Shares of Ouster, Inc. (NASDAQ:OUST – Get Free Report) were down 9.8% on Wednesday . The stock traded as low as $39.00 and last traded at $40.7210. Approximately 5,103,936 shares changed hands during mid-day trading, an increase of 69% from the average daily volume of 3,018,930 shares. The stock had previously closed at $45.16.
Analysts Set New Price Targets
Several research firms have recently commented on OUST. Cantor Fitzgerald cut Ouster from an “overweight” rating to a “neutral” rating in a research note on Thursday, May 7th. Oppenheimer reaffirmed an “outperform” rating and set a $40.00 price target on shares of Ouster in a report on Tuesday, March 3rd. Roth Mkm initiated coverage on shares of Ouster in a research note on Friday, May 29th. They issued a “buy” rating and a $75.00 price objective on the stock. Rosenblatt Securities upped their price objective on shares of Ouster from $40.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Finally, Weiss Ratings initiated coverage on shares of Ouster in a research note on Friday, May 15th. They issued a “sell (d-)” rating for the company. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Ouster currently has a consensus rating of “Hold” and a consensus target price of $48.17.
Check Out Our Latest Report on Ouster
Ouster Stock Performance
Ouster (NASDAQ:OUST – Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.16). The business 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 period last year, the company posted ($0.42) earnings per share. As a group, equities research analysts forecast that Ouster, Inc. will post -1.05 EPS for the current year.
Insiders Place Their Bets
In other Ouster news, CEO Charles Angus Pacala sold 29,797 shares of the firm’s 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 owned 1,072,201 shares of the company’s stock, valued at approximately $41,622,842.82. This trade represents a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Darien Spencer sold 30,000 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $45.00, for a total transaction of $1,350,000.00. Following the sale, the chief operating officer owned 342,366 shares in the company, valued at $15,406,470. The trade was a 8.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 910,591 shares of company stock worth $32,578,780. 5.72% of the stock is owned by insiders.
Institutional Trading of Ouster
A number of institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC increased its holdings in Ouster by 2,532.6% in the second quarter. NewEdge Advisors LLC now owns 1,132 shares of the company’s stock valued at $27,000 after buying an additional 1,089 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of Ouster by 118.8% during the 4th quarter. Larson Financial Group LLC now owns 1,965 shares of the company’s stock valued at $43,000 after acquiring an additional 1,067 shares during the period. Gordian Capital Singapore Pte Ltd boosted its stake in shares of Ouster by 38.1% during the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 2,900 shares of the company’s stock worth $78,000 after acquiring an additional 800 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Ouster by 17.1% during the 3rd quarter. Van ECK Associates Corp now owns 3,590 shares of the company’s stock worth $97,000 after acquiring an additional 525 shares in the last quarter. Finally, Banque Cantonale Vaudoise acquired a new stake in shares of Ouster in the 3rd quarter worth approximately $120,000. Hedge funds and other 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.
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