Ouster (NYSE:OUST) Reaches New 1-Year High - What's Next?

Key Points

• Ouster's stock price reached a new 52-week high of $36.77, closing at $36.16, marking a significant increase from its previous close of $31.07.
• Wall Street analysts have mixed reviews on Ouster, with one Strong Buy rating, four Buy ratings, and a consensus price target of $15.95.
• Insider trading activity saw significant sales, with the General Counsel and CEO selling a combined total of over $1.57 million in shares, reflecting a decrease in their ownership stakes.

Ouster, Inc. (NYSE:OUST - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $36.77 and last traded at $36.16, with a volume of 4645167 shares. The stock had previously closed at $31.07.

Wall Street Analyst Weigh In

Separately, Westpark Capital upgraded Ouster from a "hold" rating to a "buy" rating in a research note on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $15.95.

Ouster Stock Up 16.4%

The firm has a fifty day simple moving average of $29.86 and a 200-day simple moving average of $20.54. The company has a market cap of $2.09 billion, a PE ratio of -14.07 and a beta of 2.72.

Insider Transactions at Ouster

In other news, General Counsel Megan Chung sold 17,183 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $28.46, for a total transaction of $489,028.18. Following the transaction, the general counsel directly owned 203,036 shares in the company, valued at approximately $5,778,404.56. This trade represents a 7.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Charles Angus Pacala sold 37,992 shares of Ouster stock in a transaction on Friday, September 12th. The shares were sold at an average price of $28.46, for a total transaction of $1,081,252.32. Following the completion of the transaction, the chief executive officer directly owned 1,009,927 shares in the company, valued at $28,742,522.42. The trade was a 3.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 98,778 shares of company stock worth $2,811,222. 6.63% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Corient Private Wealth LLC raised its holdings in shares of Ouster by 5.5% in the second quarter. Corient Private Wealth LLC now owns 11,554 shares of the company's stock valued at $280,000 after buying an additional 599 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Ouster by 153.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,211 shares of the company's stock valued at $29,000 after acquiring an additional 733 shares during the period. Ameritas Investment Partners Inc. raised its stake in Ouster by 22.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,189 shares of the company's stock valued at $126,000 after acquiring an additional 950 shares during the last quarter. NewEdge Advisors LLC lifted its position in Ouster by 2,532.6% during the 2nd quarter. NewEdge Advisors LLC now owns 1,132 shares of the company's stock worth $27,000 after acquiring an additional 1,089 shares during the period. Finally, 180 Wealth Advisors LLC grew its stake in shares of Ouster by 2.8% in the 2nd quarter. 180 Wealth Advisors LLC now owns 41,014 shares of the company's stock valued at $995,000 after purchasing an additional 1,128 shares during the last quarter. 31.45% of the stock is currently owned by institutional investors and hedge funds.

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.

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