Ouster (NASDAQ:OUST) Shares Up 9.1% – Here’s What Happened

by · The Markets Daily

Ouster, Inc. (NASDAQ:OUSTGet Free Report)’s share price traded up 9.1% during trading on Monday . The company traded as high as $38.24 and last traded at $38.2310. 1,657,982 shares traded 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 subject of a number of research reports. Northland Securities set a $60.00 target price on shares of Ouster and gave the stock an “outperform” rating in a research report on Tuesday, July 21st. Citigroup reiterated an “outperform” rating on shares of Ouster in a research report on Tuesday, July 21st. Oppenheimer restated an “outperform” rating and issued a $57.00 target price (up from $42.00) on shares of Ouster in a report on Wednesday, July 15th. Roth Capital started coverage on shares of Ouster in a report on Friday, May 29th. They issued a “buy” rating and a $75.00 price target on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Ouster in a research note on Wednesday, August 12th. 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 company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $54.67.

Read Our Latest Report on Ouster

Ouster Trading Up 9.0%

The stock’s 50-day moving average is $38.34 and its 200-day moving average is $34.33. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of -44.42 and a beta of 3.25.

Ouster (NASDAQ:OUSTGet Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.14). Ouster had a negative net margin of 26.02% and a negative return on equity of 17.49%. The business had revenue of $54.63 million for the quarter, compared to analyst estimates of $51.47 million. On average, equities analysts predict that Ouster, Inc. will post -1.07 earnings per share for the current fiscal year.

Insider Activity

In related news, CTO Mark Frichtl sold 18,778 shares of the stock in a transaction on Monday, September 14th. The stock was sold at an average price of $33.96, for a total value of $637,700.88. Following the completion of the sale, the chief technology officer directly owned 318,987 shares in the company, valued at approximately $10,832,798.52. This represents a 5.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Megan Chung sold 11,484 shares of the business’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $33.96, for a total value of $389,996.64. Following the transaction, the general counsel owned 189,291 shares in the company, valued at approximately $6,428,322.36. This represents a 5.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 173,037 shares of company stock worth $6,720,238 in the last quarter. Insiders own 5.72% of the company’s stock.

Institutional Investors Weigh In On Ouster

A number of large investors have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC acquired a new position in Ouster in the 2nd quarter worth $74,000. Allworth Financial LP boosted its holdings in Ouster by 40.3% in 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 during the last quarter. MCF Advisors LLC increased its holdings in Ouster by 34.4% during the 2nd 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 last quarter. Orion Capital Management LLC raised its position in shares of Ouster by 195.7% in the 2nd quarter. Orion Capital Management LLC now owns 1,511 shares of the company’s stock valued at $94,000 after purchasing an additional 1,000 shares in the last quarter. Finally, IFP Advisors Inc grew its position in shares of Ouster by 780.7% during the second quarter. IFP Advisors Inc now owns 1,647 shares of the company’s stock worth $103,000 after buying an additional 1,460 shares in the last quarter. 31.45% of the stock is owned by institutional investors and hedge funds.

Ouster Company Profile

(Get Free Report)

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.

Further Reading