Ouster (NASDAQ:OUST) Shares Up 10.3% – Here’s What Happened

Ouster, Inc. (NASDAQ:OUST) rose 10.3% on Monday . The stock traded as high as $54.92 and last traded at $54.9760. Approximately 2,934,887 shares traded hands during mid-day trading, a decline of 8% from the average daily volume of 3,199,996 shares. The stock had previously closed at $49.84.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Rosenblatt Securities boosted their price objective on Ouster from $40.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Weiss Ratings started coverage on Ouster in a research note on Friday, May 15th. They issued a “sell (d-)” rating on the stock. Cantor Fitzgerald downgraded Ouster from an “overweight” rating to a “neutral” rating in a research report on Thursday, May 7th. Finally, Roth Capital began coverage on shares of Ouster in a research note on Friday, May 29th. They set a “buy” rating and a $75.00 target price for the company. Four 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $48.17.

Ouster Stock Performance

The company has a fifty day simple moving average of $39.50 and a two-hundred day simple moving average of $28.20. The firm has a market capitalization of $2.72 billion, a PE ratio of -44.67 and a beta of 3.17.

Ouster (NASDAQ:OUST) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.16). Ouster had a negative net margin of 30.12% and a negative return on equity of 21.49%. The firm had revenue of $48.58 million during the quarter, compared to the consensus estimate of $46.15 million. During the same quarter in the previous year, the firm earned ($0.42) earnings per share. On average, equities analysts anticipate that Ouster, Inc. will post -1.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Ted L. Tewksbury III sold 1,695 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $47.00, for a total value of $79,665.00. Following the completion of the transaction, the director owned 124,999 shares of the company’s stock, valued at $5,874,953. The trade was a 1.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO Cyrille Jacquemet sold 9,433 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $40.00, for a total value of $377,320.00. Following the sale, the executive owned 123,158 shares of the company’s stock, valued at approximately $4,926,320. This represents a 7.11% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 910,591 shares of company stock worth $32,578,780. 5.72% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ouster

A number of hedge funds have recently made changes to their positions in OUST. Fermata Advisors LLC bought a new stake in Ouster during the second quarter valued at about $239,000. GK Wealth Management LLC purchased a new stake in shares of Ouster during the second quarter valued at about $281,000. CoreCap Advisors LLC lifted its position in shares of Ouster by 19,324.3% during the second quarter. CoreCap Advisors LLC now owns 7,187 shares of the company’s stock valued at $449,000 after buying an additional 7,150 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Ouster by 114.6% in the 1st quarter. Bank of America Corp DE now owns 217,390 shares of the company’s stock valued at $3,993,000 after buying an additional 116,096 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of Ouster by 706.0% in the 1st quarter. Janus Henderson Group PLC now owns 177,895 shares of the company’s stock valued at $3,268,000 after buying an additional 155,825 shares in the last quarter. 31.45% of the stock is currently 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.