Is Ouster Inc. (OUST) positioned for future growth?

Ouster Inc. (NYSE: OUST) stock jumped 1.79% on Friday to $1.14 against a previous-day closing price of $1.12. With 0.62 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.09 million shares. During the session, the Electronic Components company that operates in wider Technology sector, reached to the highest price of $1.1700 whereas the lowest price it dropped to was $1.1200. The 52-week range on OUST shows that it touched its highest point at $5.00 and its lowest point at $0.76 during that stretch. It currently has a 1-year price target of $3.10.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of OUST was down-trending over the past week, with a drop of -4.20%, but this was up by 12.87% over a month. Three-month performance surged to 28.15% while six-month performance fell -41.84%. The stock lost -69.11% in the past year, while it has gained 32.10% so far this year. A look at the trailing 12-month EPS for OUST yields -0.72 with Next year EPS estimates of -0.65. For the next quarter, that number is -0.18. This implies an EPS growth rate of -6.00% for this year and 15.60% for next year.

Float and Shares Shorts:

At present, 181.36 million OUST shares are outstanding with a float of 123.70 million shares on hand for trading. On Oct 13, 2022, short shares totaled 9.34 million, which was 5.14% higher than short shares on Sep 14, 2022. In addition to Mr. Charles Angus Pacala as the firm’s Co-Founder, CEO & Director, Ms. Anna Brunelle serves as its Chief Financial Officer.

Institutional Ownership:

Through their ownership of 32.31% of OUST’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 19.72% of OUST, in contrast to 12.16% held by mutual funds. Shares owned by individuals account for 11.47%. As the largest shareholder in OUST with 4.16% of the stake, BlackRock Fund Advisors holds 7,681,081 shares worth 7,681,081. A second-largest stockholder of OUST, The Vanguard Group, Inc., holds 7,202,383 shares, controlling over 3.90% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in OUST, holding 4,578,980 shares or 2.48% stake. With a 2.32% stake in OUST, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 4,276,255 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 1.69% of OUST stock, is the second-largest Mutual Fund holder. It holds 3,112,699 shares valued at 2.69 million. SPDR S&P Kensho New Economies Com holds 1.15% of the stake in OUST, owning 2,124,859 shares worth 1.83 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for OUST since 7 analysts follow the stock currently. There are 5 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 2 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With OUST analysts setting a high price target of $5.00 and a low target of $1.50, the average target price over the next 12 months is $3.10. Based on these targets, OUST could surge 338.6% to reach the target high and rise by 31.58% to reach the target low. Reaching the average price target will result in a growth of 171.93% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. OUST will report FY 2022 earnings on 02/14/2024. Analysts have provided yearly estimates in a range of -$0.53 being high and -$0.79 being low. For OUST, this leads to a yearly average estimate of -$0.63. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Ouster Inc. surprised analysts by -$0.00 when it reported -$0.15 EPS against a consensus estimate of -$0.15. The surprise factor in the prior quarter was $0.04. Based on analyst estimates, the high estimate for the next quarter is -$0.12 and the low estimate is -$0.24. The average estimate for the next quarter is thus -$0.16.

Summary of Insider Activity:

Insiders traded OUST stock several times over the past three months with 0 Buys and 7 Sells. In these transactions, 0 shares were bought while 179,212 shares were sold. The number of buy transactions has increased to 35 while that of sell transactions has risen to 19 over the past year. The total number of shares bought during that period was 2,591,905 while 491,206 shares were sold.

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