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

Ouster, Inc. (NASDAQ:OUST) shares gapped up before the market opened on Thursday . The stock had previously closed at $35.87, but opened at $37.64. Ouster shares last traded at $36.4890, with a volume of 501,953 shares traded.

Wall Street Analyst Weigh In

OUST has been the subject of a number of recent research reports. Roth Capital assumed coverage on shares of Ouster in a research report on Friday, May 29th. They issued a “buy” rating and a $75.00 target price for the company. Northland Securities set a $60.00 price target on shares of Ouster and gave the stock an “outperform” rating in a research report on Tuesday, July 21st. Citigroup reiterated an “outperform” rating on shares of Ouster in a research note on Tuesday, July 21st. Cantor Fitzgerald downgraded shares of Ouster from an “overweight” rating to a “neutral” rating in a report on Thursday, May 7th. Finally, Rosenblatt Securities restated a “buy” rating and set a $53.00 target price on shares of Ouster in a research report on Friday, August 7th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Ouster presently has an average rating of “Moderate Buy” and a consensus target price of $54.67.

Ouster Price Performance

The company has a market cap of $2.62 billion, a P/E ratio of -42.18 and a beta of 3.24. The stock has a 50-day moving average of $42.70 and a 200 day moving average of $32.42.

Ouster (NASDAQ:OUST) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.14). Ouster had a negative net margin of 26.02% and a negative return on equity of 17.49%. The company had revenue of $54.63 million during the quarter, compared to analyst estimates of $51.47 million. Sell-side analysts predict that Ouster, Inc. will post -1.07 EPS for the current year.

Insider Buying and Selling

In related news, Director Stephen A. Skaggs sold 3,614 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $45.18, for a total transaction of $163,280.52. Following the sale, the director owned 61,415 shares in the company, valued at approximately $2,774,729.70. This trade represents a 5.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Charles Angus Pacala sold 29,797 shares of Ouster stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $38.82, for a total transaction of $1,156,719.54. Following the completion of the transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 160,829 shares of company stock worth $6,736,649. 5.72% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ouster

A number of large investors have recently modified their holdings of the business. NewEdge Advisors LLC raised its holdings in shares of 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 buying an additional 1,089 shares in the last quarter. Larson Financial Group LLC boosted its stake in Ouster by 118.8% in the fourth quarter. Larson Financial Group LLC now owns 1,965 shares of the company’s stock valued at $43,000 after buying an additional 1,067 shares in the last quarter. Orion Capital Management LLC grew its position in Ouster by 195.7% in the second quarter. Orion Capital Management LLC now owns 1,511 shares of the company’s stock valued at $94,000 after acquiring an additional 1,000 shares during the last quarter. SHP Wealth Management acquired a new position in Ouster during the fourth quarter worth about $96,000. Finally, Van ECK Associates Corp grew its holdings 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 during the last quarter. Institutional investors and hedge funds own 31.45% of the company’s stock.

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.