Ouster (NASDAQ:OUST) Sees Large Volume Increase – Still a Buy?

Ouster, Inc. (NASDAQ:OUST) shares saw unusually-high trading volume on Monday . 2,442,011 shares changed hands during mid-day trading, a decline of 19% from the previous session’s volume of 3,025,205 shares.The stock last traded at $48.2890 and had previously closed at $42.02.

Analyst Upgrades and Downgrades

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

Ouster Price Performance

The firm has a market cap of $3.93 billion, a PE ratio of -64.45 and a beta of 3.24. The business has a fifty day moving average price of $37.17 and a two-hundred day moving average price of $27.23.

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 the consensus estimate 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 during the quarter, compared to analysts’ expectations of $46.15 million. During the same period in the prior year, the company posted ($0.42) earnings per share. As a group, sell-side analysts forecast that Ouster, Inc. will post -1.05 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Kenneth P. Gianella sold 54,337 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $38.82, for a total transaction of $2,109,362.34. Following the transaction, the chief financial officer directly owned 301,014 shares of the company’s stock, valued at approximately $11,685,363.48. The trade was a 15.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Charles Angus Pacala sold 29,797 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $38.82, for a total transaction of $1,156,719.54. Following the completion of the transaction, the chief executive officer owned 1,072,201 shares in the company, valued at approximately $41,622,842.82. This represents a 2.70% 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 ninety days. Insiders own 5.72% of the company’s stock.

Hedge Funds Weigh In On Ouster

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Ouster by 11.3% during 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. Geode Capital Management LLC grew its stake in Ouster by 9.1% in the fourth quarter. Geode Capital Management LLC now owns 1,421,130 shares of the company’s stock valued at $30,758,000 after purchasing an additional 118,132 shares in the last quarter. Penn Capital Management Company LLC increased its position in Ouster by 24.1% in the 4th quarter. Penn Capital Management Company LLC now owns 775,297 shares of the company’s stock worth $16,817,000 after purchasing an additional 150,337 shares during the last quarter. Handelsbanken Fonder AB increased its position in Ouster by 130.7% in the 4th quarter. Handelsbanken Fonder AB now owns 715,646 shares of the company’s stock worth $15,479,000 after purchasing an additional 405,441 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of Ouster by 1,521.8% during the 2nd quarter. Invesco Ltd. now owns 571,662 shares of the company’s stock worth $13,863,000 after purchasing an additional 536,413 shares in the last quarter. 31.45% of the stock is owned by institutional investors and hedge funds.

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.