Ouster (NYSE:OUST) Trading Up 3.9% – Here’s Why

Ouster, Inc. (NYSE:OUST)’s share price traded up 3.9% on Wednesday . The stock traded as high as $22.79 and last traded at $22.3330. 446,112 shares were traded during trading, a decline of 80% from the average session volume of 2,282,675 shares. The stock had previously closed at $21.49.

Analyst Upgrades and Downgrades

OUST has been the topic of several research reports. Westpark Capital reaffirmed a “buy” rating and issued a $50.00 target price on shares of Ouster in a research report on Wednesday, November 5th. Zacks Research downgraded Ouster from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. Oppenheimer reaffirmed an “outperform” rating on shares of Ouster in a research report on Thursday, December 4th. Northland Securities set a $38.00 price objective on shares of Ouster in a research note on Wednesday, November 5th. Finally, Cantor Fitzgerald set a $33.00 price target on shares of Ouster in a report on Thursday, November 6th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.17.

Ouster Trading Up 3.9%

The stock has a market capitalization of $1.34 billion, a PE ratio of -8.69 and a beta of 2.99. The stock’s fifty day simple moving average is $24.93 and its 200-day simple moving average is $26.73.

Insider Buying and Selling at Ouster

In related news, General Counsel Megan Chung sold 5,837 shares of Ouster stock in a transaction that occurred on Friday, October 17th. The shares were sold at an average price of $31.02, for a total value of $181,063.74. Following the sale, the general counsel owned 197,199 shares of the company’s stock, valued at approximately $6,117,112.98. The trade was a 2.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ted L. Tewksbury III sold 1,695 shares of the stock in a transaction on Friday, December 19th. The shares were sold at an average price of $21.47, for a total value of $36,391.65. Following the transaction, the director directly owned 123,664 shares of the company’s stock, valued at approximately $2,655,066.08. This trade represents a 1.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 9,227 shares of company stock worth $260,474. Insiders own 6.63% of the company’s stock.

Hedge Funds Weigh In On Ouster

Several hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC boosted its holdings in 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 purchasing an additional 1,089 shares during the period. Nisa Investment Advisors LLC lifted its stake in Ouster by 153.3% during the second quarter. Nisa Investment Advisors LLC now owns 1,211 shares of the company’s stock worth $29,000 after purchasing an additional 733 shares during the last quarter. TD Waterhouse Canada Inc. boosted its holdings in shares of Ouster by 8,823.5% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,517 shares of the company’s stock worth $37,000 after purchasing an additional 1,500 shares in the last quarter. Game Plan Financial Advisors LLC raised its holdings in shares of Ouster by 400.0% during the 2nd quarter. Game Plan Financial Advisors LLC now owns 3,000 shares of the company’s stock valued at $73,000 after buying an additional 2,400 shares in the last quarter. Finally, North Capital Inc. boosted its stake in Ouster by 102.7% in the second quarter. North Capital Inc. now owns 3,000 shares of the company’s stock worth $73,000 after buying an additional 1,520 shares in the last quarter. 31.45% of the stock is currently owned by hedge funds and other institutional investors.

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.