Ouster (NASDAQ:OUST) Sets New 52-Week High – Should You Buy?

Ouster, Inc. (NASDAQ:OUST) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $54.49 and last traded at $54.07, with a volume of 10028296 shares trading hands. The stock had previously closed at $42.02.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on OUST. Rosenblatt Securities raised their target price on shares of Ouster from $40.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Oppenheimer reiterated an “outperform” rating and issued a $40.00 price target on shares of Ouster in a report on Tuesday, March 3rd. Weiss Ratings assumed coverage on Ouster in a research note on Friday, May 15th. They set a “sell (d-)” rating for the company. Cantor Fitzgerald downgraded Ouster from an “overweight” rating to a “neutral” rating in a report on Thursday, May 7th. Finally, Roth Mkm initiated coverage on Ouster in a research report on Friday, May 29th. They issued a “buy” rating and a $75.00 price objective on the stock. Four analysts have rated the stock with a Buy rating, two have given 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 “Hold” and a consensus price target of $48.17.

Ouster Stock Performance

The firm has a market capitalization of $3.40 billion, a PE ratio of -55.74 and a beta of 3.24. The firm’s 50 day moving average price is $36.41 and its 200-day moving average price is $26.97.

Ouster (NASDAQ:OUST) last announced its quarterly earnings results 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). The business had revenue of $48.58 million during the quarter, compared to analysts’ expectations of $46.15 million. Ouster had a negative net margin of 30.12% and a negative return on equity of 21.49%. During the same quarter in the prior year, the firm earned ($0.42) EPS. On average, equities research analysts expect that Ouster, Inc. will post -1.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Kenneth P. Gianella sold 54,337 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $38.82, for a total transaction of $2,109,362.34. Following the transaction, the chief financial officer owned 301,014 shares in the company, valued at $11,685,363.48. This trade represents a 15.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ted L. Tewksbury III sold 1,695 shares of Ouster stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $47.00, for a total transaction of $79,665.00. Following the completion of the sale, the director directly owned 124,999 shares in the company, valued at $5,874,953. This represents a 1.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 910,591 shares of company stock valued at $32,578,780 in the last 90 days. Corporate insiders own 5.72% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp lifted its stake in shares of Ouster by 17.1% in the 3rd quarter. Van ECK Associates Corp now owns 3,590 shares of the company’s stock valued at $97,000 after purchasing an additional 525 shares during the last quarter. Main Management ETF Advisors LLC increased its position in shares of Ouster by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 54,810 shares of the company’s stock worth $1,186,000 after purchasing an additional 560 shares during the last quarter. Corient Private Wealth LLC increased its position in shares of Ouster by 5.5% during the 2nd quarter. Corient Private Wealth LLC now owns 11,554 shares of the company’s stock worth $280,000 after purchasing an additional 599 shares during the last quarter. Prosperity Wealth Management Inc. raised its holdings in Ouster by 5.5% in the 3rd quarter. Prosperity Wealth Management Inc. now owns 13,000 shares of the company’s stock valued at $352,000 after buying an additional 675 shares during the period. Finally, Creative Planning raised its holdings in Ouster by 1.6% in the 3rd quarter. Creative Planning now owns 43,681 shares of the company’s stock valued at $1,182,000 after buying an additional 677 shares during the period. 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.