Ouster (NASDAQ:OUST) Shares Up 6.7% – What’s Next?

Ouster, Inc. (NASDAQ:OUST)’s stock price shot up 6.7% during mid-day trading on Thursday . The stock traded as high as $33.25 and last traded at $32.9350. 1,442,409 shares were traded during trading, a decline of 43% from the average session volume of 2,543,453 shares. The stock had previously closed at $30.87.

Analyst Ratings Changes

A number of research analysts have recently weighed in on OUST shares. Cantor Fitzgerald downgraded Ouster from an “overweight” rating to a “neutral” rating in a research note on Thursday, May 7th. Rosenblatt Securities reissued a “buy” rating and issued a $40.00 price target on shares of Ouster in a research note on Tuesday, March 3rd. Weiss Ratings started coverage on Ouster in a research note on Friday, May 15th. They issued a “sell (d-)” rating on the stock. Finally, Oppenheimer reissued an “outperform” rating and issued a $40.00 price target on shares of Ouster in a research note on Tuesday, March 3rd. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $40.20.

Ouster Trading Up 5.5%

The stock has a 50 day moving average price of $24.59 and a two-hundred day moving average price of $23.37. The company has a market cap of $2.33 billion, a price-to-earnings ratio of -38.17 and a beta of 3.06.

Insiders Place Their Bets

In other news, CEO Charles Angus Pacala sold 24,657 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $23.43, for a total value of $577,713.51. Following the transaction, the chief executive officer owned 960,660 shares of the company’s stock, valued at $22,508,263.80. This represents a 2.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Mark Frichtl sold 136,434 shares of the company’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $32.56, for a total transaction of $4,442,291.04. Following the completion of the sale, the chief technology officer owned 628,638 shares of the company’s stock, valued at approximately $20,468,453.28. This represents a 17.83% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 503,475 shares of company stock worth $14,196,335. 5.72% of the stock is currently owned by company insiders.

Institutional Trading of Ouster

Large investors have recently made changes to their positions in the company. NewEdge Advisors LLC increased its position in shares of Ouster by 2,532.6% in the 2nd quarter. NewEdge Advisors LLC now owns 1,132 shares of the company’s stock valued at $27,000 after buying an additional 1,089 shares in the last quarter. Larson Financial Group LLC increased its position in shares of Ouster by 118.8% in the 4th quarter. Larson Financial Group LLC now owns 1,965 shares of the company’s stock valued at $43,000 after buying an additional 1,067 shares in the last quarter. Gordian Capital Singapore Pte Ltd increased its position in shares of Ouster by 38.1% in the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 2,900 shares of the company’s stock valued at $78,000 after buying an additional 800 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Ouster by 17.1% in the 3rd quarter. Van ECK Associates Corp now owns 3,590 shares of the company’s stock valued at $97,000 after buying an additional 525 shares in the last quarter. Finally, Banque Cantonale Vaudoise bought a new stake in shares of Ouster in the 3rd quarter valued at $120,000. Institutional investors own 31.45% of the company’s stock.

About Ouster

Ouster, Inc is a leading provider of high-resolution digital lidar sensors, software and services designed to enable advanced perception capabilities across a range of industries. Headquartered in San Francisco, California, the company develops modular lidar solutions that capture precise three-dimensional data in real time, supporting applications from autonomous vehicles and robotics to mapping, smart infrastructure and industrial automation.

The company’s core product lineup features multi-beam digital lidar units available in various form factors, including compact models for robotics and drones and larger units for automotive and mapping systems.