Ouster, Inc. (NASDAQ:OUST – Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $39.01, but opened at $37.26. Ouster shares last traded at $41.5250, with a volume of 1,170,187 shares changing hands.
Wall Street Analysts Forecast Growth
Several research analysts have recently commented on OUST shares. Roth Capital assumed coverage on Ouster in a research report on Friday, May 29th. They set a “buy” rating and a $75.00 price target for the company. Oppenheimer reissued an “outperform” rating and set a $57.00 price target (up from $42.00) on shares of Ouster in a research report on Wednesday, July 15th. Citigroup reissued an “outperform” rating on shares of Ouster in a research report on Tuesday, July 21st. Northland Securities set a $60.00 target price on shares of Ouster and gave the company an “outperform” rating in a research note on Tuesday, July 21st. Finally, Rosenblatt Securities lifted their price target on Ouster from $40.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Six equities research 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. Based on data from MarketBeat, Ouster currently has an average rating of “Moderate Buy” and an average price target of $54.67.
Get Our Latest Stock Report on Ouster
Ouster Stock Performance
Ouster (NASDAQ:OUST – Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.16). Ouster had a negative net margin of 30.12% and a negative return on equity of 21.49%. The company had revenue of $48.58 million for the quarter, compared to analysts’ expectations of $46.15 million. During the same quarter in the prior year, the firm earned ($0.42) earnings per share. On average, research analysts anticipate that Ouster, Inc. will post -1.03 EPS for the current fiscal year.
Insider Buying and Selling at Ouster
In other news, CRO Cyrille Jacquemet sold 9,433 shares of Ouster stock in a transaction that occurred on 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 approximately $4,926,320. This trade represents a 7.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ted L. Tewksbury III sold 1,695 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $47.00, for a total value of $79,665.00. Following the sale, the director owned 124,999 shares in the company, valued at approximately $5,874,953. This represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 728,205 shares of company stock valued at $27,905,687 over the last quarter. Company insiders own 5.72% of the company’s stock.
Institutional Investors Weigh In On Ouster
Institutional investors have recently bought and sold shares of the business. Invesco Ltd. increased its holdings in Ouster by 1,521.8% in the 2nd quarter. Invesco Ltd. now owns 571,662 shares of the company’s stock valued at $13,863,000 after buying an additional 536,413 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Ouster during the 1st quarter valued at about $8,915,000. Handelsbanken Fonder AB increased its stake in Ouster by 130.7% in 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 period. Squarepoint Ops LLC increased its stake in Ouster by 517.5% in the fourth 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. acquired a new position in Ouster in the first quarter worth about $5,271,000. Institutional investors and hedge funds 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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