Bastion Asset Management Inc. Makes New Investment in Ouster, Inc. $OUST

Bastion Asset Management Inc. purchased a new stake in Ouster, Inc. (NASDAQ:OUST) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 274,101 shares of the company’s stock, valued at approximately $5,271,000. Bastion Asset Management Inc. owned 0.44% of Ouster as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. NewEdge Advisors LLC boosted 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 period. Larson Financial Group LLC lifted its stake in shares of Ouster by 118.8% in the fourth quarter. Larson Financial Group LLC now owns 1,965 shares of the company’s stock valued at $43,000 after buying an additional 1,067 shares during the period. SHP Wealth Management bought a new stake in shares of Ouster during the fourth quarter worth $96,000. Van ECK Associates Corp raised its position in shares of Ouster by 17.1% during the 3rd 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 during the last quarter. Finally, Global Retirement Partners LLC raised its position in shares of Ouster by 139.9% in the 4th 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 during the period. 31.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on OUST. Oppenheimer restated an “outperform” rating and issued a $57.00 target price (up from $42.00) on shares of Ouster in a research note on Wednesday. Cantor Fitzgerald downgraded 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 stock a “buy” rating in a research report on Wednesday, May 27th. Roth Capital assumed 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. Finally, Weiss Ratings started coverage on shares of Ouster in a report on Friday, May 15th. They set a “sell (d-)” rating for the company. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ouster has an average rating of “Hold” and a consensus target price of $51.00.

Insider Activity

In other Ouster news, 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 sale, the chief financial officer directly owned 301,014 shares of the company’s stock, valued at approximately $11,685,363.48. This represents a 15.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Mark Frichtl sold 308,742 shares of the stock in a transaction 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 owned 294,924 shares of the company’s stock, valued at approximately $12,248,193.72. This represents a 51.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 814,754 shares of company stock valued at $30,289,707 over the last three months. Corporate insiders own 5.72% of the company’s stock.

Ouster Stock Performance

OUST opened at $35.14 on Friday. Ouster, Inc. has a 52-week low of $16.40 and a 52-week high of $63.79. The firm has a market capitalization of $2.21 billion, a PE ratio of -36.23 and a beta of 3.17. The business’s 50-day simple moving average is $41.53 and its 200 day simple moving average is $29.14.

Ouster (NASDAQ:OUST) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.16). The company had revenue of $48.58 million during the quarter, compared to the consensus estimate 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 business earned ($0.42) earnings per share. On average, research analysts forecast that Ouster, Inc. will post -1.05 earnings per share for the current year.

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.