Ouster (NASDAQ:OUST) Trading Down 1.5% – What’s Next?

Ouster, Inc. (NASDAQ:OUST)’s share price was down 1.5% during trading on Wednesday . The company traded as low as $40.60 and last traded at $43.41. Approximately 5,030,190 shares traded hands during trading, an increase of 54% from the average session volume of 3,270,247 shares. The stock had previously closed at $44.06.

Wall Street Analyst Weigh In

OUST has been the subject of a number of recent analyst reports. Roth Capital started coverage on Ouster in a research note on Friday, May 29th. They issued a “buy” rating and a $75.00 price objective for the company. Weiss Ratings assumed coverage on Ouster in a research note on Friday, May 15th. They set a “sell (d-)” rating on the stock. Cantor Fitzgerald downgraded shares of Ouster from an “overweight” rating to a “neutral” rating in a report on Thursday, May 7th. Finally, Rosenblatt Securities increased their price target on shares of Ouster from $40.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $48.17.

Ouster Trading Down 8.9%

The firm has a fifty day moving average of $40.26 and a two-hundred day moving average of $28.53. The company has a market cap of $2.72 billion, a PE ratio of -44.62 and a beta of 3.17.

Ouster (NASDAQ:OUST) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.16). The business had revenue of $48.58 million for the quarter, compared to analysts’ expectations of $46.15 million. Ouster had a negative net margin of 30.12% and a negative return on equity of 21.49%. During the same period last year, the company earned ($0.42) earnings per share. Sell-side analysts expect that Ouster, Inc. will post -1.05 EPS for the current fiscal year.

Insider Buying and Selling at Ouster

In other news, COO Darien Spencer sold 30,000 shares of Ouster stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $45.00, for a total value of $1,350,000.00. Following the completion of the transaction, the chief operating officer directly owned 342,366 shares in the company, valued at approximately $15,406,470. The trade was a 8.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles Angus Pacala sold 29,797 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $38.82, for a total value of $1,156,719.54. Following the sale, the chief executive officer directly owned 1,072,201 shares in the company, valued at $41,622,842.82. This trade represents a 2.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 910,591 shares of company stock valued at $32,578,780 in the last quarter. Corporate insiders own 5.72% of the company’s stock.

Institutional Investors Weigh In On Ouster

A number of institutional investors and hedge funds have recently modified their holdings of the company. NewEdge Advisors LLC increased its holdings in Ouster by 2,532.6% during the 2nd quarter. NewEdge Advisors LLC now owns 1,132 shares of the company’s stock worth $27,000 after acquiring an additional 1,089 shares during the period. Larson Financial Group LLC boosted its holdings in Ouster by 118.8% in the 4th quarter. Larson Financial Group LLC now owns 1,965 shares of the company’s stock valued at $43,000 after purchasing an additional 1,067 shares during the period. SHP Wealth Management bought a new position in Ouster in the 4th quarter valued at $96,000. Van ECK Associates Corp grew its position in shares of Ouster by 17.1% during the 3rd quarter. Van ECK Associates Corp now owns 3,590 shares of the company’s stock valued at $97,000 after purchasing an additional 525 shares in the last quarter. Finally, Global Retirement Partners LLC grew its position in shares of Ouster by 139.9% during the 4th quarter. Global Retirement Partners LLC now owns 4,622 shares of the company’s stock valued at $100,000 after purchasing an additional 2,695 shares in the last quarter. 31.45% of the stock is owned by hedge funds and other institutional investors.

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.