Ouster (NASDAQ:OUST) Hits New 52-Week High – Time to Buy?

Ouster, Inc. (NASDAQ:OUST)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $51.50 and last traded at $48.9460, with a volume of 2091412 shares. The stock had previously closed at $46.57.

Analyst Ratings Changes

OUST has been the topic of a number of recent analyst reports. Cantor Fitzgerald cut shares of Ouster from an “overweight” rating to a “neutral” rating in a report on Thursday, May 7th. Roth Mkm started coverage on shares of Ouster in a research report on Friday, May 29th. They set a “buy” rating and a $75.00 target price for the company. Oppenheimer restated an “outperform” rating and issued a $40.00 target price on shares of Ouster in a research note on Tuesday, March 3rd. Weiss Ratings initiated coverage on shares of Ouster in a report on Friday, May 15th. They issued a “sell (d-)” rating on the stock. Finally, Rosenblatt Securities upped their price target on Ouster from $40.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $48.17.

Ouster Trading Up 6.0%

The company has a market cap of $3.10 billion, a PE ratio of -50.72 and a beta of 3.24. The firm’s 50-day simple moving average is $33.67 and its two-hundred day simple moving average is $26.09.

Ouster (NASDAQ:OUST) last issued its quarterly earnings results 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 company had revenue of $48.58 million for the quarter, compared to analyst estimates of $46.15 million. During the same quarter in the previous year, the company posted ($0.42) EPS. As a group, analysts predict that Ouster, Inc. will post -1.05 EPS for the current year.

Insider Activity at Ouster

In related news, CFO Kenneth P. Gianella sold 54,337 shares of the firm’s stock in a transaction on 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 transaction, the chief financial officer owned 301,014 shares in the company, valued at $11,685,363.48. This trade represents a 15.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Darien Spencer sold 30,000 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $45.00, for a total value of $1,350,000.00. Following the sale, the chief operating officer owned 342,366 shares in the company, valued at approximately $15,406,470. The trade was a 8.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 948,896 shares of company stock valued at $33,336,715 in the last ninety days. Company insiders own 5.72% of the company’s stock.

Hedge Funds Weigh In On Ouster

Institutional investors have recently bought and sold shares of the business. NewEdge Advisors LLC boosted its holdings in shares of 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 raised its holdings 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 Ouster by 38.1% during the third quarter. Gordian Capital Singapore Pte Ltd now owns 2,900 shares of the company’s stock valued at $78,000 after purchasing an additional 800 shares during the period. SHP Wealth Management acquired a new position in Ouster during the fourth quarter valued at $96,000. Finally, Van ECK Associates Corp boosted its holdings in Ouster by 17.1% in 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 last quarter. 31.45% of the stock is owned by hedge funds and other 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.