Ouster, Inc. (NASDAQ:OUST) Given Consensus Rating of “Moderate Buy” by Analysts

Ouster, Inc. (NASDAQ:OUST) has earned a consensus recommendation of “Moderate Buy” from the nine brokerages that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $54.6667.

OUST has been the subject of several analyst reports. Roth Capital assumed coverage on shares of Ouster in a research report on Friday, May 29th. They set a “buy” rating and a $75.00 price target for the company. Cantor Fitzgerald cut Ouster from an “overweight” rating to a “neutral” rating in a research note on Thursday, May 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ouster in a report on Wednesday, August 12th. Citigroup reissued an “outperform” rating on shares of Ouster in a research report on Tuesday, July 21st. Finally, Northland Securities set a $60.00 price objective on shares of Ouster and gave the stock an “outperform” rating in a report on Tuesday, July 21st.

Ouster Price Performance

Shares of OUST stock opened at $36.23 on Wednesday. The business has a 50-day moving average of $42.80 and a 200 day moving average of $32.28. Ouster has a 1-year low of $16.40 and a 1-year high of $63.79. The stock has a market capitalization of $2.61 billion, a PE ratio of -42.13 and a beta of 3.24.

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

Insider Activity at Ouster

In related news, CFO Kenneth P. Gianella sold 54,337 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer directly owned 301,014 shares of the company’s stock, valued at $11,685,363.48. This represents a 15.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Darien Spencer sold 30,000 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $45.00, for a total transaction of $1,350,000.00. Following the completion of the transaction, the chief operating officer directly owned 299,806 shares of the company’s stock, valued at approximately $13,491,270. The trade was a 9.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 160,829 shares of company stock valued at $6,736,649 over the last three months. Corporate insiders own 5.72% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System boosted its position in shares of Ouster by 50.3% during the first quarter. California State Teachers Retirement System now owns 79,401 shares of the company’s stock valued at $1,459,000 after purchasing an additional 26,574 shares in the last quarter. Renaissance Technologies LLC bought a new position in Ouster in the first quarter worth $2,436,000. Dimensional Fund Advisors LP raised its holdings in Ouster by 7.2% in the first quarter. Dimensional Fund Advisors LP now owns 483,871 shares of the company’s stock worth $8,889,000 after purchasing an additional 32,440 shares in the last quarter. Bastion Asset Management Inc. purchased a new position in Ouster during the first quarter valued at $5,271,000. Finally, Janus Henderson Group PLC lifted its position in Ouster by 706.0% during the first 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 during the period. Institutional investors own 31.45% of the company’s stock.

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.