Ouster, Inc. (NASDAQ:OUST) Given Average Rating of “Hold” by Analysts

Ouster, Inc. (NASDAQ:OUST) has been assigned a consensus recommendation of “Hold” from the seven research firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $48.1667.

A number of brokerages have commented on OUST. Weiss Ratings began coverage on Ouster in a research note on Friday, May 15th. They issued a “sell (d-)” rating on the stock. Cantor Fitzgerald lowered Ouster from an “overweight” rating to a “neutral” rating in a report on Thursday, May 7th. Roth Capital began coverage on Ouster in a report on Friday, May 29th. They set a “buy” rating and a $75.00 price target for the company. Finally, Rosenblatt Securities boosted their price target on Ouster from $40.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th.

Insiders Place Their Bets

In other Ouster news, CFO Kenneth P. Gianella sold 54,337 shares of the firm’s stock in a transaction dated 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ted L. Tewksbury III sold 1,695 shares of the company’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $47.00, for a total value of $79,665.00. Following the sale, the director owned 124,999 shares of the company’s stock, valued at approximately $5,874,953. This trade represents a 1.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 870,591 shares of company stock worth $31,668,380 in the last 90 days. 5.72% of the stock is owned by corporate insiders.

Institutional Trading of Ouster

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its position in Ouster by 9.1% during the fourth quarter. Geode Capital Management LLC now owns 1,421,130 shares of the company’s stock worth $30,758,000 after acquiring an additional 118,132 shares during the period. Penn Capital Management Company LLC lifted its position in Ouster by 24.1% in the fourth quarter. Penn Capital Management Company LLC now owns 775,297 shares of the company’s stock worth $16,817,000 after purchasing an additional 150,337 shares during the period. Handelsbanken Fonder AB lifted its position in Ouster by 130.7% in the fourth quarter. Handelsbanken Fonder AB now owns 715,646 shares of the company’s stock worth $15,479,000 after purchasing an additional 405,441 shares during the period. 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 buying an additional 536,413 shares in the last quarter. Finally, Algert Global LLC boosted its stake in Ouster by 192.6% during the third quarter. Algert Global LLC now owns 500,902 shares of the company’s stock worth $13,549,000 after buying an additional 329,735 shares in the last quarter. Institutional investors and hedge funds own 31.45% of the company’s stock.

Ouster Stock Down 7.5%

OUST opened at $40.03 on Tuesday. The firm has a market capitalization of $2.51 billion, a P/E ratio of -41.27 and a beta of 3.17. The stock has a fifty day moving average of $40.88 and a 200-day moving average of $28.79. Ouster has a 12-month low of $16.40 and a 12-month high of $63.79.

Ouster (NASDAQ:OUST) last released its quarterly earnings data 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 company had revenue of $48.58 million during the quarter, compared to analyst estimates 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 company posted ($0.42) EPS. On average, analysts expect that Ouster will post -1.05 earnings per share for the current fiscal year.

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.