FirstWave Capital Management LLC Acquires Shares of 46,043 Ouster, Inc. $OUST

FirstWave Capital Management LLC acquired a new stake in Ouster, Inc. (NASDAQ:OUST) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 46,043 shares of the company’s stock, valued at approximately $2,879,000. Ouster accounts for about 1.3% of FirstWave Capital Management LLC’s investment portfolio, making the stock its 22nd biggest position. FirstWave Capital Management LLC owned approximately 0.06% of Ouster as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. AQR Capital Management LLC boosted its holdings in shares of Ouster by 610.1% during the 1st 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 period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Ouster by 7.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,344 shares of the company’s stock valued at $255,000 after buying an additional 2,037 shares during the last quarter. Legal & General Group Plc raised its holdings in 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 acquiring an additional 5,796 shares during the period. American Century Companies Inc. lifted its position in Ouster by 22.0% during the second quarter. American Century Companies Inc. now owns 63,298 shares of the company’s stock worth $1,535,000 after acquiring an additional 11,416 shares during the last quarter. Finally, Invesco Ltd. lifted its position in 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 acquiring an additional 536,413 shares during the last quarter. Institutional investors and hedge funds own 31.45% of the company’s stock.

Ouster Stock Up 1.7%

OUST opened at $36.43 on Friday. Ouster, Inc. has a twelve month low of $16.40 and a twelve month high of $63.79. The company has a 50-day simple moving average of $41.41 and a 200 day simple moving average of $33.10. The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of -42.36 and a beta of 3.25.

Ouster (NASDAQ:OUST) last released its earnings results on Thursday, August 6th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $54.63 million during the quarter, compared to the consensus estimate of $51.47 million. Sell-side analysts anticipate that Ouster, Inc. will post -1.07 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Citigroup reaffirmed an “outperform” rating on shares of Ouster in a research report on Tuesday, July 21st. Rosenblatt Securities reissued a “buy” rating and set a $53.00 price target on shares of Ouster in a report on Thursday, August 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ouster in a report on Wednesday, August 12th. Oppenheimer restated an “outperform” rating and issued a $57.00 price target (up from $42.00) on shares of Ouster in a research note on Wednesday, July 15th. Finally, Roth Capital initiated coverage on shares of Ouster in a research report on Friday, May 29th. They set a “buy” rating and a $75.00 price target on the stock. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $54.67.

Insider Buying and Selling at Ouster

In other news, Director Stephen A. Skaggs sold 3,614 shares of Ouster stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $45.18, for a total value of $163,280.52. Following the transaction, the director owned 61,415 shares in the company, valued at approximately $2,774,729.70. This trade represents a 5.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ted L. Tewksbury III sold 1,695 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $47.00, for a total value of $79,665.00. Following the sale, the director owned 124,999 shares of the company’s stock, valued at approximately $5,874,953. This represents a 1.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 160,829 shares of company stock valued at $6,736,649. 5.72% of the stock is currently owned by insiders.

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.