Ouster’s (OUST) Buy Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reiterated their buy rating on shares of Ouster (NASDAQ:OUST) in a research note released on Thursday,Benzinga reports. They currently have a $53.00 price objective on the stock.

Several other research firms have also recently weighed in on OUST. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ouster in a research report on Wednesday, August 12th. Oppenheimer reissued an “outperform” rating and issued a $57.00 target price (up from $42.00) on shares of Ouster in a report on Wednesday, July 15th. Cantor Fitzgerald cut shares of Ouster from an “overweight” rating to a “neutral” rating in a research report on Thursday, May 7th. Citigroup reaffirmed an “outperform” rating on shares of Ouster in a report on Tuesday, July 21st. Finally, Roth Capital started coverage on shares of Ouster in a research report on Friday, May 29th. They set a “buy” rating and a $75.00 price target on the stock. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Ouster presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.67.

Ouster Price Performance

Shares of NASDAQ:OUST opened at $34.62 on Thursday. The business’s 50 day simple moving average is $42.26 and its 200 day simple moving average is $32.55. Ouster has a 1 year low of $16.40 and a 1 year high of $63.79. The company has a market capitalization of $2.50 billion, a P/E ratio of -40.26 and a beta of 3.24.

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

Insider Transactions at Ouster

In other Ouster news, Director Ted L. Tewksbury III sold 1,695 shares of Ouster stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $47.00, for a total value of $79,665.00. Following the transaction, the director owned 124,999 shares in the company, valued at $5,874,953. The trade was a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kenneth P. Gianella sold 54,337 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer directly owned 301,014 shares of the company’s stock, valued at approximately $11,685,363.48. The trade was a 15.29% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 160,829 shares of company stock valued at $6,736,649. Company insiders own 5.72% of the company’s stock.

Institutional Trading of Ouster

A number of hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System increased its holdings in Ouster by 6,016.8% in the 2nd quarter. California State Teachers Retirement System now owns 4,856,804 shares of the company’s stock worth $303,647,000 after purchasing an additional 4,777,403 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Ouster by 9.1% during the fourth quarter. Geode Capital Management LLC now owns 1,421,130 shares of the company’s stock worth $30,758,000 after purchasing an additional 118,132 shares during the last quarter. Penn Capital Management Company LLC grew 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 purchasing an additional 150,337 shares during the last quarter. Handelsbanken Fonder AB increased its stake in shares of Ouster by 130.7% in the fourth quarter. Handelsbanken Fonder AB now owns 715,646 shares of the company’s stock valued at $15,479,000 after buying an additional 405,441 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Ouster by 1,521.8% in the second quarter. Invesco Ltd. now owns 571,662 shares of the company’s stock valued at $13,863,000 after buying an additional 536,413 shares during the period. Institutional investors and hedge funds own 31.45% of the company’s stock.

About Ouster

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.