Ouster, Inc. (NASDAQ:OUST) Stock Has Consensus Target Price of $54.67 According to Brokerages

Shares of Ouster, Inc. (NASDAQ:OUST) have received an average rating of “Moderate Buy” from the eight ratings firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $54.67.

A number of research firms recently issued reports on OUST. Weiss Ratings reissued a “sell (d-)” rating on shares of Ouster in a research report on Wednesday, August 12th. Northland Securities set a $60.00 price target on shares of Ouster and gave the stock an “outperform” rating in a research note on Tuesday, July 21st. Rosenblatt Securities restated a “buy” rating and set a $53.00 price target on shares of Ouster in a report on Thursday, August 27th. Citigroup restated an “outperform” rating on shares of Ouster in a report on Tuesday, July 21st. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $57.00 price objective (up from $42.00) on shares of Ouster in a research note on Wednesday, July 15th.

Ouster Stock Up 1.5%

Shares of NASDAQ OUST opened at $28.86 on Thursday. Ouster has a 12 month low of $16.40 and a 12 month high of $63.79. The business has a fifty day simple moving average of $38.20 and a 200-day simple moving average of $36.98. The company has a market cap of $2.08 billion, a price-to-earnings ratio of -33.56 and a beta of 3.23.

Ouster (NASDAQ:OUST) last released its earnings results on Thursday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.14). The business had revenue of $54.63 million during the quarter, compared to analysts’ expectations of $51.47 million. Ouster had a negative net margin of 26.02% and a negative return on equity of 17.49%. As a group, sell-side analysts expect that Ouster will post -1.07 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, COO Darien Spencer sold 12,808 shares of the firm’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $33.96, for a total value of $434,959.68. Following the transaction, the chief operating officer directly owned 286,998 shares in the company, valued at approximately $9,746,452.08. This trade represents a 4.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Charles Pacala sold 30,385 shares of the company’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $33.96, for a total transaction of $1,031,874.60. Following the sale, the chief executive officer owned 1,041,816 shares of the company’s stock, valued at $35,380,071.36. This trade represents a 2.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 173,037 shares of company stock valued at $6,720,238 in the last three months. Company insiders own 5.72% of the company’s stock.

Institutional Trading of Ouster

Several hedge funds and other institutional investors have recently bought and sold shares of OUST. Arrowstreet Capital Limited Partnership bought a new position in Ouster in the 1st quarter worth approximately $8,915,000. Baird Financial Group Inc. acquired a new position in shares of Ouster during the second quarter valued at $25,218,000. Bastion Asset Management Inc. acquired a new position in shares of Ouster during the first quarter valued at $5,271,000. Wellington Management Group LLP bought a new position in Ouster in the second quarter valued at about $15,384,000. Finally, Bank of New York Mellon Corp bought a new position in Ouster in the second quarter valued at about $11,192,000. 31.45% of the stock is currently owned by institutional investors and hedge funds.

About Ouster

Ouster, Inc is a technology company that develops lidar sensors and software for machine perception. Its digital lidar products use laser light to create three-dimensional representations of surrounding environments, helping machines detect objects, measure distances, and operate with greater situational awareness.

The company’s product portfolio includes lidar sensors for industrial automation, robotics, autonomous vehicles, transportation, mapping, and smart-infrastructure applications.