Ouster (NASDAQ:OUST) Sees Large Volume Increase – Here’s Why

Ouster, Inc. (NASDAQ:OUST) shares saw an uptick in trading volume on Monday . 2,442,011 shares changed hands during mid-day trading, a decline of 19% from the previous session’s volume of 3,025,205 shares.The stock last traded at $48.2890 and had previously closed at $42.02.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on OUST shares. Rosenblatt Securities raised their price objective on shares of Ouster from $40.00 to $53.00 and gave the stock 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 report on Thursday, May 7th. Oppenheimer reiterated an “outperform” rating and issued a $40.00 price target on shares of Ouster in a research note on Tuesday, March 3rd. Roth Mkm initiated coverage on Ouster in a report on Friday, May 29th. They issued a “buy” rating and a $75.00 price objective for the company. Finally, Weiss Ratings began coverage on Ouster in a report on Friday, May 15th. They set a “sell (d-)” rating on the stock. Four investment 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 MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $48.17.

Ouster Trading Up 24.1%

The stock’s 50-day moving average price is $35.81 and its 200-day moving average price is $26.77. The company has a market capitalization of $3.27 billion, a P/E ratio of -54.05 and a beta of 3.24.

Ouster (NASDAQ:OUST) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $46.15 million. During the same quarter last year, the company earned ($0.42) EPS. Sell-side analysts expect that Ouster, Inc. will post -1.05 earnings per share for the current fiscal year.

Insider Buying and Selling at Ouster

In related news, CFO Kenneth P. Gianella sold 54,337 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer owned 301,014 shares of the company’s stock, valued at approximately $11,685,363.48. This trade represents a 15.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Charles Angus Pacala sold 29,797 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $38.82, for a total value of $1,156,719.54. Following the completion of the sale, the chief executive officer directly owned 1,072,201 shares in the company, valued at $41,622,842.82. This represents a 2.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 910,591 shares of company stock worth $32,578,780. Corporate insiders own 5.72% of the company’s stock.

Institutional Trading of Ouster

Hedge funds have recently bought and sold shares of the company. Invesco Ltd. boosted its position in shares of Ouster by 1,521.8% during the second quarter. Invesco Ltd. now owns 571,662 shares of the company’s stock worth $13,863,000 after buying an additional 536,413 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of Ouster during the first quarter valued at approximately $8,915,000. Vanguard Group Inc. raised its holdings in Ouster by 11.3% during the third quarter. Vanguard Group Inc. now owns 4,720,264 shares of the company’s stock worth $127,683,000 after purchasing an additional 478,372 shares in the last quarter. Handelsbanken Fonder AB lifted its position in Ouster by 130.7% in the fourth quarter. Handelsbanken Fonder AB now owns 715,646 shares of the company’s stock worth $15,479,000 after purchasing an additional 405,441 shares during the period. Finally, Squarepoint Ops LLC lifted its position in Ouster by 517.5% in the fourth quarter. Squarepoint Ops LLC now owns 401,727 shares of the company’s stock worth $8,693,000 after purchasing an additional 336,673 shares during the period. 31.45% of the stock is currently owned by 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.