Ouster (NASDAQ:OUST) Stock Keeps “Buy” Rating at Rosenblatt Securities

Ouster (NASDAQ:OUST)‘s stock had its “buy” rating restated by Rosenblatt Securities in a note issued to investors on Wednesday, Benzinga reports. They presently have a $53.00 price objective on the stock. Rosenblatt Securities‘s price target would suggest a potential upside of 82.88% from the company’s previous close.

A number of other research analysts also recently commented on the stock. Cantor Fitzgerald raised shares of Ouster from a “neutral” rating to an “overweight” rating and set a $45.00 target price on the stock in a research report on Wednesday. Citigroup reaffirmed an “outperform” rating on shares of Ouster in a research report on Tuesday, July 21st. Oppenheimer reaffirmed an “outperform” rating on shares of Ouster in a research report on Wednesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ouster in a research note on Wednesday, August 12th. Finally, Northland Securities set a $60.00 price objective on shares of Ouster and gave the company an “outperform” rating in a report on Tuesday, July 21st. Seven analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.67.

Ouster Trading Up 2.7%

Shares of Ouster stock opened at $28.98 on Wednesday. The firm has a market cap of $2.09 billion, a P/E ratio of -33.70 and a beta of 3.47. Ouster has a 12 month low of $16.40 and a 12 month high of $63.79. The stock’s fifty day moving average price is $35.56 and its 200-day moving average price is $32.43.

Ouster (NASDAQ:OUST) last released its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.12). Ouster had a negative net margin of 26.02% and a negative return on equity of 17.49%. The firm had revenue of $59.33 million during the quarter, compared to the consensus estimate of $56.30 million. Analysts forecast that Ouster will post -1.07 earnings per share for the current year.

Insider Buying and Selling

In other Ouster news, General Counsel Megan Chung sold 11,484 shares of the stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $33.96, for a total transaction of $389,996.64. Following the completion of the sale, the general counsel directly owned 189,291 shares of the company’s stock, valued at approximately $6,428,322.36. This represents a 5.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Darien Spencer sold 12,808 shares of the firm’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $33.96, for a total transaction of $434,959.68. Following the completion of the sale, the chief operating officer owned 286,998 shares in the company, valued at $9,746,452.08. This represents a 4.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 141,651 shares of company stock valued at $5,305,817 over the last three months. Corporate insiders own 5.72% of the company’s stock.

Institutional Investors Weigh In On Ouster

Institutional investors have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership purchased a new position in Ouster in the first quarter worth $8,915,000. Dimensional Fund Advisors LP increased its position in shares of 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 purchasing an additional 32,440 shares in the last quarter. Baird Financial Group Inc. purchased a new stake in shares of Ouster during the 2nd quarter valued at $25,218,000. Bastion Asset Management Inc. purchased a new stake in shares of Ouster during the 1st quarter valued at $5,271,000. Finally, Wellington Management Group LLP acquired a new stake in shares of Ouster in the 2nd quarter worth $15,384,000. 31.45% of the stock is currently owned by institutional investors and hedge funds.

Key Ouster News

Here are the key news stories impacting Ouster this week:

• Positive Sentiment: Analyst upgrade: Cantor Fitzgerald raised Ouster from “neutral” to “overweight,” potentially supporting investor confidence. Cantor Fitzgerald rating information
• Positive Sentiment: Revenue and shipments grew: Q3 revenue was $59.33 million, above the $56.30 million analyst estimate and up about 50% year over year; Ouster also reported more than 27,000 sensor shipments, a record. A report cited gross margin rising to 49%. Ouster Q3 results Revenue and shipment report
• Positive Sentiment: Forward outlook: Ouster expects Q4 revenue of $61 million to $64 million and plans to scale REV8 production toward annual capacity of 100,000 units by the end of 2027. Q4 outlook and REV8 capacity plans
• Negative Sentiment: Loss per share missed one consensus estimate: Ouster reported a Q3 loss of $0.20 per share, compared with an estimate of a $0.08 loss, despite beating revenue expectations. Ouster earnings report
• Negative Sentiment: Recent price weakness: One report noted OUST had fallen 34% in a month, reflecting recent investor pressure and potentially adding volatility. Analysis of Ouster’s recent decline

Ouster Company Profile

Ouster, Inc is a technology company that develops and manufactures digital lidar sensors and related software. Its lidar systems use laser light to detect and measure surrounding objects, supporting applications that require real-time perception, mapping, and automation.

The company’s products are designed for customers in the automotive, industrial automation, robotics, infrastructure, mapping, security, and smart-city markets. Ouster provides lidar sensors for uses such as autonomous and assisted driving, warehouse and industrial operations, traffic monitoring, asset inspection, and other machine-perception applications.