Ouster (NASDAQ:OUST) Trading Up 10.3% – Still a Buy?

Ouster, Inc. (NASDAQ:OUST)’s share price rose 10.3% during trading on Monday . The company traded as high as $54.92 and last traded at $54.9760. Approximately 2,934,887 shares were traded during mid-day trading, a decline of 8% from the average session volume of 3,199,996 shares. The stock had previously closed at $49.84.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Rosenblatt Securities increased their price target on Ouster from $40.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Weiss Ratings assumed coverage on shares of Ouster in a research report on Friday, May 15th. They issued a “sell (d-)” rating for the company. Cantor Fitzgerald lowered shares of Ouster from an “overweight” rating to a “neutral” rating in a research note on Thursday, May 7th. Finally, Roth Mkm assumed coverage on shares of Ouster in a research note on Friday, May 29th. They issued a “buy” rating and a $75.00 price objective on the stock. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ouster has an average rating of “Hold” and an average price target of $48.17.

Ouster Stock Up 5.1%

The firm has a 50 day moving average price of $38.72 and a 200 day moving average price of $27.84. The stock has a market capitalization of $3.29 billion, a PE ratio of -54.52 and a beta of 3.17.

Ouster (NASDAQ:OUST) last announced its earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share (EPS) 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 company had revenue of $48.58 million for the quarter, compared to analysts’ expectations of $46.15 million. During the same period in the previous year, the firm earned ($0.42) EPS. On average, equities analysts forecast that Ouster, Inc. will post -1.05 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Darien Spencer sold 30,000 shares of the firm’s stock in a transaction dated 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 trade represents a 8.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 transaction of $2,109,362.34. Following the transaction, the chief financial officer owned 301,014 shares in the company, valued at approximately $11,685,363.48. This trade represents a 15.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 910,591 shares of company stock valued at $32,578,780 over the last quarter. 5.72% of the stock is owned by insiders.

Hedge Funds Weigh In On Ouster

Several hedge funds have recently modified their holdings of the company. Geode Capital Management LLC boosted its stake in shares of Ouster by 9.1% in the 4th quarter. Geode Capital Management LLC now owns 1,421,130 shares of the company’s stock worth $30,758,000 after buying an additional 118,132 shares during the last quarter. Penn Capital Management Company LLC increased its position 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 valued at $16,817,000 after acquiring an additional 150,337 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in Ouster by 130.7% during the fourth quarter. Handelsbanken Fonder AB now owns 715,646 shares of the company’s stock worth $15,479,000 after acquiring an additional 405,441 shares during the period. Invesco Ltd. lifted its holdings in Ouster by 1,521.8% during the second quarter. Invesco Ltd. now owns 571,662 shares of the company’s stock worth $13,863,000 after acquiring an additional 536,413 shares during the period. Finally, Algert Global LLC boosted its position in Ouster by 192.6% in the third quarter. Algert Global LLC now owns 500,902 shares of the company’s stock worth $13,549,000 after purchasing an additional 329,735 shares during the last quarter. 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.