FY2024 Earnings Forecast for Ouster, Inc. (NYSE:OUST) Issued By Cantor Fitzgerald

Ouster, Inc. (NYSE:OUST) – Equities researchers at Cantor Fitzgerald dropped their FY2024 earnings estimates for shares of Ouster in a note issued to investors on Wednesday, August 14th. Cantor Fitzgerald analyst A. Sheppard now expects that the company will post earnings per share of ($2.40) for the year, down from their previous forecast of ($2.34). Cantor Fitzgerald has a “Neutral” rating and a $12.00 price target on the stock. The consensus estimate for Ouster’s current full-year earnings is ($2.34) per share.

A number of other analysts have also commented on the stock. Craig Hallum cut their price objective on shares of Ouster from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, August 14th. Rosenblatt Securities reissued a “buy” rating and issued a $17.00 price objective on shares of Ouster in a research report on Monday, August 12th. Finally, Westpark Capital reissued a “buy” rating and issued a $17.00 price objective on shares of Ouster in a research report on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.40.

Ouster Stock Performance

Shares of OUST opened at $8.01 on Monday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.83 and a current ratio of 3.09. Ouster has a twelve month low of $3.67 and a twelve month high of $16.88. The firm’s 50 day moving average price is $11.46 and its two-hundred day moving average price is $9.19. The firm has a market cap of $362.25 million, a P/E ratio of -1.44 and a beta of 2.42.

Hedge Funds Weigh In On Ouster

Several institutional investors and hedge funds have recently modified their holdings of OUST. The Manufacturers Life Insurance Company bought a new stake in shares of Ouster in the second quarter valued at about $163,000. Alpha DNA Investment Management LLC bought a new stake in shares of Ouster in the second quarter valued at about $407,000. Marshall Wace LLP boosted its position in shares of Ouster by 184.9% in the second quarter. Marshall Wace LLP now owns 653,530 shares of the company’s stock valued at $6,424,000 after acquiring an additional 424,178 shares during the period. XTX Topco Ltd boosted its position in shares of Ouster by 43.5% in the second quarter. XTX Topco Ltd now owns 48,475 shares of the company’s stock valued at $477,000 after acquiring an additional 14,695 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in shares of Ouster in the second quarter valued at about $1,217,000. 31.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Virginia Boulet bought 10,000 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were acquired at an average cost of $10.30 per share, for a total transaction of $103,000.00. Following the completion of the acquisition, the director now owns 163,089 shares in the company, valued at $1,679,816.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Virginia Boulet acquired 10,000 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were purchased at an average cost of $10.30 per share, for a total transaction of $103,000.00. Following the completion of the acquisition, the director now directly owns 163,089 shares in the company, valued at $1,679,816.70. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Megan Chung sold 2,638 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $11.14, for a total transaction of $29,387.32. Following the completion of the transaction, the general counsel now owns 163,351 shares in the company, valued at $1,819,730.14. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,168 shares of company stock worth $184,264. Insiders own 7.81% of the company’s stock.

Ouster Company Profile

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.