Ouster (NASDAQ:OUST) Stock Price Up 8.3% – Time to Buy?

Shares of Ouster, Inc. (NASDAQ:OUST) shot up 8.3% on Tuesday . The company traded as high as $37.91 and last traded at $37.65. 666,409 shares were traded during trading, a decline of 80% from the average session volume of 3,291,259 shares. The stock had previously closed at $34.77.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Roth Capital assumed coverage on Ouster in a research report on Friday, May 29th. They issued a “buy” rating and a $75.00 target price for the company. Rosenblatt Securities lifted their price target on Ouster from $40.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Oppenheimer reaffirmed an “outperform” rating and issued a $57.00 price target (up from $42.00) on shares of Ouster in a research note on Wednesday, July 15th. Cantor Fitzgerald downgraded Ouster from an “overweight” rating to a “neutral” rating in a report on Thursday, May 7th. Finally, Weiss Ratings initiated coverage on Ouster in a research report on Friday, May 15th. They set a “sell (d-)” rating for the company. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Ouster has a consensus rating of “Moderate Buy” and a consensus target price of $54.67.

Ouster Stock Down 4.5%

The stock’s fifty day simple moving average is $42.29 and its two-hundred day simple moving average is $29.60. The firm has a market cap of $2.44 billion, a PE ratio of -40.06 and a beta of 3.17.

Ouster (NASDAQ:OUST) last released 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 business had revenue of $48.58 million for the quarter, compared to analysts’ expectations of $46.15 million. During the same quarter in the previous year, the business posted ($0.42) earnings per share. On average, equities research analysts anticipate that Ouster, Inc. will post -1.03 earnings per share for the current fiscal year.

Insider Activity at Ouster

In other news, CRO Cyrille Jacquemet sold 10,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $35.00, for a total transaction of $350,000.00. Following the completion of the transaction, the executive directly owned 132,590 shares in the company, valued at $4,640,650. This trade represents a 7.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Mark Frichtl sold 308,742 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $41.53, for a total value of $12,822,055.26. Following the transaction, the chief technology officer owned 294,924 shares of the company’s stock, valued at $12,248,193.72. The trade was a 51.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 749,354 shares of company stock worth $28,542,907 over the last quarter. 5.72% of the stock is currently owned by company insiders.

Institutional Trading of Ouster

Several institutional investors have recently bought and sold shares of OUST. AQR Capital Management LLC raised its holdings in Ouster by 610.1% in the first quarter. AQR Capital Management LLC now owns 296,311 shares of the company’s stock worth $2,661,000 after buying an additional 254,580 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Ouster by 7.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,344 shares of the company’s stock valued at $255,000 after purchasing an additional 2,037 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Ouster by 138.2% during the second quarter. Legal & General Group Plc now owns 9,990 shares of the company’s stock valued at $242,000 after purchasing an additional 5,796 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Ouster by 22.0% during the second quarter. American Century Companies Inc. now owns 63,298 shares of the company’s stock valued at $1,535,000 after purchasing an additional 11,416 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Ouster by 1,521.8% during the second quarter. Invesco Ltd. now owns 571,662 shares of the company’s stock valued at $13,863,000 after purchasing an additional 536,413 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.