Shares of Ouster, Inc. (NYSE:OUST – Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $10.72, but opened at $11.07. Ouster shares last traded at $10.95, with a volume of 148,814 shares traded.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on the company. Northland Capmk upgraded Ouster to a “strong-buy” rating in a report on Thursday, December 12th. Rosenblatt Securities reissued a “buy” rating and issued a $17.00 target price on shares of Ouster in a report on Friday, November 8th. Cantor Fitzgerald raised shares of Ouster from a “neutral” rating to an “overweight” rating and decreased their price target for the company from $12.00 to $10.00 in a research note on Monday, November 11th. Finally, Northland Securities began coverage on shares of Ouster in a research note on Thursday, December 12th. They issued an “outperform” rating and a $14.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $13.17.
Get Our Latest Stock Analysis on Ouster
Ouster Price Performance
Ouster (NYSE:OUST – Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.54) earnings per share (EPS) for the quarter. Ouster had a negative return on equity of 65.17% and a negative net margin of 106.50%. The firm had revenue of $28.08 million during the quarter. During the same period in the prior year, the firm posted ($0.89) earnings per share. As a group, sell-side analysts expect that Ouster, Inc. will post -2.2 earnings per share for the current year.
Insider Transactions at Ouster
In other news, CTO Mark Frichtl acquired 5,045 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were bought at an average price of $9.78 per share, with a total value of $49,340.10. Following the completion of the purchase, the chief technology officer now directly owns 513,121 shares in the company, valued at $5,018,323.38. This trade represents a 0.99 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Darien Spencer sold 14,869 shares of Ouster stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $9.69, for a total value of $144,080.61. Following the sale, the chief operating officer now directly owns 291,718 shares of the company’s stock, valued at approximately $2,826,747.42. This trade represents a 4.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 80,415 shares of company stock worth $748,620. 7.81% of the stock is currently owned by insiders.
Institutional Trading of Ouster
Institutional investors and hedge funds have recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Ouster during the 2nd quarter worth about $27,000. Van ECK Associates Corp increased its holdings in Ouster by 28.4% during the third quarter. Van ECK Associates Corp now owns 7,264 shares of the company’s stock valued at $46,000 after buying an additional 1,608 shares during the period. Stoneridge Investment Partners LLC bought a new position in Ouster in the third quarter worth approximately $67,000. True North Advisors LLC purchased a new stake in Ouster during the third quarter worth $78,000. Finally, Intech Investment Management LLC bought a new stake in Ouster during the 3rd quarter valued at $81,000. 31.45% of the stock is currently owned by institutional investors.
About Ouster
Ouster, Inc provides lidar sensors for the automotive, industrial, robotics, and smart infrastructure industries in Americas, the Asia-Pacific, Europe, the Middle East, and Africa. Its products include high-resolution scanning and solid-state digital lidar sensors, analog lidar sensors, and software solutions.
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