Ouster (NASDAQ:OUST) Shares Up 9.9% - Time to Buy?

Key Points

• Ouster shares jumped 9.9% to approximately $46.29, though trading volume was well below average. The stock has a $2.88 billion market capitalization and trades significantly above its 50-day and 200-day moving averages.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $54.67. Recent targets range from $57 to $75, although Cantor Fitzgerald downgraded the stock to “neutral.”
• The company exceeded revenue expectations with quarterly revenue of $54.63 million but missed EPS estimates, reporting a $0.26 loss per share versus the expected $0.12 loss. Insiders have sold roughly 744,754 shares worth $28.9 million over the past 90 days.

Ouster, Inc. (NASDAQ:OUST - Get Free Report) shot up 9.9% during mid-day trading on Tuesday . The stock traded as high as $45.36 and last traded at $46.2850. 493,276 shares were traded during trading, a decline of 85% from the average session volume of 3,272,258 shares. The stock had previously closed at $42.13.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Oppenheimer reiterated an "outperform" rating and set a $57.00 price objective (up from $42.00) on shares of Ouster in a research report on Wednesday, July 15th. Cantor Fitzgerald lowered shares of Ouster from an "overweight" rating to a "neutral" rating in a report on Thursday, May 7th. Citigroup restated an "outperform" rating on shares of Ouster in a research report on Tuesday, July 21st. Northland Securities set a $60.00 price objective on shares of Ouster and gave the stock an "outperform" rating in a research note on Tuesday, July 21st. Finally, Roth Capital assumed coverage on Ouster in a research report on Friday, May 29th. They set a "buy" rating and a $75.00 target price for the company. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.67.

Ouster Trading Up 8.8%

The business has a fifty day simple moving average of $42.74 and a 200 day simple moving average of $30.80. The stock has a market capitalization of $2.88 billion, a P/E ratio of -53.45 and a beta of 3.25.

Ouster (NASDAQ:OUST - Get Free Report) last posted its 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 return on equity of 17.49% and a negative net margin of 26.02%.The firm had revenue of $54.63 million during the quarter, compared to the consensus estimate of $51.47 million. As a group, research analysts forecast that Ouster, Inc. will post -1.03 earnings per share for the current year.

Insider Transactions at Ouster

In related news, COO Darien Spencer sold 30,000 shares of Ouster stock in a transaction 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 sale, the chief operating officer directly owned 299,806 shares in the company, valued at approximately $13,491,270. This trade represents a 9.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kenneth P. Gianella sold 54,337 shares of the business's stock in a transaction on 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 completion of the transaction, the chief financial officer directly owned 301,014 shares in the company, valued at approximately $11,685,363.48. This 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 have sold 744,754 shares of company stock worth $28,929,859. Company insiders own 5.72% of the company's stock.

Hedge Funds Weigh In On Ouster

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC purchased a new stake in Ouster in the 1st quarter worth about $2,436,000. Bastion Asset Management Inc. bought a new position in Ouster during the first quarter worth about $5,271,000. Dimensional Fund Advisors LP increased its stake in shares of Ouster by 7.2% in the first 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. Janus Henderson Group PLC increased 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 worth $3,268,000 after purchasing an additional 155,825 shares in the last quarter. Finally, Sei Investments Co. raised its position in shares of Ouster by 87.8% in the first quarter. Sei Investments Co. now owns 193,818 shares of the company's stock valued at $3,560,000 after purchasing an additional 90,597 shares during the period. 31.45% of the stock is owned by hedge funds and other institutional investors.

About Ouster

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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