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

Ouster (NASDAQ:OUST)‘s stock had its “buy” rating reaffirmed by research analysts at Rosenblatt Securities in a research note issued on Thursday,Benzinga reports. They currently have a $53.00 target price on the stock. Rosenblatt Securities’ target price points to a potential upside of 45.00% from the stock’s previous close.

A number of other analysts also recently issued reports on the stock. Roth Capital assumed coverage on shares of Ouster in a report on Friday, May 29th. They issued a “buy” rating and a $75.00 price target on the stock. Citigroup reissued an “outperform” rating on shares of Ouster in a report on Tuesday, July 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ouster in a research report on Wednesday, August 12th. Northland Securities set a $60.00 price objective on Ouster and gave the stock an “outperform” rating in a report on Tuesday, July 21st. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $57.00 price objective (up from $42.00) on shares of Ouster in a report on Wednesday, July 15th. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Ouster has an average rating of “Moderate Buy” and a consensus price target of $54.67.

Ouster Stock Up 1.9%

OUST traded up $0.68 during mid-day trading on Thursday, reaching $36.55. 1,812,054 shares of the company traded hands, compared to its average volume of 3,248,263. The company’s fifty day moving average price is $42.70 and its 200-day moving average price is $32.42. The stock has a market capitalization of $2.64 billion, a P/E ratio of -42.50 and a beta of 3.24. Ouster has a 52-week low of $16.40 and a 52-week high of $63.79.

Ouster (NASDAQ:OUST) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.14). Ouster had a negative net margin of 26.02% and a negative return on equity of 17.49%. The company had revenue of $54.63 million for the quarter, compared to the consensus estimate of $51.47 million. As a group, sell-side analysts forecast that Ouster will post -1.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Ouster

In other news, COO Darien Spencer sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $45.00, for a total value of $1,350,000.00. Following the completion of the sale, the chief operating officer owned 299,806 shares in the company, valued at approximately $13,491,270. This trade represents a 9.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kenneth P. Gianella sold 54,337 shares of the company’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 $2,109,362.34. Following the transaction, the chief financial officer directly owned 301,014 shares in the company, valued at approximately $11,685,363.48. This represents a 15.29% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 160,829 shares of company stock valued at $6,736,649. Insiders own 5.72% of the company’s stock.

Institutional Trading of Ouster

Institutional investors and hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System increased its stake in Ouster by 6,016.8% in the 2nd quarter. California State Teachers Retirement System now owns 4,856,804 shares of the company’s stock worth $303,647,000 after buying an additional 4,777,403 shares during the period. Geode Capital Management LLC grew its stake in Ouster by 9.1% in the 4th quarter. Geode Capital Management LLC now owns 1,421,130 shares of the company’s stock worth $30,758,000 after acquiring an additional 118,132 shares in the last quarter. Penn Capital Management Company LLC increased its position in shares of Ouster by 24.1% during the fourth quarter. Penn Capital Management Company LLC now owns 775,297 shares of the company’s stock worth $16,817,000 after acquiring an additional 150,337 shares during the period. Handelsbanken Fonder AB increased its position in shares of Ouster by 130.7% during the fourth quarter. Handelsbanken Fonder AB now owns 715,646 shares of the company’s stock worth $15,479,000 after acquiring an additional 405,441 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 valued at $13,863,000 after acquiring an additional 536,413 shares in the last quarter. 31.45% of the stock is currently owned by institutional investors.

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.