Ouster (NYSE:OUST) Trading Up 9.6% – Here’s Why

Ouster, Inc. (NYSE:OUST) rose 9.6% during trading on Thursday . The stock traded as high as $25.99 and last traded at $26.1640. Approximately 1,079,177 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 2,341,721 shares. The stock had previously closed at $23.87.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on OUST shares. Oppenheimer reiterated an “outperform” rating on shares of Ouster in a research report on Thursday. Northland Securities set a $38.00 price objective on shares of Ouster in a research report on Wednesday, November 5th. Zacks Research lowered shares of Ouster from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. Cantor Fitzgerald set a $33.00 target price on shares of Ouster in a research note on Thursday, November 6th. Finally, Westpark Capital restated a “buy” rating and set a $50.00 price target on shares of Ouster in a research report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $32.17.

Ouster Price Performance

The firm has a market capitalization of $1.49 billion, a PE ratio of -9.64 and a beta of 2.99. The business’s 50 day moving average is $27.54 and its two-hundred day moving average is $25.42.

Insider Activity

In other news, CEO Charles Angus Pacala sold 37,992 shares of Ouster stock in a transaction on Friday, September 12th. The shares were sold at an average price of $28.46, for a total transaction of $1,081,252.32. Following the completion of the sale, the chief executive officer directly owned 1,009,927 shares of the company’s stock, valued at approximately $28,742,522.42. The trade was a 3.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Darien Spencer sold 18,274 shares of the company’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $28.46, for a total transaction of $520,078.04. Following the completion of the transaction, the chief operating officer owned 346,132 shares of the company’s stock, valued at $9,850,916.72. This trade represents a 5.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 106,310 shares of company stock worth $3,035,305. Corporate insiders own 6.63% of the company’s stock.

Hedge Funds Weigh In On Ouster

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Ouster by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 3,825,565 shares of the company’s stock worth $34,354,000 after buying an additional 190,885 shares during the last quarter. Deutsche Bank AG raised its stake in shares of Ouster by 9.5% during the first quarter. Deutsche Bank AG now owns 34,088 shares of the company’s stock worth $306,000 after acquiring an additional 2,951 shares in the last quarter. Herald Investment Management Ltd bought a new stake in shares of Ouster in the 1st quarter worth approximately $1,794,000. Invesco Ltd. boosted its stake in shares of Ouster by 71.3% in the 1st quarter. Invesco Ltd. now owns 35,249 shares of the company’s stock valued at $317,000 after purchasing an additional 14,674 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Ouster in the 1st quarter valued at $1,105,000. 31.45% of the stock is owned by hedge funds and other institutional investors.

Ouster Company Profile

Ouster, Inc provides lidar sensors for the automotive, industrial, robotics, and smart infrastructure industries in Americas, the Asia-Pacific, Europe, the Middle East, and Africa. Its products include high-resolution scanning and solid-state digital lidar sensors, analog lidar sensors, and software solutions.