Ouster Inc (NYSE: OUST) stock jumped 8.02% on Friday to $5.39 against a previous-day closing price of $4.99. With 1.92 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.55 million shares. During the session, the Electronic Components company that operates in wider Technology sector, reached to the highest price of $5.59 whereas the lowest price it dropped to was $5.12. The 52-week range on OUST shows that it touched its highest point at $19.20 and its lowest point at $3.21 during that stretch. It currently has a 1-year price target of $8.93. Beta for the stock currently stands at 2.32.
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 up-trending over the past week, with a rise of 9.33%, but this was up by 27.73% over a month. Three-month performance dropped to -8.18% while six-month performance rose 5.48%. The stock lost -57.22% in the past year, while it has lost -37.54% so far this year. A look at the trailing 12-month EPS for OUST yields -12.40 with Next year EPS estimates of -2.75. For the next quarter, that number is -0.71. This implies an EPS growth rate of 21.91% for this year and 40.51% for next year.
Float and Shares Shorts:
At present, 40.69 million OUST shares are outstanding with a float of 21.36 million shares on hand for trading. On Oct 30, 2023, short shares totaled 3.11 million, which was 7.88% higher than short shares on Sep 28, 2023. In addition to Mr. Charles Angus Pacala as the firm’s Co-Founder, CEO & Director, Dr. Theodore L. Tewksbury III, Ph.D. serves as its Executive Chairman of the Board.
Through their ownership of 26.30% of OUST’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 8.04% of OUST, in contrast to 4.91% held by mutual funds. Shares owned by individuals account for 11.91%. As the largest shareholder in OUST with 5.06% of the stake, The Vanguard Group, Inc. holds 2,000,538 shares worth 2,000,538. A second-largest stockholder of OUST, AIGH Capital Management LLC, holds 1,287,993 shares, controlling over 3.26% of the firm’s shares. Penn Capital Management Co LLC is the third largest shareholder in OUST, holding 728,707 shares or 1.85% stake. With a 2.19% stake in OUST, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 864,088 shares are owned by the mutual fund manager. The Vanguard Information Technology I, which owns about 1.65% of OUST stock, is the second-largest Mutual Fund holder. It holds 651,027 shares valued at 2.49 million. Vanguard Extended Market Index Fu holds 1.03% of the stake in OUST, owning 408,398 shares worth 1.56 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for OUST since 0 analysts follow the stock currently. 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 $12.00 and a low target of $5.00, the average target price over the next 12 months is $8.93. Based on these targets, OUST could surge 122.63% to reach the target high and fall by -7.24% to reach the target low. Reaching the average price target will result in a growth of 65.68% from current levels.
Summary of Insider Activity:
Insiders traded OUST stock several times over the past three months with 5 Buys and 5 Sells. In these transactions, 88,600 shares were bought while 9,677 shares were sold. The number of buy transactions has increased to 39 while that of sell transactions has risen to 24 over the past year. The total number of shares bought during that period was 8,169,673 while 591,387 shares were sold.