Ouster (NASDAQ:OUST) Shares Gap Up Following Analyst Upgrade

Ouster, Inc. (NASDAQ:OUST)’s stock price gapped up before the market opened on Wednesday after Cantor Fitzgerald upgraded the stock from a neutral rating to an overweight rating. The stock had previously closed at $28.98, but opened at $33.26. Cantor Fitzgerald now has a $45.00 price target on the stock. Ouster shares last traded at $31.9820, with a volume of 900,389 shares traded.

OUST has been the topic of a number of other reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $53.00 target price on shares of Ouster in a research report on Thursday, August 27th. Northland Securities set a $60.00 price objective on shares of Ouster and gave the company an “outperform” rating in a research report on Tuesday, July 21st. Oppenheimer reissued an “outperform” rating and set a $57.00 price target (up from $42.00) on shares of Ouster in a report on Wednesday, July 15th. Citigroup restated an “outperform” rating on shares of Ouster in a research report on Tuesday, July 21st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ouster in a research note on Wednesday, August 12th. Seven research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $56.67.

Insider Activity

In other news, General Counsel Megan Chung sold 11,484 shares of the business’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 $389,996.64. Following the sale, the general counsel directly owned 189,291 shares in the company, valued at approximately $6,428,322.36. The trade was a 5.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Mark Frichtl sold 18,778 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 value of $637,700.88. Following the transaction, the chief technology officer owned 318,987 shares of the company’s stock, valued at $10,832,798.52. This trade represents a 5.56% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 141,651 shares of company stock valued at $5,305,817. Insiders own 5.72% of the company’s stock.

Key Ouster News

Here are the key news stories impacting Ouster this week:

• Positive Sentiment: Ouster reported Q3 revenue of about $59 million, up 50% year over year and above estimates, alongside record shipments of more than 27,000 sensors. The quarterly loss narrowed from a year earlier. Ouster Q3 results
• Positive Sentiment: Management forecast Q4 revenue of $61 million to $64 million and said it is scaling REV8 production toward annual capacity of 100,000 units by the end of 2027, signaling expectations for continued growth. Q4 outlook and REV8 capacity
• Positive Sentiment: Cantor Fitzgerald upgraded OUST from neutral to overweight with a $45 price target. Rosenblatt Securities reaffirmed its buy rating and $53 target, adding analyst support. Cantor Fitzgerald recommendations Rosenblatt Securities recommendations
• Neutral Sentiment: The shares had fallen sharply over the preceding month, a sign of elevated volatility that may temper reactions to the new results. Recent share-price decline
• Negative Sentiment: Ouster remains unprofitable, with a Q3 loss of $0.20 per share. That was narrower year over year, but missed one reported analyst consensus estimate, keeping profitability a concern. Q3 earnings coverage

Institutional Investors Weigh In On Ouster

A number of institutional investors have recently made changes to their positions in OUST. Parallel Advisors LLC increased its stake in shares of Ouster by 66.2% in the 3rd quarter. Parallel Advisors LLC now owns 866 shares of the company’s stock valued at $35,000 after acquiring an additional 345 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of Ouster by 83.4% during the third quarter. Farther Finance Advisors LLC now owns 895 shares of the company’s stock worth $36,000 after buying an additional 407 shares during the period. GAMMA Investing LLC raised its holdings in shares of Ouster by 31.0% in the third quarter. GAMMA Investing LLC now owns 1,441 shares of the company’s stock valued at $58,000 after purchasing an additional 341 shares during the last quarter. Allworth Financial LP boosted its stake in shares of Ouster by 40.3% during the 2nd quarter. Allworth Financial LP now owns 1,190 shares of the company’s stock worth $74,000 after buying an additional 342 shares during the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in Ouster in the second quarter valued at approximately $74,000. 31.45% of the stock is owned by institutional investors and hedge funds.

Ouster Stock Up 11.1%

The stock has a market cap of $2.32 billion, a price-to-earnings ratio of -37.31 and a beta of 3.47. The business’s 50 day simple moving average is $35.56 and its 200 day simple moving average is $32.43.

Ouster (NASDAQ:OUST) last released its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.12). The company had revenue of $59.33 million during the quarter, compared to analyst estimates of $56.30 million. Ouster had a negative net margin of 26.02% and a negative return on equity of 17.49%. Equities research analysts forecast that Ouster, Inc. will post -1.07 earnings per share for the current fiscal year.

Ouster Company Profile

Ouster, Inc is a technology company that develops and manufactures digital lidar sensors and related software. Its lidar systems use laser light to detect and measure surrounding objects, supporting applications that require real-time perception, mapping, and automation.

The company’s products are designed for customers in the automotive, industrial automation, robotics, infrastructure, mapping, security, and smart-city markets. Ouster provides lidar sensors for uses such as autonomous and assisted driving, warehouse and industrial operations, traffic monitoring, asset inspection, and other machine-perception applications.