Key Points
- Ouster Director Stephen Skaggs sold 5,000 shares for $170,000 at an average price of $34; he retained 56,415 shares after the sale.
- In its latest quarter, Ouster reported a $0.20 per-share loss, wider than analysts’ expected $0.08 loss, while revenue of $59.33 million beat the $56.30 million consensus.
- Analyst sentiment was mostly positive: six analysts rated Ouster a Buy and one a Sell, for an average “Moderate Buy” rating and a $58 price target.
Ouster, Inc. (NASDAQ:OUST - Get Free Report) Director Stephen Skaggs sold 5,000 shares of the stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $34.00, for a total value of $170,000.00. Following the transaction, the director directly owned 56,415 shares in the company, valued at approximately $1,918,110. This represents a 8.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Ouster Stock Performance
Shares of OUST stock opened at $38.22 on Wednesday. The stock's 50 day simple moving average is $35.52 and its 200 day simple moving average is $32.66. Ouster, Inc. has a twelve month low of $16.40 and a twelve month high of $63.79. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of -55.39 and a beta of 3.47.
Ouster (NASDAQ:OUST - Get Free Report) last announced its earnings results on Tuesday, November 3rd. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.12). The company had revenue of $59.33 million for the quarter, compared to the consensus estimate of $56.30 million. Ouster had a negative return on equity of 11.70% and a negative net margin of 20.36%. On average, analysts forecast that Ouster, Inc. will post -0.97 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on OUST. Cantor Fitzgerald raised shares of Ouster from a "neutral" rating to an "overweight" rating and set a $45.00 price objective for the company in a report on Wednesday, November 4th. Citigroup reiterated an "outperform" rating on shares of Ouster in a research note on Tuesday, July 21st. Weiss Ratings reiterated a "sell (d-)" rating on shares of Ouster in a report on Wednesday, August 12th. Oppenheimer reissued an "outperform" rating on shares of Ouster in a research report on Wednesday, November 4th. Finally, 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. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $58.00.
Read Our Latest Research Report on Ouster
Institutional Trading of Ouster
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC lifted its holdings in shares of Ouster by 66.2% during the third quarter. Parallel Advisors LLC now owns 866 shares of the company's stock worth $35,000 after buying an additional 345 shares during the last quarter. Farther Finance Advisors LLC increased its position in Ouster by 83.4% during the third quarter. Farther Finance Advisors LLC now owns 895 shares of the company's stock worth $36,000 after acquiring an additional 407 shares during the period. GAMMA Investing LLC increased its position in Ouster by 31.0% during the third quarter. GAMMA Investing LLC now owns 1,441 shares of the company's stock worth $58,000 after acquiring an additional 341 shares during the period. Allworth Financial LP raised its stake in Ouster by 40.3% during the 2nd 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. Finally, Integrated Wealth Concepts LLC acquired a new position in Ouster during the 2nd quarter valued at $74,000. Institutional investors and hedge funds own 31.45% of the company's stock.
Ouster Company Profile
(
Get Free Report)
Ouster, Inc. develops lidar sensors and software that help machines and infrastructure detect and interpret their surroundings. Its digital lidar products use laser-based sensing to create 3D representations of nearby objects and environments. The company serves customers in areas including industrial automation, robotics, smart infrastructure and automotive applications. Its offerings include lidar sensors and perception software designed to support tasks such as object detection, mapping and navigation.
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