Ouster (NYSE:OUST) Shares Up 6.1% – Here’s Why

Ouster, Inc. (NYSE:OUST)’s share price rose 6.1% on Friday . The company traded as high as $10.25 and last traded at $10.13. Approximately 280,418 shares were traded during trading, a decline of 76% from the average daily volume of 1,154,313 shares. The stock had previously closed at $9.55.

Analyst Upgrades and Downgrades

OUST has been the topic of a number of research reports. Westpark Capital reaffirmed a “buy” rating and issued a $17.00 price target on shares of Ouster in a report on Monday, August 12th. Craig Hallum dropped their price target on Ouster from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, August 14th. Rosenblatt Securities reissued a “buy” rating and issued a $17.00 price objective on shares of Ouster in a report on Friday, November 8th. Finally, Cantor Fitzgerald upgraded Ouster from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $12.00 to $10.00 in a research note on Monday, November 11th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $13.00.

Ouster Stock Up 3.5 %

The firm has a 50-day simple moving average of $7.71 and a 200-day simple moving average of $9.39. The stock has a market cap of $491.73 million, a PE ratio of -3.84 and a beta of 2.34.

Insider Activity at Ouster

In other Ouster news, CFO Mark Weinswig sold 31,397 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $8.72, for a total value of $273,781.84. Following the completion of the transaction, the chief financial officer now directly owns 198,650 shares of the company’s stock, valued at $1,732,228. This trade represents a 13.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders have sold 40,425 shares of company stock worth $329,394. 7.81% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ouster

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Ouster by 7.6% during the first quarter. Vanguard Group Inc. now owns 2,328,823 shares of the company’s stock worth $18,491,000 after purchasing an additional 164,360 shares in the last quarter. State Street Corp lifted its stake in Ouster by 2.4% during the third quarter. State Street Corp now owns 1,649,540 shares of the company’s stock worth $10,392,000 after purchasing an additional 37,926 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Ouster by 6.8% in the 3rd quarter. Geode Capital Management LLC now owns 975,407 shares of the company’s stock worth $6,146,000 after purchasing an additional 62,202 shares in the last quarter. Marshall Wace LLP increased its position in shares of Ouster by 184.9% during the 2nd quarter. Marshall Wace LLP now owns 653,530 shares of the company’s stock valued at $6,424,000 after purchasing an additional 424,178 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Ouster by 10.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 356,407 shares of the company’s stock valued at $2,245,000 after buying an additional 34,743 shares in the last quarter. 31.45% of the stock is currently owned by hedge funds and other institutional investors.

About Ouster

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.