On April 21st, 2023, shares of Ouster, Inc. (NYSE:OUST) are set to reverse split at a ratio of 1-10, which was previously announced by the company. Shareholders should take note that the number of shares they own will be adjusted after trading closes on that same day.
The stock opened at $0.46 on April 13th and has experienced a dramatic swing in price over the last year, with a high of $4.27 and a low matching its current value. Ouster’s market capitalization stands at $177.80 million with a negative P/E ratio of -0.59 and a beta of 2.47. The company is in possession of a fifty-day simple moving average of $1.07 as well as having both quick and current ratios exceeding four.
In terms of investment, numerous hedge funds and institutional investors have made changes to their positions within Ouster recently. Game Plan Financial Advisors LLC increased its stake by almost twenty-five percent in Q3 2022 while Penn Capital Management Company LLC boosted its shares by 0.3% during the same period.
Analysts from Citigroup lowered their price target for Ouster from $1.70 to $1.00 on April 2nd, while Chardan Capital lowered the stock’s rating from “buy” to “neutral,” setting their price target also at $1.00 just over two weeks later on March 24th.
Other firms such as Cantor Fitzgerald decreased Ouster’s price target from $5.00 to $3.00 while Rosenblatt Securities reduced theirs from $2.00 to $1.75 but maintained their “buy” rating for the stock.
Although there are varying views among analysts regarding Ouster, it remains to be seen how this reverse split will affect its future performance once trading resumes post-closure adjustment date. Shareholders should monitor the stock closely in order to make informed decisions regarding their investment portfolios.
Ouster Inc. Reports Q1 Losses and Insider Sell-Offs Spark Investor Concerns
Ouster (NYSE:OUST) recently released their earnings results for the first quarter of the year. The company’s earnings per share (EPS) for this period was reported to be at a negative $0.23, indicating a downturn in profits from the previous year. Sell-side analysts predict that Ouster will continue to experience losses and that it will post a total EPS loss of around $0.95 for 2023.
The reasons behind these financial losses are still unclear, but experts speculate that it may be due to several factors such as increased competition or changes in consumer demand. It is crucial for Ouster to take all necessary measures to realign its business strategy and ensure that it remains competitive.
Along with this news, insiders have sold over 376,000 shares of the company’s stock worth around $407,536 in the past quarter. Such insider sell-offs can sometimes raise concerns among investors who may interpret them as a lack of confidence in the company’s future performance.
On March 14th, insider Nathan Dickerman sold almost $30,000-worth of Ouster stock at an average price of $0.90 per share. Following this transaction, Dickerman still holds approximately 813,047 shares valued at over $731 thousand.
Additionally, on February 27th of this year, Director Ted L.Tewksbury III too sold around 326,248 shares of Ouster’s stock at an average price of $1.11 netting him around $362K dollars after the sale was concluded. As we move forward into Q2 and beyond, both officials’ actions hopefully inspire greater confidence among those monitoring company health.
Despite these challenges facing Ouster Inc., there is hope for improvement as companies focus on strategic diversification aimed at attracting diversified consumers across various markets before they can consider putting themselves back on track towards financial stability once more through this diversification approach taken by larger firms for their current financial stability.
