Penn Capital Management Company LLC Raises Position in Ouster, Inc. $OUST

Penn Capital Management Company LLC increased its holdings in Ouster, Inc. (NASDAQ:OUST) by 24.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 775,297 shares of the company’s stock after purchasing an additional 150,337 shares during the quarter. Ouster accounts for 1.3% of Penn Capital Management Company LLC’s investment portfolio, making the stock its 21st biggest position. Penn Capital Management Company LLC’s holdings in Ouster were worth $16,817,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. NewEdge Advisors LLC raised its position in Ouster by 2,532.6% in the 2nd quarter. NewEdge Advisors LLC now owns 1,132 shares of the company’s stock worth $27,000 after purchasing an additional 1,089 shares during the period. Larson Financial Group LLC raised its position in Ouster by 118.8% in the 4th 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 period. Gordian Capital Singapore Pte Ltd raised its position in Ouster by 38.1% in the 3rd 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 raised its position in Ouster by 17.1% in the 3rd 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 in the 3rd quarter worth $120,000. Hedge funds and other institutional investors own 31.45% of the company’s stock.

Wall Street Analyst Weigh In

OUST has been the topic of a number of analyst reports. Weiss Ratings initiated coverage on shares of Ouster in a research report on Friday, May 15th. They issued a “sell (d-)” rating on the stock. Cantor Fitzgerald cut shares of Ouster from an “overweight” rating to a “neutral” rating in a research report on Thursday, May 7th. Oppenheimer restated an “outperform” rating and issued a $40.00 price objective on shares of Ouster in a research report on Tuesday, March 3rd. Finally, Rosenblatt Securities restated a “buy” rating and issued a $40.00 price objective on shares of Ouster in a research report on Tuesday, March 3rd. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $40.20.

Ouster Trading Up 15.3%

OUST stock opened at $42.70 on Wednesday. The firm’s 50-day moving average price is $25.30 and its two-hundred day moving average price is $23.50. Ouster, Inc. has a 12-month low of $10.36 and a 12-month high of $45.42. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of -44.02 and a beta of 3.06.

Insider Transactions at Ouster

In other Ouster news, CTO Mark Frichtl sold 136,434 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $32.56, for a total value of $4,442,291.04. Following the transaction, the chief technology officer owned 628,638 shares in the company, valued at approximately $20,468,453.28. The trade was a 17.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles Angus Pacala sold 24,657 shares of the business’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $23.43, for a total transaction of $577,713.51. Following the completion of the transaction, the chief executive officer owned 960,660 shares in the company, valued at $22,508,263.80. The trade was a 2.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 503,475 shares of company stock worth $14,196,335 in the last 90 days. Corporate insiders own 5.72% of the company’s stock.

Ouster 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.