Ouster (NASDAQ:OUST) Trading 2.4% Higher – Still a Buy?

Ouster, Inc. (NASDAQ:OUST)’s stock price was up 2.4% on Monday . The company traded as high as $51.50 and last traded at $47.68. Approximately 6,104,031 shares were traded during trading, an increase of 104% from the average daily volume of 2,990,863 shares. The stock had previously closed at $46.57.

Wall Street Analyst Weigh In

Several research firms have issued reports on OUST. Oppenheimer restated an “outperform” rating and issued a $40.00 price target on shares of Ouster in a research report on Tuesday, March 3rd. Rosenblatt Securities increased their price objective on Ouster from $40.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Roth Mkm began coverage on Ouster in a research report on Friday, May 29th. They set a “buy” rating and a $75.00 target price on the stock. Cantor Fitzgerald downgraded Ouster from an “overweight” rating to a “neutral” rating in a report on Thursday, May 7th. Finally, Weiss Ratings started coverage on Ouster in a research report on Friday, May 15th. They issued a “sell (d-)” rating for the company. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $48.17.

Ouster Trading Up 2.4%

The stock has a market capitalization of $2.99 billion, a PE ratio of -49.15 and a beta of 3.24. The firm’s 50-day simple moving average is $33.67 and its two-hundred day simple moving average is $26.09.

Ouster (NASDAQ:OUST) last released its 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 net margin of 30.12% and a negative return on equity of 21.49%. The business had revenue of $48.58 million during the quarter, compared to analysts’ expectations of $46.15 million. During the same quarter in the previous year, the company earned ($0.42) EPS. As a group, research analysts expect that Ouster, Inc. will post -1.05 earnings per share for the current year.

Insider Activity

In other Ouster 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 transaction of $2,109,362.34. Following the transaction, the chief financial officer owned 301,014 shares of the company’s stock, valued at $11,685,363.48. The trade was a 15.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Darien Spencer sold 30,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $45.00, for a total value of $1,350,000.00. Following the completion of the transaction, the chief operating officer owned 342,366 shares in the company, valued at $15,406,470. This represents a 8.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 948,896 shares of company stock worth $33,336,715. Corporate insiders own 5.72% of the company’s stock.

Institutional Investors Weigh In On Ouster

Institutional investors have recently modified their holdings of the stock. Hillsdale Investment Management Inc. purchased a new position in Ouster in the third quarter valued at about $3,038,000. Handelsbanken Fonder AB raised its stake in shares of Ouster by 1,419.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 310,205 shares of the company’s stock worth $8,385,000 after purchasing an additional 289,790 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Ouster by 43.2% during the 4th quarter. SG Americas Securities LLC now owns 276,578 shares of the company’s stock valued at $5,985,000 after buying an additional 83,448 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Ouster by 514.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 185,198 shares of the company’s stock valued at $5,010,000 after buying an additional 155,063 shares during the last quarter. Finally, Algert Global LLC grew its stake in shares of Ouster by 192.6% in the 3rd quarter. Algert Global LLC now owns 500,902 shares of the company’s stock valued at $13,549,000 after buying an additional 329,735 shares in the last quarter. Institutional investors and hedge funds 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.