Ouster (NASDAQ:OUST) Trading 10.9% Higher – What’s Next?

Ouster, Inc. (NASDAQ:OUST)’s stock price was up 10.9% on Thursday . The stock traded as high as $48.56 and last traded at $48.7670. Approximately 2,909,355 shares were traded during trading, an increase of 5% from the average daily volume of 2,782,520 shares. The stock had previously closed at $43.96.

Analyst Ratings Changes

OUST has been the topic of several analyst reports. Cantor Fitzgerald lowered shares of Ouster from an “overweight” rating to a “neutral” rating in a report on Thursday, May 7th. Oppenheimer reissued an “outperform” rating and issued a $40.00 price target on shares of Ouster in a report on Tuesday, March 3rd. Weiss Ratings began coverage on shares of Ouster in a research report on Friday, May 15th. They issued a “sell (d-)” rating for the company. Rosenblatt Securities increased their price target on shares of Ouster from $40.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Finally, Roth Mkm began coverage on shares of Ouster in a research report on Friday, May 29th. They issued a “buy” rating and a $75.00 price target for the company. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Ouster presently has an average rating of “Hold” and a consensus target price of $48.17.

Ouster Trading Up 8.6%

The company’s fifty day moving average price is $28.14 and its two-hundred day moving average price is $24.35. The firm has a market cap of $3.00 billion, a P/E ratio of -49.27 and a beta of 3.24.

Insider Activity

In other news, COO Darien Spencer sold 30,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $45.00, for a total value of $1,350,000.00. Following the sale, the chief operating officer owned 342,366 shares of the company’s stock, valued at approximately $15,406,470. This represents a 8.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Mark Frichtl sold 308,742 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $41.53, for a total transaction of $12,822,055.26. Following the completion of the sale, the chief technology officer directly owned 294,924 shares in the company, valued at approximately $12,248,193.72. The trade was a 51.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 927,334 shares of company stock worth $31,530,882 in the last quarter. 5.72% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ouster

Institutional investors and hedge funds have recently bought and sold shares of the business. NewEdge Advisors LLC raised its position in Ouster by 2,532.6% in the 2nd quarter. NewEdge Advisors LLC now owns 1,132 shares of the company’s stock worth $27,000 after purchasing an additional 1,089 shares during the last quarter. Larson Financial Group LLC grew its position in shares of Ouster by 118.8% during the 4th quarter. Larson Financial Group LLC now owns 1,965 shares of the company’s stock worth $43,000 after buying an additional 1,067 shares during the period. Gordian Capital Singapore Pte Ltd grew its position in shares of Ouster by 38.1% during the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 2,900 shares of the company’s stock worth $78,000 after buying an additional 800 shares during the period. SHP Wealth Management acquired a new stake in shares of Ouster during the 4th quarter worth approximately $96,000. Finally, Van ECK Associates Corp grew its position in shares of Ouster by 17.1% during the 3rd quarter. Van ECK Associates Corp now owns 3,590 shares of the company’s stock worth $97,000 after buying an additional 525 shares during the period. Institutional investors and hedge funds own 31.45% of the company’s stock.

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.