Ted Tewksbury III Sells 1,695 Shares of Ouster (NASDAQ:OUST) Stock

Ouster, Inc. (NASDAQ:OUST) Director Ted Tewksbury III sold 1,695 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $47.00, for a total transaction of $79,665.00. Following the transaction, the director owned 124,999 shares in the company, valued at $5,874,953. This represents a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Ouster Stock Down 5.3%

OUST opened at $45.16 on Wednesday. Ouster, Inc. has a 12-month low of $16.40 and a 12-month high of $51.50. The business has a 50 day moving average of $34.71 and a 200-day moving average of $26.43. The stock has a market cap of $2.84 billion, a price-to-earnings ratio of -46.56 and a beta of 3.24.

Ouster (NASDAQ:OUST) last posted its earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.16). Ouster had a negative return on equity of 21.49% and a negative net margin of 30.12%.The business had revenue of $48.58 million for the quarter, compared to analyst estimates of $46.15 million. During the same period in the previous year, the firm posted ($0.42) earnings per share. As a group, analysts expect that Ouster, Inc. will post -1.05 earnings per share for the current year.

Hedge Funds Weigh In On Ouster

Institutional investors and hedge funds have recently modified their holdings of the business. Hillsdale Investment Management Inc. acquired a new position in shares of Ouster during the 3rd quarter worth approximately $3,038,000. Handelsbanken Fonder AB raised its position in shares of Ouster by 1,419.5% in the third quarter. Handelsbanken Fonder AB now owns 310,205 shares of the company’s stock valued at $8,385,000 after buying an additional 289,790 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Ouster by 43.2% in the fourth quarter. SG Americas Securities LLC now owns 276,578 shares of the company’s stock valued at $5,985,000 after buying an additional 83,448 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Ouster by 514.6% in the third quarter. JPMorgan Chase & Co. now owns 185,198 shares of the company’s stock valued at $5,010,000 after buying an additional 155,063 shares during the period. Finally, Algert Global LLC grew its position in Ouster by 192.6% during the third quarter. Algert Global LLC now owns 500,902 shares of the company’s stock worth $13,549,000 after buying an additional 329,735 shares in the last quarter. 31.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.