Ouster Sees Unusually Large Options Volume (NYSE:OUST)

Ouster, Inc. (NYSE:OUST) was the recipient of some unusual options trading activity on Monday. Stock investors bought 5,009 put options on the stock. This is an increase of 188% compared to the average daily volume of 1,738 put options.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $8.00 price objective on shares of Ouster in a report on Thursday, March 28th. Craig Hallum upped their price target on Ouster from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Finally, Chardan Capital reiterated a “neutral” rating and set a $10.00 price objective on shares of Ouster in a research note on Wednesday, April 3rd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $9.50.

Ouster Price Performance

Shares of OUST opened at $7.62 on Tuesday. The company has a market capitalization of $309.91 million, a P/E ratio of -0.69 and a beta of 2.54. Ouster has a twelve month low of $3.21 and a twelve month high of $11.40. The company has a quick ratio of 2.94, a current ratio of 3.22 and a debt-to-equity ratio of 0.24. The firm has a 50 day moving average of $6.26 and a 200 day moving average of $5.79.

Insider Activity

In related news, CFO Mark Weinswig sold 19,990 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $9.35, for a total transaction of $186,906.50. Following the completion of the transaction, the chief financial officer now owns 236,800 shares in the company, valued at $2,214,080. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Ouster news, CFO Mark Weinswig sold 19,990 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $9.35, for a total value of $186,906.50. Following the completion of the sale, the chief financial officer now directly owns 236,800 shares in the company, valued at $2,214,080. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Megan Chung sold 5,776 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $7.96, for a total value of $45,976.96. Following the transaction, the general counsel now owns 163,966 shares in the company, valued at approximately $1,305,169.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,986 shares of company stock valued at $290,359. Insiders own 6.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted its holdings in shares of Ouster by 104.5% during the 1st quarter. BlackRock Inc. now owns 19,289,840 shares of the company’s stock valued at $16,140,000 after buying an additional 9,859,041 shares during the period. State Street Corp lifted its holdings in Ouster by 142.5% in the first quarter. State Street Corp now owns 11,387,013 shares of the company’s stock valued at $9,528,000 after acquiring an additional 6,691,110 shares during the period. Geode Capital Management LLC boosted its position in Ouster by 134.7% in the first quarter. Geode Capital Management LLC now owns 5,071,063 shares of the company’s stock worth $4,243,000 after purchasing an additional 2,910,036 shares during the last quarter. Penn Capital Management Company LLC grew its stake in shares of Ouster by 7.5% during the 1st quarter. Penn Capital Management Company LLC now owns 3,553,332 shares of the company’s stock valued at $2,987,000 after purchasing an additional 247,959 shares during the period. Finally, New York State Common Retirement Fund increased its position in shares of Ouster by 8.6% during the 1st quarter. New York State Common Retirement Fund now owns 2,577,098 shares of the company’s stock valued at $2,156,000 after purchasing an additional 204,494 shares during the last quarter. Hedge funds and other institutional investors own 31.45% of the company’s stock.

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.