BlackRock Fund Advisors recently announced the acquisition of new stake in Ouster Inc. (NYSE:OUST). The institutional investor has increased its shareholding in the Technology company by 9.38% to 17.53 million shares with purchase of 1.5 million shares. This fresh investment now brings its stake to 9.49% valued currently at $21.03 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.19 million to 15.18 million shares. And SSgA Funds Management, Inc. has lifted its position by 17.76% or 1.62 million shares – to 10.72 million shares.
With over 6.85 million Ouster Inc. (OUST) shares trading Friday and a closing price of $0.93 on the day, the dollar volume was approximately $6.37 million. The shares have shown a negative half year performance of -32.88% and its price on 03/10/23 lost nearly -10.07%. Currently, there are 181.36M common shares owned by the public and among those 123.70M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 7 analysts who have offered their price forecasts for OUST have a consensus price objective of $3.10. The analysts have set the share’s price value over the next 12 months at a high of $5.00 and a low of $1.50. The average price target is 68.47% above its recent price level and an upside to the estimated low will see the stock gain 38.0% over that period. But an upside of 81.4% will see the stock hit the forecast high price target while median target price for the stock is $2.50.
Insiders at the company have transacted a total of 57 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 38 of these insider trades were purchases, accounting for 2,649,409 shares. Insider sales of the common stock occurred on 19 occasions, with total insider shares sold totaling 491,206 shares.
The top 3 mutual fund holders in Ouster Inc. are Vanguard Total Stock Market Index, iShares Russell 2000 ETF, and SPDR S&P Kensho New Economies Com. Vanguard Total Stock Market Index owns 9.16 million shares of the company’s stock, all valued at over $11.0 million. iShares Russell 2000 ETF sold 21924.0 shares to see its total holdings shrink to 6.93 million shares valued at over $8.31 million and representing 3.75% of the shares outstanding. SPDR S&P Kensho New Economies Com bought 1258.0 shares to bring its total holdings to over 4.96 million shares at a value of $5.95 million. SPDR S&P Kensho New Economies Com now owns shares totaling to 2.68% of the shares outstanding.
Shares of Ouster Inc. (NYSE: OUST) opened at $1.02, down -$0.01 from a prior closing price of $1.03. However, the script later moved the day high at 1.0301, down -10.07%. The company’s stock has a 5-day price change of -17.29% and -22.81% over the past three months. OUST shares are trading 7.33% year to date (YTD), with the 12-month market performance down to -71.84% lower. It has a 12-month low price of $0.76 and touched a high of $5.00 over the same period. OUST has an average intraday trading volume of 1.76 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -25.30%, -24.92%, and -33.30% respectively.
Institutional ownership of Ouster Inc. (NYSE: OUST) shares accounts for 29.90% of the company’s 181.36M shares outstanding. Mutual fund holders own 22.24%, while other institutional holders and individual stakeholders account for 27.99% and 21.53% respectively.
It has a market capitalization of $391.72M. The earnings-per-share (ttm) stands at -$0.72. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.78% over the week and 11.89% over the month.
Analysts forecast that Ouster Inc. (OUST) will achieve an EPS of -$0.18 for the current quarter, -$0.16 for the next quarter and -$0.65 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.24 while analysts give the company a high EPS estimate of -$0.12. Comparatively, EPS for the current quarter was -$0.16 a year ago. Earnings per share for the fiscal year are expected to decrease by -6.00%, and 15.60% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate Ouster Inc. (OUST) as a “Moderate Buy” at a consensus score of 2.30. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 2 of the 7 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the OUST, a number of firms have released research notes about the stock. Citigroup stated their Neutral rating for the stock in a research note on December 07, 2022, with the firm’s price target at $10-$1.70. Robert W. Baird coverage for the Ouster Inc. (OUST) stock in a research note released on November 08, 2022 offered a Neutral rating with a price target of $1.50. Rosenblatt was of a view on October 25, 2022 that the stock is Buy, while Barclays gave the stock Equal Weight rating on July 25, 2022, issuing a price target of $6- $2. Cantor Fitzgerald on their part issued Overweight rating on May 23, 2022.
