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Ouster Inc Down 11.59% To $0.80 After Earnings Miss

Friday, March 24, 2023 02:36 PM | InvestorsObserver Analysts

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Ouster Inc Down 11.59% To $0.80 After Earnings Miss

Ouster Inc (OUST) said after close Thursday that it lost $0.23 per share in quarter four 2022.

On the revenue line, the company reported $10.9 million, missing estimates by $4.9 million.

In the same quarter a year ago, the company lost $0.17 per share on revenue of $11.9 million.

The stock is down 11.59% to $0.80 after the report.

Despite Ouster Inc reporting a decline in revenues, earnings increased signaling a rise in profit margins.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Ouster Inc a Neutral Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 36. Meanwhile, the average Wall Street analyst rated the stock a Buy.

Ouster Inc is a manufacturer of high-resolution digital lidar sensors used throughout the industrial automation, smart infrastructure, robotics, and automotive industries.

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