Ouster, Inc. (NASDAQ:OUST) Given Average Rating of “Hold” by Brokerages

Ouster, Inc. (NASDAQ:OUST) has received an average rating of “Hold” from the seven ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $48.1667.

A number of brokerages have weighed in on OUST. Rosenblatt Securities upped their price target on shares of Ouster from $40.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Cantor Fitzgerald lowered shares of Ouster from an “overweight” rating to a “neutral” rating in a research report on Thursday, May 7th. Roth Capital started coverage on Ouster in a research report on Friday, May 29th. They set a “buy” rating and a $75.00 price objective for the company. Finally, Weiss Ratings assumed coverage on Ouster in a report on Friday, May 15th. They issued a “sell (d-)” rating on the stock.

Ouster Stock Performance

OUST traded down $4.94 during trading on Tuesday, reaching $44.89. The company’s stock had a trading volume of 3,647,805 shares, compared to its average volume of 3,236,897. The company’s fifty day moving average price is $39.18 and its 200-day moving average price is $28.03. Ouster has a 52-week low of $16.40 and a 52-week high of $63.79. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of -46.24 and a beta of 3.17.

Ouster (NASDAQ:OUST) last posted its earnings results on Tuesday, May 5th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.16). The business had revenue of $48.58 million during the quarter, compared to analyst estimates of $46.15 million. Ouster had a negative net margin of 30.12% and a negative return on equity of 21.49%. During the same quarter in the prior year, the business earned ($0.42) earnings per share. Equities analysts predict that Ouster will post -1.05 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Charles Angus Pacala sold 29,797 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $38.82, for a total value of $1,156,719.54. Following the completion of the transaction, the chief executive officer owned 1,072,201 shares of the company’s stock, valued at approximately $41,622,842.82. This trade represents a 2.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Darien Spencer sold 30,000 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $45.00, for a total transaction of $1,350,000.00. Following the sale, the chief operating officer directly owned 342,366 shares in the company, valued at approximately $15,406,470. This trade represents a 8.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 910,591 shares of company stock worth $32,578,780. Company insiders own 5.72% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Geode Capital Management LLC grew its stake in Ouster by 9.1% during the 4th quarter. Geode Capital Management LLC now owns 1,421,130 shares of the company’s stock valued at $30,758,000 after acquiring an additional 118,132 shares in the last quarter. Penn Capital Management Company LLC grew its position in Ouster by 24.1% during the fourth quarter. Penn Capital Management Company LLC now owns 775,297 shares of the company’s stock valued at $16,817,000 after purchasing an additional 150,337 shares in the last quarter. Handelsbanken Fonder AB increased its stake in Ouster by 130.7% in the 4th quarter. Handelsbanken Fonder AB now owns 715,646 shares of the company’s stock valued at $15,479,000 after buying an additional 405,441 shares during the period. Invesco Ltd. increased its stake in Ouster by 1,521.8% in the 2nd quarter. Invesco Ltd. now owns 571,662 shares of the company’s stock valued at $13,863,000 after buying an additional 536,413 shares during the period. Finally, Algert Global LLC increased its stake in shares of Ouster by 192.6% in the third quarter. Algert Global LLC now owns 500,902 shares of the company’s stock worth $13,549,000 after acquiring an additional 329,735 shares during the last quarter. 31.45% of the stock is owned by institutional investors and hedge funds.

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.