Ouster, Inc. (NASDAQ:OUST) Receives Average Rating of “Moderate Buy” from Brokerages

Ouster, Inc. (NASDAQ:OUST) has earned an average rating of “Moderate Buy” from the nine research firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $54.67.

OUST has been the topic of a number of research analyst reports. Oppenheimer restated an “outperform” rating and issued a $57.00 price target (up from $42.00) on shares of Ouster in a research note on Wednesday, July 15th. Citigroup reaffirmed an “outperform” rating on shares of Ouster in a research report on Tuesday, July 21st. Rosenblatt Securities reiterated a “buy” rating and issued a $53.00 price objective on shares of Ouster in a report on Thursday, August 27th. Northland Securities set a $60.00 target price on shares of Ouster and gave the stock an “outperform” rating in a research note on Tuesday, July 21st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Ouster in a research note on Wednesday, August 12th.

Ouster Stock Up 5.7%

Shares of NASDAQ OUST opened at $43.72 on Friday. The business’s 50 day moving average price is $38.55 and its two-hundred day moving average price is $34.91. The company has a market cap of $3.15 billion, a PE ratio of -50.84 and a beta of 3.25. Ouster has a twelve month low of $16.40 and a twelve month high of $63.79.

Ouster (NASDAQ:OUST) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.14). Ouster had a negative net margin of 26.02% and a negative return on equity of 17.49%. The business had revenue of $54.63 million during the quarter, compared to analyst estimates of $51.47 million. As a group, research analysts anticipate that Ouster will post -1.07 EPS for the current fiscal year.

Insider Transactions at Ouster

In other Ouster news, CTO Mark Frichtl sold 18,778 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $33.96, for a total transaction of $637,700.88. Following the completion of the sale, the chief technology officer directly owned 318,987 shares in the company, valued at $10,832,798.52. This trade represents a 5.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Megan Chung sold 11,484 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $33.96, for a total value of $389,996.64. Following the sale, the general counsel owned 189,291 shares of the company’s stock, valued at approximately $6,428,322.36. This represents a 5.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 173,037 shares of company stock worth $6,720,238. 5.72% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Penn Capital Management Company LLC lifted its holdings in shares of Ouster by 24.1% during the fourth quarter. Penn Capital Management Company LLC now owns 775,297 shares of the company’s stock worth $16,817,000 after buying an additional 150,337 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Ouster during the first quarter worth about $8,915,000. Dimensional Fund Advisors LP increased its position in Ouster by 7.2% during the first quarter. Dimensional Fund Advisors LP now owns 483,871 shares of the company’s stock worth $8,889,000 after acquiring an additional 32,440 shares during the period. Baird Financial Group Inc. acquired a new stake in Ouster in the 2nd quarter worth about $25,218,000. Finally, Bastion Asset Management Inc. acquired a new stake in Ouster in the 1st quarter worth about $5,271,000. Institutional investors own 31.45% of the company’s stock.

Ouster Company Profile

Ouster, Inc develops lidar sensors and software used to help machines perceive and understand their surroundings. Its digital lidar technology measures distance and generates three-dimensional data for applications including industrial automation, robotics, intelligent transportation, infrastructure monitoring and automotive systems.

The company offers a portfolio of lidar sensors designed for different range, resolution and deployment requirements, along with software and perception tools that help customers interpret sensor data.