Ouster (NASDAQ:OUST) Stock Price Up 4.8% - Here's What Happened

Key Points

• Ouster shares rose 4.8% in Tuesday trading, reaching as high as $43.29 before settling near $41.97. Trading volume was below average, with about 2.45 million shares changing hands.
• Analyst opinions were mixed: Roth Capital and Rosenblatt issued bullish ratings and higher price targets, while Cantor Fitzgerald downgraded the stock and Weiss Ratings started coverage with a sell rating. The overall consensus from MarketBeat is currently Hold with an average price target of $48.17.
• Insider selling and recent financial results remain notable, with executives selling significant shares over the past 90 days, including the CTO and CRO. Ouster’s latest earnings missed EPS expectations despite revenue coming in above forecasts.

Ouster, Inc. (NASDAQ:OUST - Get Free Report)'s share price was up 4.8% during mid-day trading on Tuesday . The stock traded as high as $43.29 and last traded at $41.97. Approximately 2,447,779 shares traded hands during mid-day trading, a decline of 25% from the average daily volume of 3,272,229 shares. The stock had previously closed at $40.03.

Analyst Ratings Changes

A number of research firms recently commented on OUST. Cantor Fitzgerald lowered shares of Ouster from an "overweight" rating to a "neutral" rating in a report on Thursday, May 7th. Rosenblatt Securities boosted their price objective on shares of Ouster from $40.00 to $53.00 and gave the company a "buy" rating in a research report on Wednesday, May 27th. Weiss Ratings began coverage on shares of Ouster in a research note on Friday, May 15th. They set a "sell (d-)" rating for the company. Finally, Roth Capital began coverage on shares of Ouster in a report on Friday, May 29th. They set a "buy" rating and a $75.00 target price for the company. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $48.17.

Ouster Stock Performance

The firm has a market capitalization of $2.64 billion, a PE ratio of -43.27 and a beta of 3.17. The stock's 50-day simple moving average is $40.88 and its 200-day simple moving average is $28.79.

Ouster (NASDAQ:OUST - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.16). Ouster had a negative return on equity of 21.49% and a negative net margin of 30.12%.The company had revenue of $48.58 million during the quarter, compared to analysts' expectations of $46.15 million. During the same period in the prior year, the business posted ($0.42) earnings per share. As a group, analysts predict that Ouster, Inc. will post -1.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CRO Cyrille Jacquemet sold 9,433 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $40.00, for a total value of $377,320.00. Following the completion of the transaction, the executive owned 123,158 shares of the company's stock, valued at approximately $4,926,320. This represents a 7.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Mark Frichtl sold 308,742 shares of Ouster stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $41.53, for a total value of $12,822,055.26. Following the sale, the chief technology officer owned 294,924 shares in the company, valued at $12,248,193.72. This represents a 51.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 870,591 shares of company stock valued at $31,668,380 over the last ninety days. 5.72% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ouster

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its position in shares of Ouster by 610.1% in the 1st quarter. AQR Capital Management LLC now owns 296,311 shares of the company's stock worth $2,661,000 after buying an additional 254,580 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Ouster by 7.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,344 shares of the company's stock valued at $255,000 after acquiring an additional 2,037 shares during the period. Legal & General Group Plc lifted its position in Ouster by 138.2% during the 2nd quarter. Legal & General Group Plc now owns 9,990 shares of the company's stock valued at $242,000 after acquiring an additional 5,796 shares during the period. American Century Companies Inc. boosted its stake in Ouster by 22.0% during the second quarter. American Century Companies Inc. now owns 63,298 shares of the company's stock worth $1,535,000 after acquiring an additional 11,416 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Ouster by 1,521.8% during the second quarter. Invesco Ltd. now owns 571,662 shares of the company's stock worth $13,863,000 after acquiring an additional 536,413 shares in the last quarter. Hedge funds and other institutional investors own 31.45% of the company's stock.

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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