Ouster (NYSE:OUST) Reaches New 12-Month High - Here's What Happened

Shares of Ouster, Inc. (NYSE:OUST - Get Free Report) hit a new 52-week high during trading on Friday . The company traded as high as $22.40 and last traded at $20.58, with a volume of 1868900 shares traded. The stock had previously closed at $20.34.

Wall Street Analyst Weigh In

OUST has been the topic of a number of analyst reports. UBS Group set a $16.00 price target on Ouster in a research note on Thursday, March 27th. Cantor Fitzgerald reissued a "neutral" rating and set a $19.00 target price on shares of Ouster in a research report on Thursday, June 12th. Oppenheimer began coverage on Ouster in a research note on Thursday, March 27th. They set an "outperform" rating and a $16.00 target price for the company. Rosenblatt Securities reiterated a "buy" rating and issued a $17.00 price target on shares of Ouster in a research note on Friday, March 21st. Finally, Westpark Capital cut shares of Ouster from a "buy" rating to a "hold" rating in a report on Thursday, June 12th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $15.24.

Ouster Stock Performance

The company's 50-day simple moving average is $11.56 and its 200-day simple moving average is $10.47. The company has a market capitalization of $1.27 billion, a PE ratio of -9.22 and a beta of 2.48.

Insider Activity

In other news, General Counsel Megan Chung sold 5,800 shares of the stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $11.24, for a total transaction of $65,192.00. Following the completion of the transaction, the general counsel now directly owns 220,762 shares of the company's stock, valued at approximately $2,481,364.88. This represents a 2.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.63% of the company's stock.

Institutional Investors Weigh In On Ouster

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Byrne Asset Management LLC purchased a new position in shares of Ouster in the 1st quarter valued at about $39,000. FNY Investment Advisers LLC purchased a new position in Ouster in the first quarter valued at about $49,000. Daiwa Securities Group Inc. lifted its position in shares of Ouster by 18.0% during 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 during the period. AlphaQuest LLC boosted its stake in shares of Ouster by 916.0% during the 4th quarter. AlphaQuest LLC now owns 8,270 shares of the company's stock worth $101,000 after acquiring an additional 7,456 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Ouster during the 1st quarter worth approximately $97,000. 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.