Renaissance Technologies LLC Makes New $2.44 Million Investment in Ouster, Inc. $OUST

Renaissance Technologies LLC bought a new stake in shares of Ouster, Inc. (NASDAQ:OUST) in the first quarter, Holdings Channel reports. The fund bought 132,600 shares of the company’s stock, valued at approximately $2,436,000.

Several other hedge funds and other institutional investors have also made changes to their positions in OUST. Invesco Ltd. increased its position in shares of Ouster by 1,521.8% during the 2nd quarter. Invesco Ltd. now owns 571,662 shares of the company’s stock worth $13,863,000 after purchasing an additional 536,413 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Ouster during the first quarter worth about $8,915,000. Handelsbanken Fonder AB increased its position in shares of Ouster by 130.7% during the fourth quarter. Handelsbanken Fonder AB now owns 715,646 shares of the company’s stock valued at $15,479,000 after acquiring an additional 405,441 shares during the last quarter. Squarepoint Ops LLC raised its stake in shares of Ouster by 517.5% in the 4th quarter. Squarepoint Ops LLC now owns 401,727 shares of the company’s stock valued at $8,693,000 after acquiring an additional 336,673 shares during the period. Finally, Bastion Asset Management Inc. purchased a new stake in shares of Ouster in the 1st quarter valued at approximately $5,271,000. Hedge funds and other institutional investors own 31.45% of the company’s stock.

Wall Street Analysts Forecast Growth

OUST has been the subject of a number of research analyst reports. Roth Capital began coverage on shares of Ouster in a research report on Friday, May 29th. They set a “buy” rating and a $75.00 price objective for the company. Cantor Fitzgerald lowered Ouster from an “overweight” rating to a “neutral” rating in a research report on Thursday, May 7th. Weiss Ratings assumed coverage on Ouster in a research note on Friday, May 15th. They set a “sell (d-)” rating on the stock. Citigroup restated an “outperform” rating on shares of Ouster in a research report on Tuesday, July 21st. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $57.00 price objective (up from $42.00) on shares of Ouster in a research note on Wednesday, July 15th. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Ouster currently has an average rating of “Moderate Buy” and a consensus target price of $54.67.

Insider Transactions at Ouster

In related news, CEO Charles Angus Pacala sold 29,797 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $38.82, for a total transaction of $1,156,719.54. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Cyrille Jacquemet sold 10,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $35.00, for a total value of $350,000.00. Following the sale, the executive owned 132,590 shares in the company, valued at approximately $4,640,650. This trade represents a 7.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 744,754 shares of company stock valued at $28,929,859 in the last 90 days. Insiders own 5.72% of the company’s stock.

Ouster Stock Down 2.9%

Ouster stock opened at $42.13 on Tuesday. Ouster, Inc. has a 52-week low of $16.40 and a 52-week high of $63.79. The firm has a market cap of $2.65 billion, a PE ratio of -48.99 and a beta of 3.25. The company’s 50 day moving average is $42.74 and its two-hundred day moving average is $30.80.

Ouster (NASDAQ:OUST) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.26) 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 business had revenue of $54.63 million during the quarter, compared to analyst estimates of $51.47 million. On average, equities research analysts anticipate that Ouster, Inc. will post -1.03 earnings per share for the current fiscal year.

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.