Ouster (NASDAQ:OUST) Shares Up 9.5% – Here’s What Happened

Ouster, Inc. (NASDAQ:OUST) shares rose 9.5% during mid-day trading on Thursday . The stock traded as high as $48.25 and last traded at $47.53. 4,434,960 shares changed hands during mid-day trading, an increase of 35% from the average daily volume of 3,276,744 shares. The stock had previously closed at $43.41.

Analyst Ratings Changes

OUST has been the topic of a number of research reports. Weiss Ratings initiated coverage on shares of Ouster in a report on Friday, May 15th. They issued a “sell (d-)” rating on the stock. Rosenblatt Securities raised their target price on shares of Ouster from $40.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Cantor Fitzgerald lowered shares of Ouster from an “overweight” rating to a “neutral” rating in a research report on Thursday, May 7th. Finally, Roth Capital began coverage on Ouster in a report on Friday, May 29th. They issued a “buy” rating and a $75.00 price target on the stock. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Ouster currently has a consensus rating of “Hold” and an average price target of $48.17.

Ouster Price Performance

The firm has a market capitalization of $2.99 billion, a PE ratio of -49.00 and a beta of 3.17. The firm has a fifty day moving average price of $39.83 and a 200 day moving average price of $28.35.

Ouster (NASDAQ:OUST) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.16). The company had revenue of $48.58 million during the quarter, compared to analysts’ expectations 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 posted ($0.42) EPS. On average, sell-side analysts expect that Ouster, Inc. will post -1.05 EPS for the current year.

Insider Activity

In other Ouster news, COO Darien Spencer sold 30,000 shares of the business’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 sale, the chief operating officer directly owned 342,366 shares of the company’s stock, valued at $15,406,470. The trade was a 8.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Charles Angus Pacala sold 29,797 shares of Ouster stock in a transaction on Friday, June 12th. The shares were sold at an average price of $38.82, for a total value of $1,156,719.54. Following the transaction, the chief executive officer owned 1,072,201 shares in the company, valued at $41,622,842.82. This represents a 2.70% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 910,591 shares of company stock worth $32,578,780. Company insiders own 5.72% of the company’s stock.

Institutional Trading of Ouster

A number of hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC increased its stake in Ouster by 43.2% in the 4th quarter. SG Americas Securities LLC now owns 276,578 shares of the company’s stock valued at $5,985,000 after buying an additional 83,448 shares during the period. JPMorgan Chase & Co. lifted its position in Ouster by 514.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 185,198 shares of the company’s stock worth $5,010,000 after buying an additional 155,063 shares in the last quarter. Algert Global LLC boosted its stake in shares of Ouster by 192.6% during the 3rd quarter. Algert Global LLC now owns 500,902 shares of the company’s stock valued at $13,549,000 after buying an additional 329,735 shares during the period. UBS Group AG boosted its stake in shares of Ouster by 67.7% during the 4th quarter. UBS Group AG now owns 301,469 shares of the company’s stock valued at $6,524,000 after buying an additional 121,708 shares during the period. Finally, Patten Group Inc. purchased a new position in shares of Ouster during the 1st quarter valued at $212,000. 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.