Ouster, Inc. (NASDAQ:OUST) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• Analysts maintain a “Moderate Buy” consensus on Ouster, with six buy ratings, two holds and one sell. The average 12-month price target is $54.67, above the reported $35.05 share price.
• Ouster’s latest quarterly results were mixed: revenue of $54.63 million exceeded expectations, but adjusted EPS of -$0.26 missed the consensus estimate of -$0.12. Analysts expect a full-year loss of approximately $1.07 per share.
• Insiders have been selling shares, including the CEO and COO; insiders sold 174,732 shares worth about $6.8 million over the past three months. Institutional investors own approximately 31.45% of the company.

Shares of Ouster, Inc. (NASDAQ:OUST - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the nine ratings firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $54.6667.

A number of equities research analysts have commented on OUST shares. Roth Capital initiated coverage on Ouster in a report on Friday, May 29th. They set a "buy" rating and a $75.00 target price on the stock. Northland Securities set a $60.00 price target on Ouster and gave the stock an "outperform" rating in a report on Tuesday, July 21st. Rosenblatt Securities restated a "buy" rating and issued a $53.00 price objective on shares of Ouster in a research report on Thursday, August 27th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Ouster in a research report on Wednesday, August 12th. Finally, Citigroup reissued an "outperform" rating on shares of Ouster in a research note on Tuesday, July 21st.

Ouster Stock Performance

OUST opened at $35.05 on Friday. The company has a market cap of $2.53 billion, a price-to-earnings ratio of -40.76 and a beta of 3.25. Ouster has a one year low of $16.40 and a one year high of $63.79. The business's fifty day moving average is $38.34 and its two-hundred day moving average is $34.23.

Ouster (NASDAQ:OUST - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $54.63 million during the quarter, compared to analysts' expectations of $51.47 million. On average, analysts predict that Ouster will post -1.07 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Charles Pacala sold 30,385 shares of the company's stock in a transaction on Monday, September 14th. The stock was sold at an average price of $33.96, for a total value of $1,031,874.60. Following the completion of the transaction, the chief executive officer directly owned 1,041,816 shares in the company, valued at approximately $35,380,071.36. This represents a 2.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Darien Spencer sold 30,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $45.00, for a total transaction of $1,350,000.00. Following the completion of the sale, the chief operating officer directly owned 299,806 shares in the company, valued at $13,491,270. This represents a 9.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 174,732 shares of company stock worth $6,799,903 in the last three months. 5.72% of the stock is currently owned by insiders.

Institutional Trading of Ouster

Several institutional investors have recently made changes to their positions in the stock. Allworth Financial LP raised its holdings in shares of Ouster by 40.3% in the 2nd quarter. Allworth Financial LP now owns 1,190 shares of the company's stock worth $74,000 after purchasing an additional 342 shares during the period. MCF Advisors LLC increased its position in Ouster by 34.4% during the 2nd quarter. MCF Advisors LLC now owns 1,344 shares of the company's stock worth $84,000 after purchasing an additional 344 shares in the last quarter. Arizona State Retirement System raised its holdings in Ouster by 2.4% in the second quarter. Arizona State Retirement System now owns 16,030 shares of the company's stock valued at $1,002,000 after buying an additional 373 shares during the period. Main Management ETF Advisors LLC raised its holdings in Ouster by 1.0% in the fourth quarter. Main Management ETF Advisors LLC now owns 54,810 shares of the company's stock valued at $1,186,000 after buying an additional 560 shares during the period. Finally, Intrua Financial LLC lifted its position in Ouster by 4.9% during the first quarter. Intrua Financial LLC now owns 20,924 shares of the company's stock valued at $384,000 after buying an additional 973 shares in the last quarter. 31.45% of the stock is owned by hedge funds and other institutional investors.

Ouster Company Profile

Ouster, Inc develops lidar sensors and software used to help machines perceive and understand their surroundings. Its digital lidar technology measures distance and generates three-dimensional data for applications including industrial automation, robotics, intelligent transportation, infrastructure monitoring and automotive systems.

The company offers a portfolio of lidar sensors designed for different range, resolution and deployment requirements, along with software and perception tools that help customers interpret sensor data.

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