Ouster (NASDAQ:OUST) Trading 9.1% Higher – Here’s Why

Ouster, Inc. (NASDAQ:OUST) shares were up 9.1% on Monday . The stock traded as high as $38.24 and last traded at $38.2310. Approximately 1,657,982 shares changed hands during trading, a decline of 47% from the average daily volume of 3,127,277 shares. The stock had previously closed at $35.05.

Analyst Upgrades and Downgrades

OUST has been the topic of a number of analyst reports. Rosenblatt Securities reiterated a “buy” rating and set a $53.00 price objective on shares of Ouster in a research note on Thursday, August 27th. Roth Capital started coverage on shares of Ouster in a research note on Friday, May 29th. They issued a “buy” rating and a $75.00 price target for the company. Citigroup reiterated an “outperform” rating on shares of Ouster in a research note on Tuesday, July 21st. Northland Securities set a $60.00 price target on Ouster and gave the company an “outperform” rating in a report on Tuesday, July 21st. Finally, Oppenheimer reissued 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. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Ouster has an average rating of “Moderate Buy” and an average price target of $54.67.

Ouster Price Performance

The company has a market cap of $2.80 billion, a P/E ratio of -45.18 and a beta of 3.25. The stock has a 50-day moving average of $38.27 and a 200 day moving average of $34.57.

Ouster (NASDAQ:OUST) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.14). The firm had revenue of $54.63 million for the quarter, compared to analyst estimates of $51.47 million. Ouster had a negative net margin of 26.02% and a negative return on equity of 17.49%. Sell-side analysts predict that Ouster, Inc. will post -1.07 EPS for the current year.

Insiders Place Their Bets

In other news, General Counsel Megan Chung sold 11,484 shares of the business’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $33.96, for a total transaction of $389,996.64. Following the completion of the sale, the general counsel directly owned 189,291 shares of the company’s stock, valued at $6,428,322.36. The trade was a 5.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Charles Pacala sold 30,385 shares of the firm’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $33.96, for a total transaction of $1,031,874.60. Following the transaction, the chief executive officer directly owned 1,041,816 shares in the company, valued at $35,380,071.36. The trade was a 2.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 173,037 shares of company stock valued at $6,720,238. 5.72% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Integrated Wealth Concepts LLC purchased a new position in shares of Ouster during the 2nd quarter valued at about $74,000. Allworth Financial LP lifted its holdings in Ouster by 40.3% during the second quarter. Allworth Financial LP now owns 1,190 shares of the company’s stock valued at $74,000 after purchasing an additional 342 shares in the last quarter. MCF Advisors LLC boosted its position in shares of Ouster by 34.4% in the second quarter. MCF Advisors LLC now owns 1,344 shares of the company’s stock worth $84,000 after purchasing an additional 344 shares during the period. Orion Capital Management LLC increased its stake in shares of Ouster by 195.7% in the second quarter. Orion Capital Management LLC now owns 1,511 shares of the company’s stock worth $94,000 after purchasing an additional 1,000 shares in the last quarter. Finally, IFP Advisors Inc raised its position in shares of Ouster by 780.7% during the 2nd quarter. IFP Advisors Inc now owns 1,647 shares of the company’s stock valued at $103,000 after purchasing an additional 1,460 shares during the period. Hedge funds and other institutional investors own 31.45% of the company’s stock.

About Ouster

Ouster, Inc develops lidar sensors and software used to help machines perceive and understand their surroundings. Its digital lidar technology measures distance and generates three-dimensional data for applications including industrial automation, robotics, intelligent transportation, infrastructure monitoring and automotive systems.

The company offers a portfolio of lidar sensors designed for different range, resolution and deployment requirements, along with software and perception tools that help customers interpret sensor data.