Ouster (NASDAQ:OUST) Trading Up 4.8% – Still a Buy?

Ouster, Inc. (NASDAQ:OUST) was up 4.8% during trading on Tuesday . The company traded as high as $43.29 and last traded at $41.97. 2,447,779 shares were traded during mid-day trading, a decline of 25% from the average daily volume of 3,272,229 shares. The stock had previously closed at $40.03.

Wall Street Analyst Weigh In

OUST has been the subject of a number of recent analyst reports. Rosenblatt Securities lifted their price target on shares of Ouster from $40.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Roth Capital started coverage on shares of Ouster in a report on Friday, May 29th. They issued a “buy” rating and a $75.00 price objective on the stock. Oppenheimer restated an “outperform” rating and set a $57.00 price target (up from $42.00) on shares of Ouster in a research note on Wednesday. Weiss Ratings started coverage on Ouster in a report on Friday, May 15th. They issued a “sell (d-)” rating for the company. Finally, Cantor Fitzgerald cut Ouster from an “overweight” rating to a “neutral” rating in a research note on Thursday, May 7th. Four 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 company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $51.00.

Ouster Stock Down 5.1%

The stock has a market cap of $2.26 billion, a PE ratio of -36.87 and a beta of 3.17. The firm has a fifty day moving average of $41.31 and a 200 day moving average of $29.04.

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

Insiders Place Their Bets

In other news, CFO Kenneth P. Gianella sold 54,337 shares of Ouster stock in a transaction on Friday, June 12th. The shares were sold at an average price of $38.82, for a total value of $2,109,362.34. Following the transaction, the chief financial officer directly owned 301,014 shares of the company’s stock, valued at $11,685,363.48. The trade was a 15.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Darien Spencer sold 30,000 shares of the company’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 completion of the sale, the chief operating officer owned 342,366 shares of the company’s stock, valued at approximately $15,406,470. This trade represents a 8.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 844,754 shares of company stock valued at $31,044,207. 5.72% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ouster

Several hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC grew its holdings in shares of Ouster by 610.1% during the first quarter. AQR Capital Management LLC now owns 296,311 shares of the company’s stock worth $2,661,000 after buying an additional 254,580 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Ouster by 7.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,344 shares of the company’s stock worth $255,000 after acquiring an additional 2,037 shares during the period. Legal & General Group Plc grew its stake in shares of Ouster by 138.2% in the 2nd quarter. Legal & General Group Plc now owns 9,990 shares of the company’s stock valued at $242,000 after purchasing an additional 5,796 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Ouster by 22.0% in the second quarter. American Century Companies Inc. now owns 63,298 shares of the company’s stock valued at $1,535,000 after purchasing an additional 11,416 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Ouster by 1,521.8% during the second quarter. Invesco Ltd. now owns 571,662 shares of the company’s stock worth $13,863,000 after purchasing an additional 536,413 shares during the last quarter. Institutional investors and hedge funds own 31.45% of the company’s stock.

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.