Ouster (NASDAQ:OUST) Trading 14.4% Higher – Should You Buy?

Shares of Ouster, Inc. (NASDAQ:OUST) shot up 14.4% on Thursday . The stock traded as high as $46.83 and last traded at $46.57. 8,255,157 shares traded hands during trading, an increase of 179% from the average session volume of 2,962,231 shares. The stock had previously closed at $40.72.

Wall Street Analysts Forecast Growth

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

Ouster Stock Performance

The stock has a market capitalization of $2.93 billion, a PE ratio of -48.04 and a beta of 3.24. The business’s 50-day moving average is $32.60 and its two-hundred day moving average is $25.75.

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). Ouster had a negative net margin of 30.12% and a negative return on equity of 21.49%. The firm had revenue of $48.58 million during the quarter, compared to analysts’ expectations of $46.15 million. During the same period in the previous year, the firm earned ($0.42) EPS. Equities analysts forecast that Ouster, Inc. will post -1.05 EPS for the current year.

Insider Buying and Selling

In other news, COO Darien Spencer sold 30,000 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $45.00, for a total transaction of $1,350,000.00. Following the transaction, the chief operating officer directly owned 342,366 shares of the company’s stock, valued at $15,406,470. This represents a 8.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kenneth P. Gianella sold 54,337 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $38.82, for a total transaction of $2,109,362.34. Following the completion of the sale, the chief financial officer owned 301,014 shares of the company’s stock, valued at $11,685,363.48. This trade represents a 15.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 948,896 shares of company stock valued at $33,336,715 in the last quarter. Corporate insiders own 5.72% of the company’s stock.

Institutional Investors Weigh In On Ouster

Institutional investors have recently modified their holdings of the company. Van ECK Associates Corp raised its holdings in 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 last quarter. Main Management ETF Advisors LLC grew its holdings in Ouster by 1.0% in the fourth quarter. Main Management ETF Advisors LLC now owns 54,810 shares of the company’s stock valued at $1,186,000 after purchasing an additional 560 shares during the last quarter. Corient Private Wealth LLC grew its holdings in Ouster by 5.5% in the second quarter. Corient Private Wealth LLC now owns 11,554 shares of the company’s stock valued at $280,000 after purchasing an additional 599 shares during the last quarter. Prosperity Wealth Management Inc. increased its position in shares of Ouster by 5.5% in the third quarter. Prosperity Wealth Management Inc. now owns 13,000 shares of the company’s stock valued at $352,000 after buying an additional 675 shares in the last quarter. Finally, Creative Planning raised its stake in shares of Ouster by 1.6% during the 3rd quarter. Creative Planning now owns 43,681 shares of the company’s stock worth $1,182,000 after buying an additional 677 shares during the last quarter. Hedge funds and other institutional investors own 31.45% of the company’s stock.

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.