Shares of Ouster, Inc. (NASDAQ:OUST – Get Free Report) shot up 15.6% on Tuesday . The stock traded as high as $63.79 and last traded at $62.52. Approximately 7,432,547 shares traded hands during mid-day trading, an increase of 137% from the average session volume of 3,139,451 shares. The stock had previously closed at $54.07.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on OUST. Weiss Ratings started coverage on Ouster in a research report on Friday, May 15th. They issued a “sell (d-)” rating on the stock. Cantor Fitzgerald lowered Ouster from an “overweight” rating to a “neutral” rating in a research note on Thursday, May 7th. Roth Mkm began coverage on Ouster in a report on Friday, May 29th. They issued a “buy” rating and a $75.00 price target on the stock. Rosenblatt Securities lifted their price objective on Ouster from $40.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $40.00 price objective on shares of Ouster in a research report on Tuesday, March 3rd. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $48.17.
Get Our Latest Analysis on OUST
Ouster Trading Up 15.6%
Ouster (NASDAQ:OUST – Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.28) EPS 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 analyst estimates 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 firm earned ($0.42) earnings per share. On average, equities analysts forecast that Ouster, Inc. will post -1.05 EPS for the current fiscal year.
Insider Buying and Selling
In other news, 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 directly owned 301,014 shares in the company, valued at approximately $11,685,363.48. The trade was a 15.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Mark Frichtl sold 308,742 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $41.53, for a total value of $12,822,055.26. Following the completion of the sale, the chief technology officer directly owned 294,924 shares of the company’s stock, valued at approximately $12,248,193.72. This trade represents a 51.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 910,591 shares of company stock worth $32,578,780 in the last ninety days. 5.72% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Ouster
Several large investors have recently bought and sold shares of the company. NewEdge Advisors LLC increased its stake 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 purchasing an additional 1,089 shares in the last quarter. Larson Financial Group LLC boosted its position in shares of Ouster by 118.8% during the fourth 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 in the last quarter. Gordian Capital Singapore Pte Ltd boosted its position in shares of Ouster by 38.1% during the third quarter. Gordian Capital Singapore Pte Ltd now owns 2,900 shares of the company’s stock worth $78,000 after purchasing an additional 800 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Ouster by 17.1% in the 3rd quarter. Van ECK Associates Corp now owns 3,590 shares of the company’s stock valued at $97,000 after buying an additional 525 shares during the period. Finally, Banque Cantonale Vaudoise acquired a new position in shares of Ouster in the 3rd quarter valued at $120,000. 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.
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