33,901 Ouster, Inc. $OUST Shares Purchased by Penn Capital Management Company LLC

Penn Capital Management Company LLC boosted its stake in Ouster, Inc. (NASDAQ:OUST) by 5.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 689,989 shares of the company’s stock after acquiring an additional 33,901 shares during the period. Ouster comprises approximately 2.0% of Penn Capital Management Company LLC’s investment portfolio, making the stock its 2nd largest position. Penn Capital Management Company LLC’s holdings in Ouster were worth $27,885,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Parallel Advisors LLC lifted its position in Ouster by 66.2% in the third quarter. Parallel Advisors LLC now owns 866 shares of the company’s stock valued at $35,000 after buying an additional 345 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of Ouster by 83.4% during the third quarter. Farther Finance Advisors LLC now owns 895 shares of the company’s stock valued at $36,000 after acquiring an additional 407 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Ouster during the second quarter valued at about $74,000. Allworth Financial LP increased its position in shares of Ouster by 40.3% during the second quarter. Allworth Financial LP now owns 1,190 shares of the company’s stock valued at $74,000 after acquiring an additional 342 shares during the last quarter. Finally, MCF Advisors LLC increased its position in shares of Ouster by 34.4% during the second quarter. MCF Advisors LLC now owns 1,344 shares of the company’s stock valued at $84,000 after acquiring an additional 344 shares during the last quarter. Institutional investors and hedge funds own 31.45% of the company’s stock.

Ouster Trading Up 10.9%

OUST opened at $38.57 on Tuesday. The stock’s 50-day moving average price is $35.44 and its 200 day moving average price is $32.60. Ouster, Inc. has a 12-month low of $16.40 and a 12-month high of $63.79. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of -55.90 and a beta of 3.47.

Ouster (NASDAQ:OUST) last released its earnings results on Tuesday, November 3rd. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.12). The firm had revenue of $59.33 million during the quarter, compared to analyst estimates of $56.30 million. Ouster had a negative net margin of 20.36% and a negative return on equity of 11.70%. On average, research analysts forecast that Ouster, Inc. will post -0.97 earnings per share for the current year.

Insider Buying and Selling at Ouster

In related news, General Counsel Megan Chung sold 11,484 shares of Ouster stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $33.96, for a total value of $389,996.64. Following the completion of the transaction, the general counsel owned 189,291 shares in the company, valued at approximately $6,428,322.36. The trade was a 5.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Cyrille Jacquemet sold 8,896 shares of Ouster stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $33.96, for a total transaction of $302,108.16. Following the completion of the transaction, the executive owned 105,538 shares of the company’s stock, valued at $3,584,070.48. This trade represents a 7.77% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 138,037 shares of company stock valued at $5,142,537. Corporate insiders own 5.72% of the company’s stock.

Analyst Ratings Changes

OUST has been the topic of a number of research analyst reports. Rosenblatt Securities reissued a “buy” rating and issued a $53.00 price target on shares of Ouster in a research note on Wednesday, November 4th. Oppenheimer reaffirmed an “outperform” rating on shares of Ouster in a research report on Wednesday, November 4th. Northland Securities set a $60.00 target price on shares of Ouster and gave the company an “outperform” rating in a report on Tuesday, July 21st. Citigroup reiterated an “outperform” rating on shares of Ouster in a report on Tuesday, July 21st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Ouster in a research report on Wednesday, August 12th. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $58.00.

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.

Ouster was formed through the 2023 merger of Ouster and Velodyne Lidar.