Renaissance Technologies LLC Invests $1.22 Million in Ouster, Inc. (NYSE:OUST)

Renaissance Technologies LLC purchased a new stake in Ouster, Inc. (NYSE:OUST) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 123,800 shares of the company’s stock, valued at approximately $1,217,000. Renaissance Technologies LLC owned approximately 0.27% of Ouster at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Ouster by 7.6% in the first quarter. Vanguard Group Inc. now owns 2,328,823 shares of the company’s stock valued at $18,491,000 after purchasing an additional 164,360 shares during the last quarter. Essex Investment Management Co. LLC purchased a new stake in shares of Ouster in the first quarter valued at about $1,698,000. Bank of New York Mellon Corp purchased a new position in Ouster during the second quarter worth $1,305,000. SG Americas Securities LLC increased its position in Ouster by 783.0% during the 2nd quarter. SG Americas Securities LLC now owns 99,063 shares of the company’s stock worth $974,000 after purchasing an additional 87,844 shares in the last quarter. Finally, Rhumbline Advisers acquired a new position in shares of Ouster in the second quarter valued at approximately $598,000. Institutional investors and hedge funds own 31.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on OUST shares. Westpark Capital reaffirmed a “buy” rating and set a $17.00 price objective on shares of Ouster in a research note on Monday, August 12th. Rosenblatt Securities reissued a “buy” rating and issued a $17.00 target price on shares of Ouster in a research report on Monday, August 12th. Craig Hallum reduced their price target 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. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $12.00 price objective on shares of Ouster in a research report on Monday, September 30th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $13.40.

Ouster Price Performance

Shares of NYSE:OUST opened at $6.38 on Friday. The firm has a market cap of $288.54 million, a price-to-earnings ratio of -1.14 and a beta of 2.37. The company has a current ratio of 3.40, a quick ratio of 3.14 and a debt-to-equity ratio of 0.26. Ouster, Inc. has a 1 year low of $3.67 and a 1 year high of $16.88. The business has a fifty day simple moving average of $7.90 and a 200 day simple moving average of $9.46.

Ouster (NYSE:OUST) last posted its earnings results on Tuesday, August 13th. The company reported ($0.53) earnings per share (EPS) for the quarter. The firm had revenue of $26.99 million during the quarter. Ouster had a negative net margin of 122.32% and a negative return on equity of 68.48%. As a group, sell-side analysts predict that Ouster, Inc. will post -2.4 earnings per share for the current fiscal year.

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.