Ouster (NASDAQ:OUST) Trading Up 10.3% – Here’s Why

Ouster, Inc. (NASDAQ:OUST)’s stock price was up 10.3% during mid-day trading on Monday . The company traded as high as $54.92 and last traded at $54.9760. Approximately 2,934,887 shares were traded during mid-day trading, a decline of 8% from the average daily volume of 3,199,996 shares. The stock had previously closed at $49.84.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on OUST. Rosenblatt Securities upped their target price on Ouster from $40.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Weiss Ratings started coverage on Ouster in a report on Friday, May 15th. They set a “sell (d-)” rating for the company. Roth Mkm assumed coverage on Ouster in a report on Friday, May 29th. They set a “buy” rating and a $75.00 price target for the company. Finally, Cantor Fitzgerald lowered Ouster from an “overweight” rating to a “neutral” rating in a research note on Thursday, May 7th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Ouster currently has an average rating of “Hold” and a consensus price target of $48.17.

Ouster Stock Performance

The firm’s fifty day moving average is $38.72 and its 200-day moving average is $27.84. The company has a market capitalization of $3.29 billion, a P/E ratio of -54.52 and a beta of 3.17.

Ouster (NASDAQ:OUST) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.16). The company had revenue of $48.58 million during the quarter, compared to the consensus estimate 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 period in the previous year, the company earned ($0.42) EPS. As a group, analysts expect that Ouster, Inc. will post -1.05 EPS for the current fiscal year.

Insider Activity at Ouster

In related news, CFO Kenneth P. Gianella sold 54,337 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $38.82, for a total transaction of $2,109,362.34. Following the sale, the chief financial officer owned 301,014 shares in the company, valued at $11,685,363.48. The trade was a 15.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CRO Cyrille Jacquemet sold 9,433 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $40.00, for a total value of $377,320.00. Following the completion of the transaction, the executive directly owned 123,158 shares of the company’s stock, valued at approximately $4,926,320. The trade was a 7.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 910,591 shares of company stock worth $32,578,780 over the last 90 days. 5.72% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ouster

Institutional investors have recently added to or reduced their stakes in the business. Invesco Ltd. raised its stake in shares of 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 acquiring an additional 536,413 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Ouster during the 1st quarter worth $8,915,000. Handelsbanken Fonder AB lifted its holdings in 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 period. Squarepoint Ops LLC lifted its holdings in Ouster by 517.5% during the 4th quarter. Squarepoint Ops LLC now owns 401,727 shares of the company’s stock worth $8,693,000 after buying an additional 336,673 shares during the period. Finally, Algert Global LLC grew its position in shares of Ouster by 192.6% in the 3rd quarter. Algert Global LLC now owns 500,902 shares of the company’s stock valued at $13,549,000 after buying an additional 329,735 shares during the last quarter. 31.45% of the stock is owned by 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.