valued at $12,248,193.72. The trade was a 51.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 910,591 shares of company stock worth $32,578,780 in the last three months. Corporate insiders own 5.72% of the company’s stock.

Hedge Funds Weigh In On Ouster

Several institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC boosted its holdings in shares of Ouster by 610.1% during the 1st quarter. AQR Capital Management LLC now owns 296,311 shares of the company’s stock valued at $2,661,000 after purchasing an additional 254,580 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Ouster by 7.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,344 shares of the company’s stock worth $255,000 after purchasing an additional 2,037 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Ouster by 138.2% in the second quarter. Legal & General Group Plc now owns 9,990 shares of the company’s stock worth $242,000 after purchasing an additional 5,796 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Ouster by 22.0% in the second quarter. American Century Companies Inc. now owns 63,298 shares of the company’s stock worth $1,535,000 after buying an additional 11,416 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Ouster by 1,521.8% during the second quarter. Invesco Ltd. now owns 571,662 shares of the company’s stock valued at $13,863,000 after buying an additional 536,413 shares during the last quarter. 31.45% of the stock is owned by hedge funds and other institutional investors.

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.