Ouster (NASDAQ:OUST) Hits New 12-Month High – What’s Next?

Ouster, Inc. (NASDAQ:OUST) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $51.50 and last traded at $48.9460, with a volume of 2091412 shares trading hands. The stock had previously closed at $46.57.

Analyst Ratings Changes

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

Ouster Trading Down 5.3%

The company’s 50 day moving average price is $34.71 and its two-hundred day moving average price is $26.43. The stock has a market cap of $2.84 billion, a P/E ratio of -46.56 and a beta of 3.24.

Ouster (NASDAQ:OUST) last announced its earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.16). Ouster had a negative net margin of 30.12% and a negative return on equity of 21.49%. The business had revenue of $48.58 million for the quarter, compared to the consensus estimate of $46.15 million. During the same quarter last year, the firm posted ($0.42) earnings per share. On average, sell-side analysts anticipate that Ouster, Inc. will post -1.05 earnings per share for the current year.

Insider Activity

In other news, CTO Mark Frichtl sold 308,742 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $41.53, for a total value of $12,822,055.26. Following the transaction, the chief technology officer owned 294,924 shares of the company’s stock, valued at $12,248,193.72. This trade represents a 51.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ted L. Tewksbury III sold 1,695 shares of Ouster stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $47.00, for a total value of $79,665.00. Following the transaction, the director directly owned 124,999 shares in the company, valued at approximately $5,874,953. The trade was a 1.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 910,591 shares of company stock worth $32,578,780. Company insiders own 5.72% of the company’s stock.

Institutional Investors Weigh In On Ouster

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Ouster by 11.3% during the third 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 in the last quarter. Geode Capital Management LLC raised its position in shares of Ouster by 9.1% during the 4th quarter. Geode Capital Management LLC now owns 1,421,130 shares of the company’s stock valued at $30,758,000 after purchasing an additional 118,132 shares during the period. Penn Capital Management Company LLC raised its position in shares of Ouster by 24.1% during the 4th quarter. Penn Capital Management Company LLC now owns 775,297 shares of the company’s stock valued at $16,817,000 after purchasing an additional 150,337 shares during the period. Handelsbanken Fonder AB lifted its stake in shares of Ouster by 130.7% during the 4th quarter. Handelsbanken Fonder AB now owns 715,646 shares of the company’s stock valued at $15,479,000 after buying an additional 405,441 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Ouster by 1,521.8% in the 2nd quarter. Invesco Ltd. now owns 571,662 shares of the company’s stock worth $13,863,000 after buying an additional 536,413 shares during the period. 31.45% of the stock is owned by hedge funds and other institutional investors.

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.