Ouster (NASDAQ:OUST) Shares Up 2.4% – Still a Buy?

Ouster, Inc. (NASDAQ:OUST) shares rose 2.4% on Monday . The stock traded as high as $51.50 and last traded at $47.68. 6,104,031 shares were traded during trading, an increase of 104% from the average session volume of 2,990,863 shares. The stock had previously closed at $46.57.

Analysts Set New Price Targets

OUST has been the topic of several analyst reports. Weiss Ratings initiated coverage on shares of Ouster in a research report on Friday, May 15th. They set a “sell (d-)” rating on the stock. Oppenheimer reiterated an “outperform” rating and set a $40.00 price target on shares of Ouster in a research note on Tuesday, March 3rd. Cantor Fitzgerald lowered Ouster from an “overweight” rating to a “neutral” rating in a report on Thursday, May 7th. Roth Mkm assumed coverage on Ouster in a research note on Friday, May 29th. They issued a “buy” rating and a $75.00 price objective on the stock. Finally, Rosenblatt Securities boosted their target price on Ouster from $40.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $48.17.

Ouster Stock Performance

The firm’s 50-day simple moving average is $33.67 and its 200-day simple moving average is $26.09. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of -49.15 and a beta of 3.24.

Ouster (NASDAQ:OUST) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $46.15 million. During the same quarter in the prior year, the business posted ($0.42) EPS. Equities research analysts forecast that Ouster, Inc. will post -1.05 earnings per share for the current year.

Insider Activity at Ouster

In related news, CTO Mark Frichtl sold 308,742 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $41.53, for a total transaction of $12,822,055.26. Following the completion of the sale, the chief technology officer directly owned 294,924 shares of the company’s stock, valued at $12,248,193.72. This trade represents a 51.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO Cyrille Jacquemet sold 9,433 shares of Ouster stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $40.00, for a total value of $377,320.00. Following the completion of the transaction, the executive directly owned 123,158 shares of the company’s stock, valued at $4,926,320. This represents a 7.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 948,896 shares of company stock valued at $33,336,715. Insiders own 5.72% of the company’s stock.

Institutional Investors Weigh In On Ouster

A number of institutional investors have recently made changes to their positions in the stock. NewEdge Advisors LLC grew its position in shares of Ouster by 2,532.6% during the 2nd quarter. NewEdge Advisors LLC now owns 1,132 shares of the company’s stock worth $27,000 after buying an additional 1,089 shares during the period. Larson Financial Group LLC raised its position in shares of Ouster by 118.8% in the 4th quarter. Larson Financial Group LLC now owns 1,965 shares of the company’s stock valued at $43,000 after acquiring an additional 1,067 shares during the period. Gordian Capital Singapore Pte Ltd boosted its stake in Ouster by 38.1% during the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 2,900 shares of the company’s stock worth $78,000 after acquiring an additional 800 shares during the last quarter. Van ECK Associates Corp boosted its stake in Ouster by 17.1% during the 3rd quarter. Van ECK Associates Corp now owns 3,590 shares of the company’s stock worth $97,000 after acquiring an additional 525 shares during the last quarter. Finally, Banque Cantonale Vaudoise acquired a new position in Ouster during the third quarter valued at approximately $120,000. 31.45% of the stock is owned by institutional investors and hedge funds.

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.