Ouster (NASDAQ:OUST) Hits New 1-Year High – What’s Next?

Ouster, Inc. (NASDAQ:OUST) reached a new 52-week high on Monday . The company 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.

Analysts Set New Price Targets

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

Ouster Stock Performance

The stock has a market cap of $3.10 billion, a PE ratio of -50.72 and a beta of 3.24. The company has a 50 day moving average of $33.67 and a two-hundred day moving average of $26.09.

Ouster (NASDAQ:OUST) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share (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 business had revenue of $48.58 million for the quarter, compared to analysts’ expectations of $46.15 million. During the same quarter in the prior year, the company posted ($0.42) EPS. As a group, equities research analysts anticipate that Ouster, Inc. will post -1.05 EPS for the current year.

Insider Transactions at Ouster

In related news, CRO Cyrille Jacquemet sold 9,433 shares of the business’s stock in a transaction on 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 sale, the executive owned 123,158 shares of the company’s stock, valued at approximately $4,926,320. The trade was a 7.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Mark Frichtl sold 308,742 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $41.53, for a total transaction of $12,822,055.26. Following the transaction, the chief technology officer directly owned 294,924 shares in the company, valued at approximately $12,248,193.72. The trade was a 51.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 948,896 shares of company stock worth $33,336,715 in the last ninety days. Company insiders own 5.72% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. NewEdge Advisors LLC boosted its holdings in Ouster by 2,532.6% in 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 last quarter. Larson Financial Group LLC lifted its position in shares of Ouster by 118.8% in the fourth 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 in the last quarter. Gordian Capital Singapore Pte Ltd lifted its position in shares of Ouster by 38.1% in the third quarter. Gordian Capital Singapore Pte Ltd now owns 2,900 shares of the company’s stock valued at $78,000 after acquiring an additional 800 shares in the last quarter. SHP Wealth Management acquired a new stake in shares of Ouster in the fourth quarter worth approximately $96,000. Finally, Van ECK Associates Corp boosted its stake in shares of Ouster by 17.1% in the third 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. 31.45% of the stock is owned by hedge funds and other institutional investors.

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.