Ouster (NYSE:OUST) Stock Price Up 4.6% – Here’s Why

Ouster, Inc. (NYSE:OUST) shares rose 4.6% during mid-day trading on Wednesday . The company traded as high as $11.55 and last traded at $11.51. Approximately 762,299 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 1,171,474 shares. The stock had previously closed at $11.00.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Northland Securities assumed coverage on Ouster in a report on Thursday, December 12th. They set an “outperform” rating and a $14.00 price objective on the stock. Rosenblatt Securities reissued a “buy” rating and set a $17.00 price target on shares of Ouster in a research note on Friday, November 8th. Northland Capmk raised shares of Ouster to a “strong-buy” rating in a research note on Thursday, December 12th. Finally, Cantor Fitzgerald upgraded shares of Ouster from a “neutral” rating to an “overweight” rating and decreased their target price for the stock from $12.00 to $10.00 in a research report on Monday, November 11th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Ouster presently has an average rating of “Buy” and an average target price of $13.17.

Ouster Price Performance

The firm’s 50 day moving average is $8.67 and its 200 day moving average is $9.19. The company has a market capitalization of $518.61 million, a PE ratio of -4.05 and a beta of 2.50.

Insider Buying and Selling at Ouster

In other news, CFO Mark Weinswig sold 31,397 shares of Ouster stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $8.72, for a total transaction of $273,781.84. Following the sale, the chief financial officer now owns 198,650 shares of the company’s stock, valued at approximately $1,732,228. The trade was a 13.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Megan Chung sold 13,671 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $9.69, for a total transaction of $132,471.99. Following the completion of the transaction, the general counsel now directly owns 149,647 shares of the company’s stock, valued at approximately $1,450,079.43. The trade was a 8.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 80,415 shares of company stock worth $748,620. 7.81% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ouster

A number of institutional investors have recently added to or reduced their stakes in the company. State Street Corp grew its position in shares of Ouster by 2.4% in the 3rd quarter. State Street Corp now owns 1,649,540 shares of the company’s stock worth $10,392,000 after buying an additional 37,926 shares during the period. Geode Capital Management LLC boosted its stake in Ouster by 6.8% during the third quarter. Geode Capital Management LLC now owns 975,407 shares of the company’s stock worth $6,146,000 after acquiring an additional 62,202 shares in the last quarter. Marshall Wace LLP grew its holdings in Ouster by 184.9% in the second quarter. Marshall Wace LLP now owns 653,530 shares of the company’s stock worth $6,424,000 after purchasing an additional 424,178 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Ouster by 10.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 356,407 shares of the company’s stock valued at $2,245,000 after purchasing an additional 34,743 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of Ouster during the second quarter valued at approximately $1,305,000. 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.