Ouster (NASDAQ:OUST) Director Sells $170,000.00 in Stock

Ouster, Inc. (NASDAQ:OUST) Director Stephen Skaggs sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $34.00, for a total value of $170,000.00. Following the transaction, the director directly owned 56,415 shares in the company, valued at approximately $1,918,110. This represents a 8.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Ouster Stock Performance

Shares of NASDAQ OUST opened at $36.60 on Friday. Ouster, Inc. has a fifty-two week low of $16.40 and a fifty-two week high of $63.79. The company has a market cap of $2.64 billion, a price-to-earnings ratio of -53.04 and a beta of 3.47. The business’s 50 day moving average price is $35.65 and its 200-day moving average price is $32.79.

Ouster (NASDAQ:OUST) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.12). The business had revenue of $59.33 million for the quarter, compared to analysts’ expectations of $56.30 million. Ouster had a negative net margin of 20.36% and a negative return on equity of 11.70%. Sell-side analysts predict that Ouster, Inc. will post -0.97 earnings per share for the current year.

Analyst Ratings Changes

OUST has been the topic of a number of research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Ouster in a report on Tuesday. Oppenheimer reiterated an “outperform” rating on shares of Ouster in a report on Wednesday, November 4th. Cantor Fitzgerald raised shares of Ouster from a “neutral” rating to an “overweight” rating and set a $45.00 price objective for the company in a research report on Wednesday, November 4th. Citigroup reissued an “outperform” rating on shares of Ouster in a research report on Tuesday, July 21st. Finally, Northland Securities set a $60.00 target price on shares of Ouster and gave the stock an “outperform” rating in a research note on Tuesday, July 21st. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $58.00.

Recent Ouster Headlines

Here are a few of the latest headlines about OUST:

• Positive Sentiment: Indra is expanding Ouster’s Rev7 lidar use across tolling projects covering 3,300 lanes. The deployment highlights a substantial infrastructure application for Ouster’s sensors and could support future demand. Indra scales Ouster Rev7 LiDAR across tolling projects
• Positive Sentiment: A recent report noted Ouster shares gained 17% in the week ended November 6 as revenue rose 50%, reinforcing the company’s growth story. Ouster Stock Surged 17% in the Week Ended November 6 as Revenue Jumped 50%
• Negative Sentiment: Reports of Nvidia CEO Jensen Huang’s sudden ouster sparked a sharp selloff in Nvidia and declines across U.S. stocks and technology shares. Ouster was not identified as directly involved, but broad risk-off trading could pressure the high-beta lidar stock. US stocks fall as Huang ouster sends shockwaves through tech

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in shares of Ouster by 31.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,441 shares of the company’s stock worth $58,000 after buying an additional 341 shares during the period. Allworth Financial LP grew its position in shares of Ouster by 40.3% during the 2nd quarter. Allworth Financial LP now owns 1,190 shares of the company’s stock worth $74,000 after buying an additional 342 shares in the last quarter. MCF Advisors LLC grew its position in shares of Ouster by 34.4% during the 2nd quarter. MCF Advisors LLC now owns 1,344 shares of the company’s stock worth $84,000 after buying an additional 344 shares in the last quarter. Parallel Advisors LLC grew its position in shares of Ouster by 66.2% during the 3rd quarter. Parallel Advisors LLC now owns 866 shares of the company’s stock worth $35,000 after buying an additional 345 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Ouster by 2.4% during the second quarter. Arizona State Retirement System now owns 16,030 shares of the company’s stock valued at $1,002,000 after buying an additional 373 shares during the period. 31.45% of the stock is currently owned by hedge funds and other institutional investors.

Ouster Company Profile

Ouster, Inc. develops lidar sensors and software that help machines and infrastructure detect and interpret their surroundings. Its digital lidar products use laser-based sensing to create 3D representations of nearby objects and environments. The company serves customers in areas including industrial automation, robotics, smart infrastructure and automotive applications. Its offerings include lidar sensors and perception software designed to support tasks such as object detection, mapping and navigation.