Ted Tewksbury III Sells 1,695 Shares of Ouster (NASDAQ:OUST) Stock

Ouster, Inc. (NASDAQ:OUST) Director Ted Tewksbury III sold 1,695 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $47.00, for a total transaction of $79,665.00. Following the completion of the transaction, the director owned 124,999 shares in the company, valued at approximately $5,874,953. This trade represents a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Ouster Stock Performance

Ouster stock traded up $1.11 during trading hours on Monday, hitting $47.68. 6,119,600 shares of the stock were exchanged, compared to its average volume of 2,991,054. The stock has a market capitalization of $2.99 billion, a P/E ratio of -49.15 and a beta of 3.24. The business’s 50-day moving average is $33.67 and its two-hundred day moving average is $26.09. Ouster, Inc. has a 12 month low of $16.40 and a 12 month high of $51.50.

Ouster (NASDAQ:OUST) last posted its 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). The firm had revenue of $48.58 million during the quarter, compared to the consensus estimate 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 last year, the firm posted ($0.42) EPS. On average, equities analysts predict that Ouster, Inc. will post -1.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ouster

Large investors have recently made changes to their positions in the company. Invesco Ltd. increased its position in Ouster by 1,521.8% in 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 period. Arrowstreet Capital Limited Partnership acquired a new position in Ouster during the 1st quarter valued at about $8,915,000. Vanguard Group Inc. lifted its position in Ouster by 11.3% during the 3rd quarter. Vanguard Group Inc. now owns 4,720,264 shares of the company’s stock valued at $127,683,000 after purchasing an additional 478,372 shares during the period. Handelsbanken Fonder AB boosted its stake in shares of 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 purchasing an additional 405,441 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its stake in shares of Ouster by 517.5% in the 4th quarter. Squarepoint Ops LLC now owns 401,727 shares of the company’s stock valued at $8,693,000 after purchasing an additional 336,673 shares during the last quarter. Institutional investors and hedge funds own 31.45% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on OUST. Oppenheimer reissued an “outperform” rating and issued a $40.00 price objective on shares of Ouster in a research note on Tuesday, March 3rd. Roth Mkm began coverage on Ouster in a research note on Friday, May 29th. They issued a “buy” rating and a $75.00 target price for the company. Rosenblatt Securities lifted their price target on Ouster from $40.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Cantor Fitzgerald downgraded shares of Ouster from an “overweight” rating to a “neutral” rating in a research report on Thursday, May 7th. Finally, Weiss Ratings started coverage on shares of Ouster in a report on Friday, May 15th. They set a “sell (d-)” rating on the stock. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $48.17.

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.