Ouster (NASDAQ:OUST) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Ouster, Inc. (NASDAQ:OUST) saw an uptick in trading volume on Monday . Approximately 2,442,011 shares changed hands during mid-day trading, a decline of 19% from the previous session’s volume of 3,025,205 shares.The stock last traded at $48.2890 and had previously closed at $42.02.

Analysts Set New Price Targets

Several research firms have recently weighed in on OUST. Roth Mkm began coverage on shares of Ouster in a research report on Friday, May 29th. They set a “buy” rating and a $75.00 price objective for the company. Oppenheimer reiterated an “outperform” rating and issued a $40.00 target price on shares of Ouster in a report on Tuesday, March 3rd. Weiss Ratings started coverage on shares of Ouster in a research note on Friday, May 15th. They set a “sell (d-)” rating for the company. Cantor Fitzgerald cut shares of Ouster from an “overweight” rating to a “neutral” rating in a report on Thursday, May 7th. Finally, Rosenblatt Securities upped 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. Four 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $48.17.

Ouster Trading Up 24.1%

The firm has a market cap of $3.27 billion, a PE ratio of -54.05 and a beta of 3.24. The company’s 50-day moving average is $35.81 and its 200 day moving average is $26.77.

Ouster (NASDAQ:OUST) last posted 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 return on equity of 21.49% and a negative net margin of 30.12%.The firm had revenue of $48.58 million for the quarter, compared to analysts’ expectations of $46.15 million. During the same quarter in the previous year, the firm posted ($0.42) earnings per share. On average, research analysts predict that Ouster, Inc. will post -1.05 EPS for the current fiscal year.

Insider Transactions at Ouster

In other Ouster news, CEO Charles Angus Pacala sold 29,797 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $38.82, for a total transaction of $1,156,719.54. Following the completion of the sale, the chief executive officer directly owned 1,072,201 shares in the company, valued at approximately $41,622,842.82. This trade represents a 2.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Mark Frichtl sold 308,742 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $41.53, for a total transaction of $12,822,055.26. Following the transaction, the chief technology officer directly owned 294,924 shares in the company, valued at $12,248,193.72. The trade was a 51.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 910,591 shares of company stock worth $32,578,780. 5.72% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ouster

Several large investors have recently made changes to their positions in the company. Handelsbanken Fonder AB lifted its stake in shares of Ouster by 1,419.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 310,205 shares of the company’s stock valued at $8,385,000 after purchasing an additional 289,790 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Ouster by 43.2% in the fourth quarter. SG Americas Securities LLC now owns 276,578 shares of the company’s stock worth $5,985,000 after buying an additional 83,448 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Ouster by 514.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 185,198 shares of the company’s stock worth $5,010,000 after buying an additional 155,063 shares during the period. Algert Global LLC boosted its holdings in shares of Ouster by 192.6% during the 3rd quarter. Algert Global LLC now owns 500,902 shares of the company’s stock worth $13,549,000 after buying an additional 329,735 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Ouster by 11.3% in the 3rd quarter. Vanguard Group Inc. now owns 4,720,264 shares of the company’s stock worth $127,683,000 after acquiring an additional 478,372 shares during the period. Institutional investors 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.