Ouster (NASDAQ:OUST) Stock Price Up 9.5% – Here’s What Happened

Ouster, Inc. (NASDAQ:OUST)’s stock price traded up 9.5% during mid-day trading on Thursday . The stock traded as high as $48.25 and last traded at $47.53. 4,434,960 shares traded hands during trading, an increase of 35% from the average session volume of 3,276,744 shares. The stock had previously closed at $43.41.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Rosenblatt Securities boosted their target price on Ouster from $40.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Roth Capital initiated coverage on Ouster in a research note on Friday, May 29th. They set a “buy” rating and a $75.00 price target for the company. Cantor Fitzgerald lowered Ouster from an “overweight” rating to a “neutral” rating in a report on Thursday, May 7th. Finally, Weiss Ratings assumed coverage on Ouster in a research note on Friday, May 15th. They issued a “sell (d-)” rating for the company. Four research 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’s stock. According to data from MarketBeat, Ouster has a consensus rating of “Hold” and an average price target of $48.17.

Ouster Stock Performance

The firm’s 50 day moving average is $39.83 and its 200-day moving average is $28.35. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of -49.00 and a beta of 3.17.

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

Insider Buying and Selling

In other news, 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 transaction of $79,665.00. Following the completion of the sale, the director owned 124,999 shares in the company, valued at approximately $5,874,953. This represents a 1.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Charles Angus Pacala sold 29,797 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $38.82, for a total value of $1,156,719.54. Following the sale, the chief executive officer owned 1,072,201 shares of the company’s stock, valued at approximately $41,622,842.82. This trade represents a 2.70% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 910,591 shares of company stock valued at $32,578,780. 5.72% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ouster

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC raised its position in shares of Ouster by 43.2% in the fourth quarter. SG Americas Securities LLC now owns 276,578 shares of the company’s stock valued at $5,985,000 after purchasing an additional 83,448 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Ouster by 514.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 185,198 shares of the company’s stock worth $5,010,000 after buying an additional 155,063 shares during the period. Algert Global LLC grew its stake in Ouster by 192.6% in the 3rd quarter. Algert Global LLC now owns 500,902 shares of the company’s stock valued at $13,549,000 after buying an additional 329,735 shares during the last quarter. UBS Group AG grew its stake in Ouster by 67.7% in the 4th quarter. UBS Group AG now owns 301,469 shares of the company’s stock valued at $6,524,000 after buying an additional 121,708 shares during the last quarter. Finally, Patten Group Inc. bought a new position in Ouster in the 1st quarter worth $212,000. 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.