Ouster (NASDAQ:OUST) Shares Up 2.7% – Still a Buy?

Ouster, Inc. (NASDAQ:OUST) was up 2.7% during mid-day trading on Thursday . The company traded as high as $43.59 and last traded at $41.82. Approximately 3,857,156 shares were traded 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

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

Ouster Trading Up 2.7%

The company has a 50-day moving average price of $35.09 and a two-hundred day moving average price of $26.53. The stock has a market cap of $2.63 billion, a P/E ratio of -43.11 and a beta of 3.24.

Ouster (NASDAQ:OUST) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.28) 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 firm had revenue of $48.58 million for the quarter, compared to analysts’ expectations of $46.15 million. During the same period in the previous year, the firm earned ($0.42) earnings per share. As a group, equities analysts forecast that Ouster, Inc. will post -1.05 earnings per share for the current fiscal year.

Insider Activity

In other Ouster news, CEO Charles Angus Pacala sold 29,797 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $38.82, for a total value of $1,156,719.54. Following the completion of the sale, the chief executive officer owned 1,072,201 shares of the company’s stock, valued at $41,622,842.82. This trade represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Mark Frichtl sold 308,742 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $41.53, for a total value of $12,822,055.26. Following the transaction, the chief technology officer owned 294,924 shares of the company’s stock, valued at $12,248,193.72. This trade represents a 51.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 910,591 shares of company stock valued at $32,578,780 in the last quarter. 5.72% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ouster

A number of institutional investors and hedge funds have recently modified their holdings of OUST. NewEdge Advisors LLC grew its position in Ouster by 2,532.6% in the 2nd quarter. NewEdge Advisors LLC now owns 1,132 shares of the company’s stock valued at $27,000 after acquiring an additional 1,089 shares during the last quarter. Larson Financial Group LLC lifted its position in shares of Ouster by 118.8% during the fourth quarter. Larson Financial Group LLC now owns 1,965 shares of the company’s stock worth $43,000 after purchasing 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 during the last quarter. SHP Wealth Management purchased a new stake in shares of Ouster during the fourth quarter valued at $96,000. Finally, Van ECK Associates Corp boosted its stake 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 valued at $97,000 after purchasing an additional 525 shares during the period. 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.