Ouster (NASDAQ:OUST) Stock Price Down 5.5% - Here's What Happened

Key Points

• Ouster shares fell 5.5% on Monday, trading as low as $35.05 after closing at $37.04, with volume well below average.
• Analyst sentiment remains mixed: several firms have raised targets or issued Buy ratings, but the consensus rating is still Hold with an average price target of $51.00.
• The company continues to post losses despite higher-than-expected revenue, and insiders have been selling shares, including the CEO and CRO, while hedge funds have been adding positions.

Shares of Ouster, Inc. (NASDAQ:OUST - Get Free Report) fell 5.5% during trading on Monday . The company traded as low as $35.05 and last traded at $34.9920. Approximately 1,272,118 shares were traded during mid-day trading, a decline of 61% from the average session volume of 3,292,623 shares. The stock had previously closed at $37.04.

Analysts Set New Price Targets

A number of research firms have recently issued reports on OUST. Rosenblatt Securities lifted their price objective on shares of Ouster from $40.00 to $53.00 and gave the stock a "buy" rating in a report on Wednesday, May 27th. Roth Capital started coverage on Ouster in a research note on Friday, May 29th. They issued a "buy" rating and a $75.00 target price on the stock. Cantor Fitzgerald lowered Ouster from an "overweight" rating to a "neutral" rating in a research note on Thursday, May 7th. Oppenheimer reiterated an "outperform" rating and issued a $57.00 price objective (up from $42.00) on shares of Ouster in a report on Wednesday, July 15th. Finally, Weiss Ratings started coverage on Ouster in a report on Friday, May 15th. They set a "sell (d-)" rating on the stock. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $51.00.

Ouster Stock Performance

The company has a market cap of $2.23 billion, a PE ratio of -36.79 and a beta of 3.17. The business's 50-day moving average is $41.76 and its 200 day moving average is $29.25.

Ouster (NASDAQ:OUST - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.16). Ouster had a negative net margin of 30.12% and a negative return on equity of 21.49%. The company had revenue of $48.58 million during the quarter, compared to the consensus estimate of $46.15 million. During the same quarter in the previous year, the firm posted ($0.42) EPS. Equities research analysts anticipate that Ouster, Inc. will post -1.03 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CRO Cyrille Jacquemet sold 10,000 shares of the business's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $35.00, for a total transaction of $350,000.00. Following the sale, the executive owned 132,590 shares of the company's stock, valued at $4,640,650. The trade was a 7.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Charles Angus Pacala sold 29,797 shares of the firm's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $38.82, for a total transaction of $1,156,719.54. Following the sale, the chief executive officer directly owned 1,072,201 shares in the company, valued at approximately $41,622,842.82. The trade was a 2.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 754,754 shares of company stock valued at $28,694,907 in the last 90 days. Corporate insiders own 5.72% of the company's stock.

Institutional Investors Weigh In On Ouster

Hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. grew its position in Ouster by 1,521.8% during the second quarter. Invesco Ltd. now owns 571,662 shares of the company's stock valued at $13,863,000 after buying an additional 536,413 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in shares of Ouster during the 1st quarter worth $8,915,000. Handelsbanken Fonder AB increased its stake in shares of Ouster by 130.7% in the 4th quarter. Handelsbanken Fonder AB now owns 715,646 shares of the company's stock worth $15,479,000 after purchasing an additional 405,441 shares in the last quarter. Squarepoint Ops LLC lifted its position in Ouster by 517.5% during the fourth quarter. Squarepoint Ops LLC now owns 401,727 shares of the company's stock valued at $8,693,000 after purchasing an additional 336,673 shares in the last quarter. Finally, Bastion Asset Management Inc. purchased a new position in Ouster during the first quarter valued at $5,271,000. 31.45% of the stock is currently owned by hedge funds and other institutional investors.

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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