Ouster (NASDAQ:OUST) Trading 28.7% Higher – Time to Buy?

Ouster, Inc. (NASDAQ:OUST)’s share price was up 28.7% on Monday . The stock traded as high as $54.49 and last traded at $54.07. 10,001,625 shares changed hands during trading, an increase of 223% from the average daily volume of 3,099,008 shares. The stock had previously closed at $42.02.

Analyst Ratings Changes

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

Ouster Stock Up 28.7%

The company has a market capitalization of $3.40 billion, a price-to-earnings ratio of -55.74 and a beta of 3.24. The stock has a 50 day simple moving average of $35.81 and a 200 day simple moving average of $26.77.

Ouster (NASDAQ:OUST) last issued its earnings results 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). The company had revenue of $48.58 million during the quarter, compared to analyst estimates of $46.15 million. Ouster had a negative return on equity of 21.49% and a negative net margin of 30.12%.During the same period in the prior year, the business earned ($0.42) earnings per share. As a group, analysts forecast that Ouster, Inc. will post -1.05 EPS for the current year.

Insider Activity at Ouster

In other Ouster news, CTO Mark Frichtl sold 308,742 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief technology officer directly owned 294,924 shares of the company’s stock, valued at approximately $12,248,193.72. This represents a 51.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ted L. Tewksbury III sold 1,695 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $47.00, for a total transaction of $79,665.00. Following the sale, the director owned 124,999 shares of the company’s stock, valued at $5,874,953. The trade was a 1.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 910,591 shares of company stock worth $32,578,780 in the last three months. Insiders own 5.72% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. NewEdge Advisors LLC increased 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 purchasing an additional 1,089 shares during the period. Larson Financial Group LLC lifted its position 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 purchasing an additional 1,067 shares in the last quarter. Gordian Capital Singapore Pte Ltd boosted its holdings 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 period. Van ECK Associates Corp boosted its holdings 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 during the period. Finally, Banque Cantonale Vaudoise purchased a new position in Ouster during the third quarter valued at approximately $120,000. 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.