Shares of Ouster, Inc. (NASDAQ:OUST – Get Free Report) were down 6.4% during trading on Wednesday . The stock traded as low as $40.32 and last traded at $40.2560. 717,594 shares changed hands during trading, a decline of 78% from the average session volume of 3,273,558 shares. The stock had previously closed at $42.99.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on the stock. Cantor Fitzgerald downgraded shares of Ouster from an “overweight” rating to a “neutral” rating in a research note on Thursday, May 7th. Rosenblatt Securities reissued a “buy” rating and issued a $53.00 price target on shares of Ouster in a report on Friday, August 7th. Oppenheimer restated an “outperform” rating and issued a $57.00 price objective (up from $42.00) on shares of Ouster in a research report on Wednesday, July 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ouster in a research note on Wednesday, August 12th. Finally, Northland Securities set a $60.00 target price on Ouster and gave the stock an “outperform” rating in a report on Tuesday, July 21st. Six 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $54.67.
Read Our Latest Analysis on Ouster
Ouster Trading Down 4.3%
Ouster (NASDAQ:OUST – Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.14). Ouster had a negative net margin of 26.02% and a negative return on equity of 17.49%. The company had revenue of $54.63 million during the quarter, compared to the consensus estimate of $51.47 million. On average, analysts anticipate that Ouster, Inc. will post -1.08 EPS for the current fiscal year.
Insider Transactions at Ouster
In other Ouster news, CRO Cyrille Jacquemet sold 9,433 shares of the 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 completion of the transaction, the executive owned 123,158 shares in the company, valued at approximately $4,926,320. This represents a 7.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kenneth P. Gianella sold 54,337 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $38.82, for a total value of $2,109,362.34. Following the transaction, the chief financial officer owned 301,014 shares of the company’s stock, valued at approximately $11,685,363.48. This trade represents a 15.29% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 554,004 shares of company stock worth $22,582,192. Company insiders own 5.72% of the company’s stock.
Institutional Investors Weigh In On Ouster
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System grew its stake in Ouster by 50.3% in the first quarter. California State Teachers Retirement System now owns 79,401 shares of the company’s stock valued at $1,459,000 after purchasing an additional 26,574 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Ouster during the 1st quarter worth approximately $2,436,000. Dimensional Fund Advisors LP raised its stake in shares of Ouster by 7.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 483,871 shares of the company’s stock worth $8,889,000 after purchasing an additional 32,440 shares in the last quarter. Bastion Asset Management Inc. acquired a new stake in shares of Ouster in the 1st quarter valued at approximately $5,271,000. Finally, Janus Henderson Group PLC grew its stake in shares of Ouster by 706.0% in the first quarter. Janus Henderson Group PLC now owns 177,895 shares of the company’s stock valued at $3,268,000 after buying an additional 155,825 shares in the last quarter. Institutional investors and hedge funds 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.
Recommended Stories
- Five stocks we like better than Ouster
- Okta’s AI Tailwind Could Put This Forgotten Software Stock Back in Play
- Datavault AI Locks Down CyberCatch in $94M Security Rollup
- Quantum Stocks Are Starting to Choose Sides: Should Investors Do the Same?
- AeroVironment Hit a Bottom in Q2—Can It Take Flight in Q3?
Receive News & Ratings for Ouster Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ouster and related companies with MarketBeat.com's FREE daily email newsletter.
