Ouster (NASDAQ:OUST) Trading 2.7% Higher – Time to Buy?

Ouster, Inc. (NASDAQ:OUST)’s share price traded up 2.7% during mid-day trading on Thursday . The stock traded as high as $43.59 and last traded at $41.82. 3,857,156 shares changed hands during mid-day trading, an increase of 27% from the average session volume of 3,027,629 shares. The stock had previously closed at $40.71.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Weiss Ratings initiated coverage on shares of Ouster in a research report on Friday, May 15th. They set a “sell (d-)” rating on the stock. 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. Oppenheimer reissued an “outperform” rating and issued a $40.00 price objective on shares of Ouster in a research note on Tuesday, March 3rd. Roth Mkm started coverage on Ouster in a report on Friday, May 29th. They set a “buy” rating and a $75.00 price objective on the stock. Finally, Cantor Fitzgerald cut Ouster from an “overweight” rating to a “neutral” rating in a report on Thursday, May 7th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $48.17.

Ouster Stock Up 2.7%

The company has a market cap of $2.63 billion, a P/E ratio of -43.11 and a beta of 3.24. The business’s 50 day moving average is $35.09 and its 200 day moving average is $26.53.

Ouster (NASDAQ:OUST) last posted its earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.16). The company had revenue of $48.58 million for the quarter, compared to analysts’ expectations of $46.15 million. Ouster had a negative return on equity of 21.49% and a negative net margin of 30.12%.During the same quarter in the prior year, the company earned ($0.42) EPS. As a group, equities research analysts forecast that Ouster, Inc. will post -1.05 EPS for the current year.

Insider Activity

In related news, CRO Cyrille Jacquemet sold 9,433 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $40.00, for a total transaction of $377,320.00. Following the sale, the executive owned 123,158 shares of the company’s stock, valued at $4,926,320. This trade represents a 7.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kenneth P. Gianella sold 54,337 shares of the business’s 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 completion of the transaction, the chief financial officer owned 301,014 shares of the company’s stock, valued at $11,685,363.48. This represents a 15.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 910,591 shares of company stock worth $32,578,780 over the last ninety days. 5.72% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of OUST. AQR Capital Management LLC lifted its position in Ouster by 610.1% during the first quarter. AQR Capital Management LLC now owns 296,311 shares of the company’s stock valued at $2,661,000 after acquiring an additional 254,580 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Ouster by 7.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,344 shares of the company’s stock worth $255,000 after purchasing an additional 2,037 shares during the last quarter. Legal & General Group Plc grew its holdings in Ouster by 138.2% in the second quarter. Legal & General Group Plc now owns 9,990 shares of the company’s stock worth $242,000 after purchasing an additional 5,796 shares during the last quarter. American Century Companies Inc. grew its holdings in Ouster by 22.0% in the second quarter. American Century Companies Inc. now owns 63,298 shares of the company’s stock worth $1,535,000 after purchasing an additional 11,416 shares during the last quarter. Finally, Invesco Ltd. increased 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 purchasing an additional 536,413 shares in the last quarter. Institutional investors 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.