CenterBook Partners LP Purchases New Stake in Ouster, Inc. $OUST

Key Points

• CenterBook Partners opened a position in Ouster, buying 63,447 shares worth about $2.56 million, or roughly 0.09% of the company.
• Analyst sentiment is generally positive: six analysts rate Ouster a Buy and one a Sell, producing a “Moderate Buy” consensus and an average price target of $58.
• Ouster’s latest quarterly revenue of $59.33 million exceeded estimates, but its loss of $0.20 per share was wider than analysts expected.

CenterBook Partners LP acquired a new stake in Ouster, Inc. (NASDAQ:OUST - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 63,447 shares of the company's stock, valued at approximately $2,559,000. CenterBook Partners LP owned about 0.09% of Ouster at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in Ouster by 31.0% during the third quarter. GAMMA Investing LLC now owns 1,441 shares of the company's stock worth $58,000 after purchasing an additional 341 shares during the last quarter. Allworth Financial LP increased its stake in shares of Ouster by 40.3% in the 2nd quarter. Allworth Financial LP now owns 1,190 shares of the company's stock valued at $74,000 after purchasing an additional 342 shares during the last quarter. MCF Advisors LLC raised its holdings in shares of 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 buying an additional 344 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Ouster by 2.4% during the 2nd quarter. Arizona State Retirement System now owns 16,030 shares of the company's stock worth $1,002,000 after buying an additional 373 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in shares of Ouster by 83.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 895 shares of the company's stock worth $36,000 after buying an additional 407 shares in the last quarter. 31.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on OUST. Oppenheimer restated an "outperform" rating on shares of Ouster in a research report on Wednesday. Rosenblatt Securities reiterated a "buy" rating and issued a $53.00 target price on shares of Ouster in a research report on Wednesday, November 4th. Citigroup reissued an "outperform" rating on shares of Ouster in a research note on Tuesday, July 21st. Northland Securities set a $60.00 target price on Ouster and gave the stock an "outperform" rating in a research note on Tuesday, July 21st. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Ouster in a report on Wednesday, August 12th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $58.00.

Ouster Stock Performance

Ouster stock opened at $34.79 on Monday. The company has a market capitalization of $2.51 billion, a PE ratio of -50.42 and a beta of 3.47. Ouster, Inc. has a 12 month low of $16.40 and a 12 month high of $63.79. The stock has a 50-day moving average price of $35.36 and a two-hundred day moving average price of $32.54.

Ouster (NASDAQ:OUST - Get Free Report) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.20) EPS for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.12). The firm had revenue of $59.33 million for the quarter, compared to analyst estimates of $56.30 million. Ouster had a negative net margin of 20.36% and a negative return on equity of 11.70%. As a group, analysts predict that Ouster, Inc. will post -0.97 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Ouster news, COO Darien Spencer sold 12,808 shares of the business's stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $33.96, for a total transaction of $434,959.68. Following the sale, the chief operating officer directly owned 286,998 shares of the company's stock, valued at $9,746,452.08. The trade was a 4.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Mark Frichtl sold 18,778 shares of the business's stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $33.96, for a total transaction of $637,700.88. Following the sale, the chief technology officer directly owned 318,987 shares in the company, valued at $10,832,798.52. The trade was a 5.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 138,037 shares of company stock worth $5,142,537 over the last quarter. 5.72% of the stock is currently owned by corporate insiders.

Ouster Company Profile

Ouster, Inc is a technology company that develops and manufactures digital lidar sensors and related software. Its lidar systems use laser light to detect and measure surrounding objects, supporting applications that require real-time perception, mapping, and automation.

The company's products are designed for customers in the automotive, industrial automation, robotics, infrastructure, mapping, security, and smart-city markets. Ouster provides lidar sensors for uses such as autonomous and assisted driving, warehouse and industrial operations, traffic monitoring, asset inspection, and other machine-perception applications.

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