Ouster (NASDAQ:OUST) Trading Down 6.4% - Time to Sell?

Key Points

• Ouster shares fell 6.4% to about $40.26, with trading volume 78% below the average session volume. The stock has a $2.97 billion market capitalization and a high beta of 3.25.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $54.67, although Cantor Fitzgerald downgraded the stock to “Neutral” and Weiss Ratings maintained a “Sell” rating.
• Ouster’s latest quarterly results were mixed: revenue of $54.63 million exceeded estimates, but its $0.26 per-share loss was wider than expected. Insiders have sold 554,004 shares worth approximately $22.6 million over the past 90 days.

Shares of Ouster, Inc. (NASDAQ:OUST - Get Free Report) were down 6.4% during trading on Wednesday . The stock traded as low as $40.32 and last traded at $40.2560. 717,594 shares changed hands during trading, a decline of 78% from the average session volume of 3,273,558 shares. The stock had previously closed at $42.99.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Cantor Fitzgerald downgraded shares of Ouster from an "overweight" rating to a "neutral" rating in a research note on Thursday, May 7th. Rosenblatt Securities reissued a "buy" rating and issued a $53.00 price target on shares of Ouster in a report on Friday, August 7th. Oppenheimer restated an "outperform" rating and issued a $57.00 price objective (up from $42.00) on shares of Ouster in a research report on Wednesday, July 15th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Ouster in a research note on Wednesday, August 12th. Finally, Northland Securities set a $60.00 target price on Ouster and gave the stock an "outperform" rating in a report on Tuesday, July 21st. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $54.67.

Ouster Trading Down 4.3%

The firm has a market capitalization of $2.97 billion, a P/E ratio of -47.75 and a beta of 3.25. The business has a 50 day moving average of $43.14 and a 200-day moving average of $31.69.

Ouster (NASDAQ:OUST - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.26) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.14). Ouster had a negative net margin of 26.02% and a negative return on equity of 17.49%. The company had revenue of $54.63 million during the quarter, compared to the consensus estimate of $51.47 million. On average, analysts anticipate that Ouster, Inc. will post -1.08 EPS for the current fiscal year.

Insider Transactions at Ouster

In other Ouster news, CRO Cyrille Jacquemet sold 9,433 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $40.00, for a total transaction of $377,320.00. Following the completion of the transaction, the executive owned 123,158 shares in the company, valued at approximately $4,926,320. This represents a 7.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kenneth P. Gianella sold 54,337 shares of the stock in a transaction dated 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 transaction, the chief financial officer owned 301,014 shares of the company's stock, valued at approximately $11,685,363.48. This trade 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 sold 554,004 shares of company stock worth $22,582,192. Company insiders own 5.72% of the company's stock.

Institutional Investors Weigh In On Ouster

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System grew its stake in Ouster by 50.3% in the first quarter. California State Teachers Retirement System now owns 79,401 shares of the company's stock valued at $1,459,000 after purchasing an additional 26,574 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Ouster during the 1st quarter worth approximately $2,436,000. Dimensional Fund Advisors LP raised its stake in shares of Ouster by 7.2% during the 1st 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. Bastion Asset Management Inc. acquired a new stake in shares of Ouster in the 1st quarter valued at approximately $5,271,000. Finally, Janus Henderson Group PLC grew 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 valued at $3,268,000 after buying an additional 155,825 shares in the last quarter. Institutional investors and hedge funds own 31.45% of the company's stock.

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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