Ouster (NYSE:OUST) Hits New 1-Year High - Here's What Happened

Ouster, Inc. (NYSE:OUST - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $17.18 and last traded at $16.65, with a volume of 2850399 shares changing hands. The stock had previously closed at $15.19.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on OUST shares. Oppenheimer initiated coverage on shares of Ouster in a research note on Thursday, March 27th. They issued an "outperform" rating and a $16.00 price target on the stock. Rosenblatt Securities reiterated a "buy" rating and set a $17.00 price target on shares of Ouster in a research note on Friday, March 21st. UBS Group set a $16.00 target price on shares of Ouster in a report on Thursday, March 27th. Westpark Capital raised Ouster from a "hold" rating to a "buy" rating and set a $13.68 price objective on the stock in a research report on Friday, May 9th. Finally, Cantor Fitzgerald increased their price objective on Ouster from $10.00 to $11.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $14.10.

Ouster Stock Performance

The stock's 50-day simple moving average is $9.51 and its 200 day simple moving average is $9.88. The company has a market capitalization of $1.09 billion, a PE ratio of -7.92 and a beta of 2.48.

Insiders Place Their Bets

In other news, General Counsel Megan Chung sold 5,800 shares of the business's stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $11.24, for a total transaction of $65,192.00. Following the completion of the sale, the general counsel now owns 220,762 shares in the company, valued at approximately $2,481,364.88. The trade was a 2.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 6.63% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ouster

Several large investors have recently bought and sold shares of OUST. Daiwa Securities Group Inc. increased its position in Ouster by 18.0% during the fourth quarter. Daiwa Securities Group Inc. now owns 6,977 shares of the company's stock worth $85,000 after buying an additional 1,063 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Ouster by 1.1% in the fourth quarter. Bank of New York Mellon Corp now owns 101,959 shares of the company's stock valued at $1,246,000 after buying an additional 1,074 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Ouster by 7.3% during the fourth quarter. Invesco Ltd. now owns 20,575 shares of the company's stock worth $251,000 after buying an additional 1,391 shares during the last quarter. Fox Run Management L.L.C. lifted its position in Ouster by 4.9% during the 4th quarter. Fox Run Management L.L.C. now owns 31,511 shares of the company's stock worth $385,000 after acquiring an additional 1,463 shares during the period. Finally, Intrua Financial LLC increased its holdings in shares of Ouster by 16.4% in the first quarter. Intrua Financial LLC now owns 13,962 shares of the company's stock valued at $125,000 after purchasing an additional 1,970 shares during the period. Institutional investors and hedge funds own 31.45% of the company's stock.

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.