Ouster (NASDAQ:OUST) Trading Up 4.8% – Should You Buy?

Ouster, Inc. (NASDAQ:OUST) shares rose 4.8% during trading on Tuesday . The company traded as high as $43.29 and last traded at $41.97. 2,447,779 shares traded hands during mid-day trading, a decline of 25% from the average daily volume of 3,272,229 shares. The stock had previously closed at $40.03.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Roth Capital assumed coverage on Ouster in a research report on Friday, May 29th. They set a “buy” rating and a $75.00 price objective for the company. Weiss Ratings started coverage on Ouster in a research note on Friday, May 15th. They issued a “sell (d-)” rating on the stock. Rosenblatt Securities raised 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. Finally, Cantor Fitzgerald lowered Ouster from an “overweight” rating to a “neutral” rating in a research report on Thursday, May 7th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $48.17.

Ouster Price Performance

The company has a market cap of $2.64 billion, a P/E ratio of -43.27 and a beta of 3.17. The company’s 50-day moving average is $40.88 and its two-hundred day moving average is $28.79.

Ouster (NASDAQ:OUST) last released its quarterly earnings data 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). The business had revenue of $48.58 million during the quarter, compared to the consensus estimate of $46.15 million. Ouster had a negative net margin of 30.12% and a negative return on equity of 21.49%. During the same period last year, the company posted ($0.42) earnings per share. Equities research analysts anticipate that Ouster, Inc. will post -1.05 EPS for the current year.

Insider Activity at Ouster

In related news, CFO Kenneth P. Gianella sold 54,337 shares of Ouster stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $38.82, for a total value of $2,109,362.34. Following the completion of the sale, the chief financial officer directly owned 301,014 shares in the company, valued at approximately $11,685,363.48. This trade represents a 15.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Cyrille Jacquemet sold 9,433 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was 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 approximately $4,926,320. This trade represents a 7.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 870,591 shares of company stock valued at $31,668,380 over the last three months. 5.72% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp grew its position in Ouster by 17.1% in the 3rd quarter. Van ECK Associates Corp now owns 3,590 shares of the company’s stock worth $97,000 after purchasing an additional 525 shares during the period. Main Management ETF Advisors LLC lifted its holdings in shares of Ouster by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 54,810 shares of the company’s stock valued at $1,186,000 after buying an additional 560 shares during the period. Corient Private Wealth LLC lifted its holdings in shares of Ouster by 5.5% during the 2nd quarter. Corient Private Wealth LLC now owns 11,554 shares of the company’s stock valued at $280,000 after buying an additional 599 shares during the period. Prosperity Wealth Management Inc. boosted its stake in shares of Ouster by 5.5% in the 3rd quarter. Prosperity Wealth Management Inc. now owns 13,000 shares of the company’s stock worth $352,000 after buying an additional 675 shares during the last quarter. Finally, Creative Planning boosted its stake in shares of Ouster by 1.6% in the 3rd quarter. Creative Planning now owns 43,681 shares of the company’s stock worth $1,182,000 after buying an additional 677 shares during the last quarter. 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.