Ranger Investment Management L.P. Buys New Position in Ouster, Inc. $OUST

Key Points

• Ranger Investment Management initiated a position in Ouster by purchasing 77,190 shares worth approximately $4.83 million, while institutional investors collectively own 31.45% of the company.
• Ouster reported quarterly revenue of $54.63 million, above analyst expectations, but its loss of $0.26 per share significantly exceeded the expected loss of $0.12.
• Analyst sentiment remains generally positive, with a “Moderate Buy” consensus and an average price target of $54.67, although insiders sold more than 509,000 shares worth approximately $21.3 million over the past three months.

Ranger Investment Management L.P. bought a new stake in Ouster, Inc. (NASDAQ:OUST - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 77,190 shares of the company's stock, valued at approximately $4,826,000. Ranger Investment Management L.P. owned approximately 0.12% of Ouster at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp purchased a new position in shares of Ouster in the second quarter valued at approximately $11,192,000. Wealthcare Advisory Partners LLC acquired a new position in shares of Ouster in the second quarter valued at approximately $230,000. FNY Investment Advisers LLC purchased a new stake in Ouster during the 2nd quarter worth approximately $150,000. Fermata Advisors LLC purchased a new stake in Ouster during the 2nd quarter worth approximately $239,000. Finally, GK Wealth Management LLC acquired a new stake in Ouster during the 2nd quarter worth approximately $281,000. Institutional investors and hedge funds own 31.45% of the company's stock.

Ouster Stock Performance

Shares of OUST opened at $38.42 on Monday. The firm has a market capitalization of $2.77 billion, a price-to-earnings ratio of -44.67 and a beta of 3.25. The firm's fifty day simple moving average is $43.12 and its 200-day simple moving average is $32.06. Ouster, Inc. has a twelve month low of $16.40 and a twelve month high of $63.79.

Ouster (NASDAQ:OUST - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.26) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.14). Ouster had a negative return on equity of 17.49% and a negative net margin of 26.02%.The firm had revenue of $54.63 million for the quarter, compared to analyst estimates of $51.47 million. On average, analysts predict that Ouster, Inc. will post -1.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on OUST shares. Roth Capital assumed coverage on shares of Ouster in a research report on Friday, May 29th. They issued a "buy" rating and a $75.00 price target for the company. Oppenheimer reiterated an "outperform" rating and issued a $57.00 price objective (up from $42.00) on shares of Ouster in a research note on Wednesday, July 15th. Northland Securities set a $60.00 target price on Ouster and gave the company an "outperform" rating in a report on Tuesday, July 21st. Weiss Ratings reissued a "sell (d-)" rating on shares of Ouster in a research note on Wednesday, August 12th. Finally, Rosenblatt Securities restated a "buy" rating and set a $53.00 price target on shares of Ouster in a report on Friday, August 7th. 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 stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $54.67.

Insider Activity at Ouster

In other Ouster news, COO Darien Spencer sold 30,000 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $45.00, for a total value of $1,350,000.00. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Stephen A. Skaggs sold 3,614 shares of the stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $45.18, for a total transaction of $163,280.52. Following the completion of the transaction, the director directly owned 61,415 shares in the company, valued at $2,774,729.70. This trade represents a 5.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 509,004 shares of company stock worth $21,286,024 over the last three months. Company insiders own 5.72% 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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