Ouster (NASDAQ:OUST) Shares Up 9.9% – Still a Buy?

Ouster, Inc. (NASDAQ:OUST)’s share price rose 9.9% during trading on Tuesday . The company traded as high as $45.36 and last traded at $46.2850. Approximately 493,276 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 3,272,258 shares. The stock had previously closed at $42.13.

Analysts Set New Price Targets

OUST has been the topic of a number of recent research reports. Weiss Ratings started coverage on Ouster in a report on Friday, May 15th. They set a “sell (d-)” rating on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $53.00 price target on shares of Ouster in a research report on Friday. Oppenheimer reissued an “outperform” rating and issued 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, Cantor Fitzgerald cut shares of Ouster from an “overweight” rating to a “neutral” rating in a research note on Thursday, May 7th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Ouster presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.67.

Ouster Stock Performance

The stock has a market capitalization of $2.88 billion, a P/E ratio of -53.45 and a beta of 3.25. The firm has a 50-day moving average price of $42.74 and a 200 day moving average price of $30.80.

Ouster (NASDAQ:OUST) last issued its earnings results on Thursday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.14). Ouster had a negative return on equity of 17.49% and a negative net margin of 26.02%.The firm had revenue of $54.63 million during the quarter, compared to analysts’ expectations of $51.47 million. On average, equities analysts anticipate that Ouster, Inc. will post -1.03 earnings per share for the current fiscal year.

Insider Activity at Ouster

In other Ouster news, CEO Charles Angus Pacala sold 29,797 shares of the business’s stock in a transaction on Friday, June 12th. The shares were 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 of the company’s stock, valued at $41,622,842.82. The trade was a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Kenneth P. Gianella sold 54,337 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $38.82, for a total transaction 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. The trade was a 15.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 744,754 shares of company stock worth $28,929,859 in the last 90 days. Corporate insiders own 5.72% of the company’s stock.

Institutional Investors Weigh In On Ouster

Hedge funds and other institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC boosted its holdings in Ouster by 2,532.6% during the 2nd quarter. NewEdge Advisors LLC now owns 1,132 shares of the company’s stock valued at $27,000 after acquiring an additional 1,089 shares during the period. Larson Financial Group LLC increased its stake in Ouster by 118.8% in the 4th quarter. Larson Financial Group LLC now owns 1,965 shares of the company’s stock worth $43,000 after purchasing an additional 1,067 shares during the period. SHP Wealth Management bought a new stake in Ouster in the fourth quarter valued at approximately $96,000. Van ECK Associates Corp boosted its stake in shares of Ouster by 17.1% during the third quarter. Van ECK Associates Corp now owns 3,590 shares of the company’s stock valued at $97,000 after purchasing an additional 525 shares during the period. Finally, Global Retirement Partners LLC boosted its stake in shares of Ouster by 139.9% during the fourth quarter. Global Retirement Partners LLC now owns 4,622 shares of the company’s stock valued at $100,000 after purchasing an additional 2,695 shares during the period. Institutional investors own 31.45% of the company’s stock.

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.