Shares of Ouster, Inc. (OUST) gained over 36% on Wednesday morning after the company reported its fourth-quarter results and outlook for the first quarter.
OUST is currently trading at $6.82, up $1.84 or 36.95%, on the Nasdaq. The stock opened its trading at $5.43 after closing Tuesday at $4.98. The stock has traded between $3.21 and $8.60 in the past 52-week period.
For the first quarter of 2024, Ouster expects to achieve $25 million to $26 million in revenue. Analysts currently estimate revenues of $25.01 million for the quarter.
Revenues for the fourth quarter were $24.4 million, up from $22.2 million last year. Net loss for the quarter was $39.0 million or $0.95 per share, compared to $35.1 million or $0.89 per share last year.
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