Ouster (NYSE:OUST) Trading Up 7% – Here’s What Happened

Ouster, Inc. (NYSE:OUST)’s stock price rose 7% on Thursday . The company traded as high as $11.26 and last traded at $11.00. Approximately 908,776 shares traded hands during mid-day trading, a decline of 39% from the average daily volume of 1,501,888 shares. The stock had previously closed at $10.28.

Analysts Set New Price Targets

OUST has been the subject of a number of research analyst reports. Northland Capmk raised shares of Ouster to a “strong-buy” rating in a research note on Thursday, December 12th. Rosenblatt Securities reiterated a “buy” rating and issued a $17.00 price objective on shares of Ouster in a research report on Friday, November 8th. Cantor Fitzgerald raised shares of Ouster from a “neutral” rating to an “overweight” rating and reduced their target price for the company from $12.00 to $10.00 in a research note on Monday, November 11th. Finally, Northland Securities started coverage on shares of Ouster in a research note on Thursday, December 12th. They set an “outperform” rating and a $14.00 price target for the company. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Ouster presently has a consensus rating of “Buy” and an average price target of $13.17.

Ouster Stock Performance

The business’s 50-day moving average is $11.00 and its two-hundred day moving average is $9.20. The firm has a market capitalization of $517.11 million, a price-to-earnings ratio of -4.04 and a beta of 2.36.

Ouster (NYSE:OUST) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.54) earnings per share for the quarter. Ouster had a negative return on equity of 65.17% and a negative net margin of 106.50%. The firm had revenue of $28.08 million for the quarter. During the same quarter last year, the company posted ($0.89) earnings per share. Analysts forecast that Ouster, Inc. will post -2.2 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Charles Angus Pacala purchased 50,954 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were purchased at an average price of $9.79 per share, with a total value of $498,839.66. Following the completion of the purchase, the chief executive officer now owns 769,957 shares in the company, valued at $7,537,879.03. This represents a 7.09 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Mark Weinswig sold 31,397 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $8.72, for a total transaction of $273,781.84. Following the sale, the chief financial officer now directly owns 198,650 shares of the company’s stock, valued at $1,732,228. This represents a 13.65 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 80,415 shares of company stock worth $748,620. Corporate insiders own 7.81% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Daiwa Securities Group Inc. lifted its stake in Ouster by 18.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 6,977 shares of the company’s stock valued at $85,000 after acquiring an additional 1,063 shares in the last quarter. Essex Investment Management Co. LLC lifted its position in shares of Ouster by 66.7% in the fourth quarter. Essex Investment Management Co. LLC now owns 275,433 shares of the company’s stock worth $3,366,000 after purchasing an additional 110,181 shares in the last quarter. AlphaQuest LLC boosted its holdings in Ouster by 916.0% during the fourth quarter. AlphaQuest LLC now owns 8,270 shares of the company’s stock worth $101,000 after purchasing an additional 7,456 shares during the last quarter. Raymond James Financial Inc. bought a new position in Ouster in the fourth quarter valued at $1,118,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Ouster by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 367,388 shares of the company’s stock valued at $4,489,000 after buying an additional 10,981 shares during the last quarter. 31.45% of the stock is owned by institutional investors and hedge funds.

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.