In a recent disclosure with the Securities & Exchange Commission, it has been revealed that DnB Asset Management AS purchased a new stake in Ouster, Inc. (NYSE:OUST) during the second quarter. According to reports, the institutional investor acquired 91,877 shares of Ouster’s stock during this period. These shares are estimated to be valued at approximately $454,000. At the end of the reporting period, DnB Asset Management AS owned around 0.24% of Ouster.
Ouster, a leading provider of high-resolution digital lidar sensors used in autonomous vehicles and other applications, recently announced its earnings results for the quarter ended August 10th. During this period, the company reported earnings per share of ($1.81). Additionally, Ouster generated $19.40 million in revenue during this quarter.
Despite posting negative figures in terms of net margin and return on equity, equities research analysts predict that Ouster will report earnings per share of -10.74 for the current fiscal year.
It is worth noting that DnB Asset Management AS’ decision to purchase a stake in Ouster reflects its confidence in the company’s potential for growth and success in the future. This investment signifies recognition within the finance industry of Ouster’s position as a key player in the lidar technology market.
Lidar technology plays a crucial role in enabling autonomous vehicles to sense their environment by using laser light pulses to create detailed 3D maps. As demand for autonomous vehicles continues to rise worldwide, companies like Ouster are positioning themselves at the forefront of innovation.
The acquisition by DnB Asset Management AS not only demonstrates their belief in Ouster’s long-term prospects but also highlights their commitment to investing in emerging technologies with promising growth potentials.
As we look ahead into a future driven by technological advancements and automation, it is essential to monitor investments made by institutions like DnB Asset Management AS. These investments can provide valuable insights into the potential winners and leaders in emerging industries.
In conclusion, DnB Asset Management AS’ purchase of a stake in Ouster, Inc. highlights the growing interest in lidar technology and its applications. Although Ouster reported negative figures in its recent earnings report, analysts remain optimistic about its future prospects. Invested institutions like DnB Asset Management AS are fueled by their belief that Ouster has the capability to navigate challenges and emerge as a key player in the autonomous vehicle industry. As we move forward, it will be interesting to see how Ouster capitalizes on emerging opportunities and builds upon the confidence placed in it by institutional investors.
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Growing Investor Interest in Ouster’s Lidar Technology Sparks Confidence and Growth Prospects
Investors Increase Holdings in Ouster, Research Firms Provide Insights
September 20, 2023
Ouster, Inc., a leading provider of digital lidar sensors for autonomous vehicles and industrial automation applications, has recently witnessed increased interest from major investors. Notably, Two Sigma Securities LLC saw its position in Ouster surge by a staggering 142.5% during the first quarter of this year. The firm now holds 31,776 shares of Ouster’s stock valued at $27,000 after acquiring an additional 18,674 shares in the preceding quarter.
This significant increase in holdings highlights the growing confidence of investors in the potential of Ouster and its lidar technology. Two Sigma Securities LLC is not alone in this wave of investment as Stifel Financial Corp also established a new position during the first quarter, valuing it at approximately $26,000. Similarly, Psagot Value Holdings Ltd. Israel entered the market with an acquisition worth approximately $68,000 and Oppenheimer & Co. Inc. seized an opportunity to acquire shares valued at about $62,000 during the same period.
Furthermore, Amalgamated Bank amplified its position in Ouster by 68% during the first quarter with an extra purchase of 12,329 shares. As a result, Amalgamated Bank now owns 30,468 shares valued at $25,000.
It is important to note that institutional investors and hedge funds collectively hold nearly one-fourth (24.96%) of Ouster’s stock. This figure not only demonstrates the level of confidence among these entities but also emphasizes their faith in Ouster’s long-term potential.
Research firms have also weighed in on Ouster’s prospects. Rosenblatt Securities reaffirmed its “buy” rating on Ouster’s shares while providing a target price of $17.50 per share earlier this year in August. Chardan Capital boosted its rating from “neutral” to “buy,” setting a price target of $10.00. Additionally, Citigroup improved its price target from $6.10 to $7.50 per share, giving Ouster a “neutral” rating.
On average, Bloomberg.com data reveals that Ouster currently holds a consensus rating of “Moderate Buy” and an average target price of $18.57 per share.
In recent news, major shareholder Krishna Kantheti sold 100,000 shares of Ouster’s stock in August at an average price of $6.79 per share, resulting in a total transaction value of $679,000. Following this sale, Kantheti now holds 2,457,265 shares valued at $16,684,829.35.
Meanwhile, Director Ernest E. Maddock purchased 7,000 shares at an average cost of $6.02 per share in late August. As a result of this acquisition, Maddock now owns 38,924 shares valued at approximately $234,322.48.
With regard to insider trading activities within the company during the last quarter, corporate insiders have bought 18,600 shares worth $98,860 and sold 118,695 shares with a total value of $782,088. Corporate insiders currently own 6% (6.00%) of Ouster’s stock.
Ouster’s stock trades on the New York Stock Exchange under the ticker symbol NYSE:OUST and opened at $4.78 on Wednesday. As of September 20th , the stock has been trading below both its 50-day moving average price ($5.66) and its 200-day moving average price ($5.93). The company has a market capitalization of approximately $188.81 million and possesses a beta value of 2.18 which implies higher volatility compared to the broader market.
To analyze its financial health, Ouster exhibits a quick ratio of 3.76 and a current ratio of 4.17, indicating strong liquidity. Additionally, the company maintains a debt-to-equity ratio of 0.18, showcasing a conservative leverage position.
As investors continue to show interest in Ouster’s lidar technology and with positive research firm ratings, Ouster remains poised for growth in the burgeoning autonomous vehicle and industrial automation sectors. The pace of technological advancements coupled with increasing adoption makes for an intriguing investment opportunity.
Disclaimer: The author does not hold any positions in Ouster, Inc., nor has any affiliations with the mentioned companies or individuals. This article is solely intended for informational purposes and should not be construed as financial advice.
