Ouster (NYSE:OUST) Trading Up 7.2% – Here’s What Happened

Ouster, Inc. (NYSE:OUST) shares were up 7.2% during trading on Friday . The company traded as high as $30.20 and last traded at $29.6710. Approximately 1,023,603 shares traded hands during mid-day trading, a decline of 44% from the average daily volume of 1,821,188 shares. The stock had previously closed at $27.68.

Analyst Upgrades and Downgrades

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

Ouster Price Performance

The firm has a 50-day moving average of $23.52 and a 200 day moving average of $26.89. The company has a market capitalization of $1.67 billion, a PE ratio of -10.84 and a beta of 2.93.

Insider Transactions at Ouster

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

Institutional Trading of Ouster

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OUST. SG Americas Securities LLC grew its position in shares of Ouster by 43.2% during the 4th quarter. SG Americas Securities LLC now owns 276,578 shares of the company’s stock valued at $5,985,000 after acquiring an additional 83,448 shares during the period. 180 Wealth Advisors LLC lifted its position in Ouster by 13.8% during the fourth quarter. 180 Wealth Advisors LLC now owns 49,122 shares of the company’s stock valued at $1,063,000 after purchasing an additional 5,956 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Ouster by 514.6% during the third quarter. JPMorgan Chase & Co. now owns 185,198 shares of the company’s stock valued at $5,010,000 after purchasing an additional 155,063 shares during the period. NewEdge Advisors LLC grew its holdings in Ouster by 714.7% during the third quarter. NewEdge Advisors LLC now owns 9,222 shares of the company’s stock valued at $249,000 after purchasing an additional 8,090 shares during the period. Finally, Sender Co & Partners Inc. purchased a new stake in Ouster in the third quarter worth about $490,000. 31.45% of the stock is owned by hedge funds and other institutional investors.

Ouster Company Profile

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.