Ouster (NYSE:OUST) Stock Price Up 15% - Here's What Happened

Key Points

• Ouster (NYSE:OUST) shares increased by 15% on Monday, reaching a high of $30.35 before closing at $29.68. Despite this surge, trading volume decreased by 33% compared to the average daily volume.
• Recent analysis reports indicate a mixed outlook for Ouster, with a downgrade from Westpark Capital to a "hold" rating, while Cantor Fitzgerald maintained a "neutral" rating with a price target of $19.00.
• Institutional investment in Ouster has seen significant changes, with Vanguard increasing its stake by 4.5% and JPMorgan boosting its position by 548.6% during the fourth quarter, illustrating growing interest from hedge funds.

Ouster, Inc. (NYSE:OUST - Get Free Report) shares rose 15% on Monday . The stock traded as high as $30.35 and last traded at $29.68. Approximately 1,418,671 shares were traded during trading, a decline of 33% from the average daily volume of 2,118,308 shares. The stock had previously closed at $25.80.

Analyst Upgrades and Downgrades

OUST has been the subject of several recent research reports. Westpark Capital downgraded shares of Ouster from a "buy" rating to a "hold" rating in a research note on Thursday, June 12th. Cantor Fitzgerald reiterated a "neutral" rating and set a $19.00 price target on shares of Ouster in a research report on Thursday, June 12th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Ouster has a consensus rating of "Moderate Buy" and an average price target of $15.24.

Ouster Stock Performance

The firm has a market cap of $1.51 billion, a price-to-earnings ratio of -10.96 and a beta of 2.74. The business has a fifty day moving average of $22.53 and a two-hundred day moving average of $13.72.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of OUST. Vanguard Group Inc. increased its stake in shares of Ouster by 4.5% during the 4th quarter. Vanguard Group Inc. now owns 3,634,680 shares of the company's stock worth $44,416,000 after purchasing an additional 155,736 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Ouster by 548.6% during the fourth quarter. JPMorgan Chase & Co. now owns 121,934 shares of the company's stock worth $1,490,000 after acquiring an additional 103,135 shares during the last quarter. Geode Capital Management LLC boosted its position in Ouster by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 1,022,274 shares of the company's stock worth $12,495,000 after acquiring an additional 46,867 shares during the last quarter. ExodusPoint Capital Management LP acquired a new stake in Ouster during the fourth quarter worth approximately $154,000. Finally, Wells Fargo & Company MN boosted its position in Ouster by 20.8% during the fourth quarter. Wells Fargo & Company MN now owns 28,315 shares of the company's stock worth $346,000 after acquiring an additional 4,876 shares during the last quarter. 31.45% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.