Ouster (NYSE:OUST) Trading 8.6% Higher - Here's What Happened

Ouster, Inc. (NYSE:OUST - Get Free Report) shares traded up 8.6% during trading on Wednesday . The company traded as high as $11.49 and last traded at $11.76. 811,015 shares were traded during trading, a decline of 37% from the average session volume of 1,284,780 shares. The stock had previously closed at $10.83.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Oppenheimer assumed coverage on shares of Ouster in a research report on Thursday, March 27th. They set an "outperform" rating and a $16.00 price target for the company. UBS Group set a $16.00 price target on shares of Ouster in a research report on Thursday, March 27th. Westpark Capital upgraded shares of Ouster from a "hold" rating to a "buy" rating and set a $13.68 price target for the company in a research report on Friday, May 9th. Rosenblatt Securities restated a "buy" rating and set a $17.00 price target on shares of Ouster in a research report on Friday, March 21st. Finally, Cantor Fitzgerald upped their target price on shares of Ouster from $10.00 to $11.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $14.10.

Ouster Stock Up 4.2%

The firm's 50-day moving average is $8.82 and its 200-day moving average is $9.62. The company has a market capitalization of $660.25 million, a PE ratio of -4.78 and a beta of 2.25.

Insiders Place Their Bets

In other Ouster news, General Counsel Megan Chung sold 5,800 shares of the business's stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $11.24, for a total value of $65,192.00. Following the completion of the sale, the general counsel now directly owns 220,762 shares of the company's stock, valued at $2,481,364.88. The trade was a 2.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 9,099 shares of company stock valued at $90,460 over the last three months. Insiders own 7.81% of the company's stock.

Institutional Trading of Ouster

Several hedge funds have recently added to or reduced their stakes in OUST. SG Americas Securities LLC lifted its stake in Ouster by 19.9% in the fourth quarter. SG Americas Securities LLC now owns 19,652 shares of the company's stock worth $240,000 after purchasing an additional 3,261 shares during the last quarter. Legato Capital Management LLC raised its stake in shares of Ouster by 16.3% during the fourth quarter. Legato Capital Management LLC now owns 65,860 shares of the company's stock valued at $805,000 after acquiring an additional 9,228 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Ouster by 6.6% during the fourth quarter. Rhumbline Advisers now owns 79,191 shares of the company's stock valued at $968,000 after acquiring an additional 4,900 shares during the last quarter. New York State Common Retirement Fund raised its stake in shares of Ouster by 25.8% during the fourth quarter. New York State Common Retirement Fund now owns 759,491 shares of the company's stock valued at $9,281,000 after acquiring an additional 155,640 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Ouster by 1.1% during 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 acquiring an additional 1,074 shares during the last quarter. 31.45% of the stock is owned by institutional investors.

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.