Ouster’s (OUST) Buy Rating Reiterated at Rosenblatt Securities

Ouster (NASDAQ:OUST)‘s stock had its “buy” rating restated by research analysts at Rosenblatt Securities in a research note issued on Friday,Benzinga reports. They presently have a $53.00 price objective on the stock. Rosenblatt Securities’ price target would indicate a potential upside of 16.28% from the stock’s current price.

A number of other brokerages also recently weighed in on OUST. Cantor Fitzgerald lowered shares of Ouster from an “overweight” rating to a “neutral” rating in a report on Thursday, May 7th. Weiss Ratings began coverage on Ouster in a report on Friday, May 15th. They set a “sell (d-)” rating for the company. Roth Capital assumed coverage on Ouster in a report on Friday, May 29th. They set a “buy” rating and a $75.00 price target for the company. Oppenheimer reissued an “outperform” rating and issued a $57.00 price objective (up from $42.00) on shares of Ouster in a research report on Wednesday, July 15th. Finally, Citigroup reissued an “outperform” rating on shares of Ouster in a research note on Tuesday, July 21st. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $54.67.

Ouster Stock Performance

Ouster stock opened at $45.58 on Friday. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of -46.99 and a beta of 3.24. Ouster has a 52-week low of $16.40 and a 52-week high of $63.79. The firm has a 50 day moving average price of $42.85 and a two-hundred day moving average price of $30.56.

Ouster (NASDAQ:OUST) last posted its quarterly earnings data 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 30.12% and a negative return on equity of 21.49%. The firm had revenue of $54.63 million during the quarter, compared to the consensus estimate of $51.47 million. As a group, equities research analysts predict that Ouster will post -1.03 EPS for the current fiscal year.

Insider Activity at Ouster

In related news, CRO Cyrille Jacquemet sold 10,000 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $35.00, for a total value of $350,000.00. Following the transaction, the executive directly owned 132,590 shares in the company, valued at $4,640,650. This trade represents a 7.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kenneth P. Gianella sold 54,337 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $38.82, for a total transaction of $2,109,362.34. Following the sale, the chief financial officer owned 301,014 shares of the company’s stock, valued at $11,685,363.48. This trade represents a 15.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 739,754 shares of company stock valued at $28,702,157 over the last three months. 5.72% of the stock is currently owned by company insiders.

Institutional Trading of Ouster

Institutional investors and hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC grew its holdings in Ouster by 2,532.6% during the second 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 holdings in Ouster by 118.8% during the 4th quarter. Larson Financial Group LLC now owns 1,965 shares of the company’s stock worth $43,000 after acquiring an additional 1,067 shares during the last quarter. SHP Wealth Management purchased a new position in Ouster during the 4th quarter worth $96,000. Van ECK Associates Corp boosted its holdings in Ouster by 17.1% during the 3rd quarter. Van ECK Associates Corp now owns 3,590 shares of the company’s stock worth $97,000 after acquiring an additional 525 shares during the last quarter. Finally, Global Retirement Partners LLC grew its stake in shares of Ouster by 139.9% in the 4th quarter. Global Retirement Partners LLC now owns 4,622 shares of the company’s stock worth $100,000 after acquiring an additional 2,695 shares in the last quarter. 31.45% of the stock is owned by hedge funds and other institutional investors.

Ouster Company Profile

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.