Ouster (NYSE:OUST) Issues Earnings Results

Ouster (NYSE:OUST - Get Free Report) announced its quarterly earnings data on Thursday. The company reported ($0.55) earnings per share for the quarter, Zacks reports. The business had revenue of $25.94 million for the quarter. Ouster had a negative net margin of 449.23% and a negative return on equity of 106.16%. During the same period in the previous year, the company posted ($3.36) earnings per share. Ouster updated its Q2 2024 guidance to EPS.

Ouster Price Performance

Shares of NYSE OUST traded up $2.01 during mid-day trading on Friday, hitting $12.36. 4,756,366 shares of the stock were exchanged, compared to its average volume of 1,148,172. Ouster has a twelve month low of $3.67 and a twelve month high of $14.17. The stock's fifty day simple moving average is $7.36 and its two-hundred day simple moving average is $6.27. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.94 and a current ratio of 3.22. The company has a market cap of $502.68 million, a P/E ratio of -1.16 and a beta of 2.40.

Analysts Set New Price Targets

A number of brokerages have issued reports on OUST. Cantor Fitzgerald reiterated an "overweight" rating and set a $8.00 price target on shares of Ouster in a research report on Thursday, March 28th. Rosenblatt Securities boosted their price target on shares of Ouster from $12.00 to $17.00 and gave the stock a "buy" rating in a research report on Friday. Chardan Capital reiterated a "neutral" rating and set a $10.00 price objective on shares of Ouster in a research note on Wednesday, April 3rd. Finally, Craig Hallum raised their price objective on shares of Ouster from $10.00 to $13.00 and gave the company a "buy" rating in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $11.10.

Insider Buying and Selling at Ouster

In related news, CFO Mark Weinswig sold 19,990 shares of the firm's stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $9.35, for a total value of $186,906.50. Following the transaction, the chief financial officer now owns 236,800 shares in the company, valued at $2,214,080. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, General Counsel Megan Chung sold 5,776 shares of the business's stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $7.96, for a total transaction of $45,976.96. Following the completion of the transaction, the general counsel now directly owns 163,966 shares in the company, valued at approximately $1,305,169.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark Weinswig sold 19,990 shares of Ouster stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $9.35, for a total transaction of $186,906.50. Following the transaction, the chief financial officer now directly owns 236,800 shares in the company, valued at approximately $2,214,080. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,986 shares of company stock worth $290,359. 6.00% of the stock is currently owned by corporate insiders.

Ouster Company Profile

Ouster, Inc provides lidar sensors for the automotive, industrial, robotics, and smart infrastructure industries in Americas, the Asia-Pacific, Europe, the Middle East, and Africa. Its products include high-resolution scanning and solid-state digital lidar sensors, analog lidar sensors, and software solutions.