Ouster (NASDAQ:OUST) Stock Price Up 8.3% - Should You Buy?

Key Points

• Ouster shares rose 8.3% on Tuesday, trading as high as $37.91 after closing at $34.77 the prior session. Volume was well below average, with 666,409 shares traded versus a 3.29 million average.
• Analyst sentiment remains mixed but generally constructive: Rosenblatt and Roth Capital raised bullish price targets, while Cantor Fitzgerald downgraded the stock to neutral. Overall, Ouster has an average rating of Moderate Buy and a consensus price target of $51.00.
• The company recently reported a loss of $0.28 per share, wider than expected, though revenue of $48.58 million topped estimates. Insider selling has also been notable, with executives selling shares worth more than $28.5 million over the last 90 days.

Ouster, Inc. (NASDAQ:OUST - Get Free Report)'s share price was up 8.3% on Tuesday . The company traded as high as $37.91 and last traded at $37.65. 666,409 shares were traded during mid-day trading, a decline of 80% from the average session volume of 3,291,259 shares. The stock had previously closed at $34.77.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on OUST shares. Rosenblatt Securities boosted their price target on Ouster from $40.00 to $53.00 and gave the stock a "buy" rating in a research note on Wednesday, May 27th. Cantor Fitzgerald lowered shares of Ouster from an "overweight" rating to a "neutral" rating in a research report on Thursday, May 7th. Weiss Ratings assumed coverage on shares of Ouster in a research note on Friday, May 15th. They issued a "sell (d-)" rating for the company. Roth Capital assumed coverage on shares of Ouster in a research report on Friday, May 29th. They set a "buy" rating and a $75.00 target price on the stock. Finally, Citigroup reaffirmed an "outperform" rating on shares of Ouster in a report on Tuesday. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $51.00.

Ouster Stock Performance

The company has a 50 day simple moving average of $41.92 and a two-hundred day simple moving average of $29.34. The firm has a market cap of $2.46 billion, a PE ratio of -40.26 and a beta of 3.17.

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

Insider Activity at Ouster

In other Ouster news, 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 transaction of $12,822,055.26. Following the completion of the sale, the chief technology officer directly owned 294,924 shares in the company, valued at approximately $12,248,193.72. The trade was a 51.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Kenneth P. Gianella sold 54,337 shares of the company's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $38.82, for a total transaction of $2,109,362.34. Following the completion of the sale, the chief financial officer directly owned 301,014 shares in the company, valued at $11,685,363.48. This trade represents a 15.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 749,754 shares of company stock worth $28,554,907 in the last ninety days. 5.72% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ouster

Several hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC raised its stake in shares of Ouster by 2,532.6% during the 2nd quarter. NewEdge Advisors LLC now owns 1,132 shares of the company's stock valued at $27,000 after buying an additional 1,089 shares during the last quarter. Larson Financial Group LLC grew its holdings in Ouster by 118.8% during the fourth quarter. Larson Financial Group LLC now owns 1,965 shares of the company's stock worth $43,000 after acquiring an additional 1,067 shares during the period. SHP Wealth Management acquired a new stake in Ouster during the fourth quarter worth about $96,000. Van ECK Associates Corp raised its position in Ouster by 17.1% during the third quarter. Van ECK Associates Corp now owns 3,590 shares of the company's stock valued at $97,000 after acquiring an additional 525 shares in the last quarter. Finally, Global Retirement Partners LLC raised its position in Ouster by 139.9% during the fourth quarter. Global Retirement Partners LLC now owns 4,622 shares of the company's stock valued at $100,000 after acquiring an additional 2,695 shares in the last quarter. 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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