Ouster (NASDAQ:OUST) Trading 2.7% Higher – What’s Next?

Ouster, Inc. (NASDAQ:OUST) rose 2.7% on Thursday . The company traded as high as $43.59 and last traded at $41.82. 3,857,156 shares traded hands during mid-day trading, an increase of 27% from the average session volume of 3,027,629 shares. The stock had previously closed at $40.71.

Analysts Set New Price Targets

Several research firms have recently commented on OUST. Roth Mkm initiated coverage on shares of Ouster in a research note on Friday, May 29th. They set a “buy” rating and a $75.00 price target on the stock. Rosenblatt Securities boosted their price objective on shares of Ouster from $40.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Weiss Ratings assumed coverage on Ouster in a research report on Friday, May 15th. They issued a “sell (d-)” rating on the stock. Cantor Fitzgerald cut Ouster from an “overweight” rating to a “neutral” rating in a research note on Thursday, May 7th. Finally, Oppenheimer restated an “outperform” rating and set a $40.00 target price on shares of Ouster in a research report on Tuesday, March 3rd. Four investment 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $48.17.

Ouster Stock Performance

The company has a market cap of $2.64 billion, a price-to-earnings ratio of -43.32 and a beta of 3.24. The firm’s 50-day moving average price is $35.81 and its 200 day moving average price is $26.76.

Ouster (NASDAQ:OUST) last announced its quarterly earnings data 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). Ouster had a negative net margin of 30.12% and a negative return on equity of 21.49%. The business had revenue of $48.58 million during the quarter, compared to the consensus estimate of $46.15 million. During the same period in the previous year, the business posted ($0.42) earnings per share. As a group, equities research analysts predict that Ouster, Inc. will post -1.05 EPS for the current fiscal year.

Insider Buying and Selling at Ouster

In related news, CFO Kenneth P. Gianella sold 54,337 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $38.82, for a total value of $2,109,362.34. Following the completion of the sale, the chief financial officer owned 301,014 shares in the company, valued at approximately $11,685,363.48. This represents a 15.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CRO Cyrille Jacquemet sold 9,433 shares of the firm’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 transaction, the executive owned 123,158 shares in the company, valued at approximately $4,926,320. This trade represents a 7.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 910,591 shares of company stock valued at $32,578,780 over the last quarter. 5.72% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC increased its position in shares of Ouster by 43.2% in the 4th 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. Handelsbanken Fonder AB lifted its holdings in Ouster by 1,419.5% during the third quarter. Handelsbanken Fonder AB now owns 310,205 shares of the company’s stock worth $8,385,000 after acquiring an additional 289,790 shares in the last quarter. JPMorgan Chase & Co. grew its stake in 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 acquiring an additional 155,063 shares during the period. Algert Global LLC increased its holdings in shares of Ouster by 192.6% in the third quarter. Algert Global LLC now owns 500,902 shares of the company’s stock worth $13,549,000 after acquiring an additional 329,735 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Ouster by 11.3% in the third quarter. Vanguard Group Inc. now owns 4,720,264 shares of the company’s stock worth $127,683,000 after acquiring an additional 478,372 shares in the last quarter. Institutional investors and hedge funds own 31.45% of the company’s stock.

Ouster Company Profile

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.