Ouster (NASDAQ:OUST) Trading Up 15.6% – Here’s Why

Ouster, Inc. (NASDAQ:OUST) shares traded up 15.6% during trading on Tuesday . The company traded as high as $63.79 and last traded at $62.52. 7,432,547 shares changed hands during trading, an increase of 137% from the average session volume of 3,139,451 shares. The stock had previously closed at $54.07.

Wall Street Analysts Forecast Growth

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

Ouster Trading Up 15.6%

The stock has a market capitalization of $3.93 billion, a P/E ratio of -64.45 and a beta of 3.24. The firm’s fifty day moving average is $36.41 and its 200-day moving average is $26.97.

Ouster (NASDAQ:OUST) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.28) earnings per share 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 firm had revenue of $48.58 million for the quarter, compared to the consensus estimate of $46.15 million. During the same period in the prior year, the company posted ($0.42) earnings per share. Equities research analysts expect that Ouster, Inc. will post -1.05 EPS for the current year.

Insider Activity

In other Ouster news, Director Ted L. Tewksbury III sold 1,695 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $47.00, for a total value of $79,665.00. Following the transaction, the director owned 124,999 shares of the company’s stock, valued at approximately $5,874,953. The trade was a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Charles Angus Pacala sold 29,797 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $38.82, for a total value of $1,156,719.54. Following the sale, the chief executive officer owned 1,072,201 shares in the company, valued at $41,622,842.82. The trade was a 2.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 910,591 shares of company stock worth $32,578,780. 5.72% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in OUST. NewEdge Advisors LLC grew its holdings in Ouster by 2,532.6% during the 2nd quarter. NewEdge Advisors LLC now owns 1,132 shares of the company’s stock worth $27,000 after acquiring 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 acquiring an additional 1,067 shares during the last quarter. Gordian Capital Singapore Pte Ltd lifted its position in shares of Ouster by 38.1% during the third quarter. Gordian Capital Singapore Pte Ltd now owns 2,900 shares of the company’s stock worth $78,000 after purchasing an additional 800 shares in the last quarter. Van ECK Associates Corp lifted 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 worth $97,000 after purchasing an additional 525 shares in the last quarter. Finally, Banque Cantonale Vaudoise bought a new stake in shares of Ouster during the third quarter valued at approximately $120,000. 31.45% of the stock is owned by institutional investors.

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.