Ouster (NASDAQ:OUST) Announces Earnings Results

Ouster (NASDAQ:OUST) posted its earnings results on Tuesday. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.12), FiscalAI reports. The firm had revenue of $59.33 million during the quarter, compared to the consensus estimate of $56.30 million. Ouster had a negative net margin of 26.02% and a negative return on equity of 17.49%.

Ouster Trading Up 2.7%

OUST stock traded up $0.76 during trading on Tuesday, hitting $28.98. The company had a trading volume of 3,197,569 shares, compared to its average volume of 3,061,437. The stock has a market cap of $2.09 billion, a PE ratio of -33.70 and a beta of 3.23. The business has a 50-day moving average of $35.69 and a 200-day moving average of $32.43. Ouster has a one year low of $16.40 and a one year high of $63.79.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, COO Darien Spencer sold 12,808 shares of the stock in a transaction on Monday, September 14th. The shares were sold at an average price of $33.96, for a total transaction of $434,959.68. Following the completion of the sale, the chief operating officer directly owned 286,998 shares in the company, valued at $9,746,452.08. This represents a 4.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Megan Chung sold 11,484 shares of Ouster stock in a transaction on Monday, September 14th. The stock was sold at an average price of $33.96, for a total transaction of $389,996.64. Following the transaction, the general counsel directly owned 189,291 shares of the company’s stock, valued at $6,428,322.36. This represents a 5.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 143,037 shares of company stock worth $5,370,238. Corporate insiders own 5.72% of the company’s stock.

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.