Ouster, Inc. (NASDAQ:OUST) Stock Has Average Target Price of $58.00

Shares of Ouster, Inc. (NASDAQ:OUST) have earned a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating and six have given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $58.00.

Several brokerages have weighed in on OUST. Northland Securities set a $60.00 target price on Ouster and gave the company an “outperform” rating in a research note on Tuesday, July 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Ouster in a research note on Wednesday, August 12th. Rosenblatt Securities reissued a “buy” rating and set a $53.00 price target on shares of Ouster in a report on Wednesday, November 4th. Citigroup restated an “outperform” rating on shares of Ouster in a research note on Tuesday, July 21st. Finally, Oppenheimer restated an “outperform” rating on shares of Ouster in a research note on Wednesday.

Insider Activity

In other news, COO Darien Spencer sold 12,808 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $33.96, for a total value of $434,959.68. Following the completion of the sale, the chief operating officer directly owned 286,998 shares of the company’s stock, valued at approximately $9,746,452.08. This represents a 4.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Charles Pacala sold 30,385 shares of the company’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 $1,031,874.60. Following the completion of the sale, the chief executive officer directly owned 1,041,816 shares of the company’s stock, valued at approximately $35,380,071.36. This represents a 2.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 138,037 shares of company stock worth $5,142,537 in the last 90 days. 5.72% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ouster

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Aberdeen Group plc acquired a new stake in Ouster in the third quarter worth approximately $16,777,000. Csenge Advisory Group bought a new position in Ouster during the 3rd quarter valued at $573,000. Penn Capital Management Company LLC raised its stake in shares of Ouster by 5.2% in the 3rd quarter. Penn Capital Management Company LLC now owns 689,989 shares of the company’s stock worth $27,885,000 after buying an additional 33,901 shares in the last quarter. 180 Wealth Advisors LLC raised its stake in shares of Ouster by 1.3% in the 3rd quarter. 180 Wealth Advisors LLC now owns 59,290 shares of the company’s stock worth $2,392,000 after buying an additional 744 shares in the last quarter. Finally, Parallel Advisors LLC lifted its holdings in shares of Ouster by 66.2% in the third quarter. Parallel Advisors LLC now owns 866 shares of the company’s stock valued at $35,000 after buying an additional 345 shares during the period. Institutional investors own 31.45% of the company’s stock.

Ouster Stock Performance

NASDAQ OUST opened at $34.79 on Monday. The company has a 50-day moving average price of $35.36 and a two-hundred day moving average price of $32.54. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of -50.42 and a beta of 3.47. Ouster has a 52 week low of $16.40 and a 52 week high of $63.79.

Ouster (NASDAQ:OUST) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.12). Ouster had a negative return on equity of 11.70% and a negative net margin of 20.36%. The business had revenue of $59.33 million for the quarter, compared to analyst estimates of $56.30 million. As a group, equities research analysts expect that Ouster will post -0.97 earnings per share for the current fiscal year.

About Ouster

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.