Ouster (NASDAQ:OUST) Shares Gap Down – What’s Next?

Shares of Ouster, Inc. (NASDAQ:OUST) gapped down prior to trading on Tuesday . The stock had previously closed at $48.13, but opened at $45.09. Ouster shares last traded at $44.3480, with a volume of 815,122 shares trading hands.

Analysts Set New Price Targets

OUST has been the topic of a number of recent analyst reports. Roth Capital initiated coverage on Ouster in a research note on Friday, May 29th. They issued a “buy” rating and a $75.00 price objective on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Ouster in a research report on Wednesday, August 12th. Rosenblatt Securities restated a “buy” rating and set a $53.00 price target on shares of Ouster in a report on Friday, August 7th. Citigroup restated an “outperform” rating on shares of Ouster in a research report on Tuesday, July 21st. Finally, Oppenheimer reaffirmed 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. Six 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $54.67.

Ouster Trading Down 10.0%

The business has a 50-day moving average of $43.05 and a 200 day moving average of $31.56. The firm has a market capitalization of $3.12 billion, a P/E ratio of -50.40 and a beta of 3.24.

Ouster (NASDAQ:OUST) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.14). The firm had revenue of $54.63 million during the quarter, compared to the consensus estimate of $51.47 million. Ouster had a negative return on equity of 17.49% and a negative net margin of 26.02%. As a group, research analysts forecast that Ouster, Inc. will post -1.08 EPS for the current year.

Insider Buying and Selling

In related news, CTO Mark Frichtl sold 308,742 shares of Ouster stock in a transaction on 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 of the company’s stock, valued at approximately $12,248,193.72. This trade represents a 51.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Darien Spencer sold 30,000 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $45.00, for a total transaction of $1,350,000.00. Following the sale, the chief operating officer owned 342,366 shares of the company’s stock, valued at $15,406,470. This trade represents a 8.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 554,004 shares of company stock worth $22,582,192 over the last quarter. Corporate insiders own 5.72% of the company’s stock.

Institutional Investors Weigh In On Ouster

Several hedge funds and other institutional investors have recently made changes to their positions in OUST. NewEdge Advisors LLC boosted its stake in Ouster by 2,532.6% during the 2nd quarter. NewEdge Advisors LLC now owns 1,132 shares of the company’s stock valued at $27,000 after purchasing an additional 1,089 shares during the last quarter. Larson Financial Group LLC raised its stake in shares of Ouster by 118.8% in the fourth quarter. Larson Financial Group LLC now owns 1,965 shares of the company’s stock worth $43,000 after purchasing an additional 1,067 shares during the last quarter. SHP Wealth Management bought a new position in shares of Ouster in the fourth quarter valued at approximately $96,000. Van ECK Associates Corp boosted its position in shares of Ouster by 17.1% during the third quarter. Van ECK Associates Corp now owns 3,590 shares of the company’s stock valued at $97,000 after buying an additional 525 shares during the last quarter. Finally, Global Retirement Partners LLC grew its holdings in Ouster by 139.9% during the fourth quarter. Global Retirement Partners LLC now owns 4,622 shares of the company’s stock worth $100,000 after buying an additional 2,695 shares in 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.