Ouster, Inc. $OUST Stock Bought by Penn Capital Management Company LLC

Penn Capital Management Company LLC grew its holdings in shares of Ouster, Inc. (NASDAQ:OUST) by 5.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 689,989 shares of the company’s stock after purchasing an additional 33,901 shares during the quarter. Ouster makes up about 2.0% of Penn Capital Management Company LLC’s portfolio, making the stock its 2nd biggest holding. Penn Capital Management Company LLC owned approximately 0.96% of Ouster worth $27,885,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Parallel Advisors LLC lifted its stake in shares of Ouster by 66.2% in the third quarter. Parallel Advisors LLC now owns 866 shares of the company’s stock worth $35,000 after buying an additional 345 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Ouster by 83.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 895 shares of the company’s stock valued at $36,000 after acquiring an additional 407 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Ouster during the 2nd quarter valued at about $74,000. Allworth Financial LP grew its stake in Ouster by 40.3% during the 2nd quarter. Allworth Financial LP now owns 1,190 shares of the company’s stock valued at $74,000 after acquiring an additional 342 shares in the last quarter. Finally, MCF Advisors LLC raised its holdings in Ouster by 34.4% in the 2nd quarter. MCF Advisors LLC now owns 1,344 shares of the company’s stock valued at $84,000 after acquiring an additional 344 shares during the last quarter. Hedge funds and other institutional investors own 31.45% of the company’s stock.

Ouster Trading Up 10.9%

Shares of OUST stock opened at $38.57 on Tuesday. The company’s 50-day moving average price is $35.44 and its 200-day moving average price is $32.60. The stock has a market cap of $2.78 billion, a price-to-earnings ratio of -55.90 and a beta of 3.47. Ouster, Inc. has a twelve month low of $16.40 and a twelve month high of $63.79.

Ouster (NASDAQ:OUST) last released its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.12). Ouster had a negative return on equity of 11.70% and a negative net margin of 20.36%. The firm had revenue of $59.33 million for the quarter, compared to analyst estimates of $56.30 million. As a group, equities research analysts predict that Ouster, Inc. will post -0.97 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on OUST shares. Northland Securities set a $60.00 target price on shares of Ouster and gave the stock an “outperform” rating in a research note on Tuesday, July 21st. Oppenheimer restated an “outperform” rating on shares of Ouster in a report on Wednesday, November 4th. Citigroup restated an “outperform” rating on shares of Ouster in a research report on Tuesday, July 21st. Cantor Fitzgerald raised Ouster from a “neutral” rating to an “overweight” rating and set a $45.00 price target for the company in a report on Wednesday, November 4th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $53.00 price target on shares of Ouster in a report on Wednesday, November 4th. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Ouster presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.00.

Insiders Place Their Bets

In other news, General Counsel Megan Chung sold 11,484 shares of the stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $33.96, for a total value of $389,996.64. Following the completion of the sale, the general counsel owned 189,291 shares of the company’s stock, valued at $6,428,322.36. This represents a 5.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Darien Spencer sold 12,808 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $33.96, for a total transaction of $434,959.68. Following the sale, the chief operating officer owned 286,998 shares of the company’s stock, valued at $9,746,452.08. This represents a 4.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 138,037 shares of company stock worth $5,142,537. 5.72% of the stock is currently owned by company insiders.

Ouster Profile

Ouster, Inc develops lidar sensors and software that help machines and infrastructure detect and interpret their surroundings. Its digital lidar products use laser-based sensing to create 3D representations of nearby objects and environments.

The company serves customers in areas including industrial automation, robotics, smart infrastructure and automotive applications. Its offerings include lidar sensors and perception software designed to support tasks such as object detection, mapping and navigation.

Ouster was formed through the 2023 merger of Ouster and Velodyne Lidar.