Ouster (NYSE:OUST) Trading Up 10% - Here's What Happened

Key Points

• Ouster shares jumped about 10% to $26.68 during mid-day trading (previous close $24.26) on volume of 685,775 shares, and analysts are optimistic with an average target of $40.20 — including $40 targets from Rosenblatt and Oppenheimer and a consensus of four Buys and one Hold.
• Insiders have been net sellers recently (198,409 shares sold in the last 90 days, roughly $4.59M), though they still own 6.63% of the company, while institutional investors (Vanguard, Invesco, Geode, Penn Capital, Handelsbanken) have been increasing stakes and now own 31.45% of the stock.

Ouster, Inc. (NYSE:OUST - Get Free Report)'s share price traded up 10% during mid-day trading on Monday . The company traded as high as $26.30 and last traded at $26.6820. 685,775 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 1,853,136 shares. The stock had previously closed at $24.26.

Analyst Upgrades and Downgrades

OUST has been the subject of a number of analyst reports. Rosenblatt Securities reissued a "buy" rating and set a $40.00 target price on shares of Ouster in a research report on Tuesday, March 3rd. Oppenheimer reaffirmed an "outperform" rating and issued a $40.00 price target on shares of Ouster in a report on Tuesday, March 3rd. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Ouster currently has an average rating of "Moderate Buy" and an average target price of $40.20.

Ouster Trading Up 8.7%

The company has a market cap of $1.66 billion, a PE ratio of -10.25 and a beta of 2.98. The firm's 50-day simple moving average is $20.34 and its two-hundred day simple moving average is $23.80.

Insider Buying and Selling at Ouster

In related news, COO Darien Spencer sold 10,938 shares of the firm's stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $23.43, for a total value of $256,277.34. Following the completion of the transaction, the chief operating officer owned 325,250 shares in the company, valued at $7,620,607.50. This trade represents a 3.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Mark Frichtl sold 30,000 shares of Ouster stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $25.15, for a total value of $754,500.00. Following the sale, the chief technology officer directly owned 712,297 shares of the company's stock, valued at approximately $17,914,269.55. This represents a 4.04% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 198,409 shares of company stock valued at $4,586,922. Company insiders own 6.63% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of OUST. Vanguard Group Inc. lifted its holdings in shares of Ouster by 11.3% during the third quarter. Vanguard Group Inc. now owns 4,720,264 shares of the company's stock worth $127,683,000 after purchasing an additional 478,372 shares during the period. Geode Capital Management LLC increased its holdings in Ouster by 9.1% in the 4th quarter. Geode Capital Management LLC now owns 1,421,130 shares of the company's stock worth $30,758,000 after buying an additional 118,132 shares during the period. Penn Capital Management Company LLC increased its holdings in Ouster by 24.1% in the 4th quarter. Penn Capital Management Company LLC now owns 775,297 shares of the company's stock worth $16,817,000 after buying an additional 150,337 shares during the period. Handelsbanken Fonder AB raised its position in Ouster by 130.7% during the 4th quarter. Handelsbanken Fonder AB now owns 715,646 shares of the company's stock worth $15,479,000 after buying an additional 405,441 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Ouster by 1,521.8% during the 2nd quarter. Invesco Ltd. now owns 571,662 shares of the company's stock valued at $13,863,000 after acquiring an additional 536,413 shares during the period. 31.45% of the stock is owned by institutional investors and hedge funds.

Ouster Company Profile

Ouster, Inc is a leading provider of high-resolution digital lidar sensors, software and services designed to enable advanced perception capabilities across a range of industries. Headquartered in San Francisco, California, the company develops modular lidar solutions that capture precise three-dimensional data in real time, supporting applications from autonomous vehicles and robotics to mapping, smart infrastructure and industrial automation.

The company's core product lineup features multi-beam digital lidar units available in various form factors, including compact models for robotics and drones and larger units for automotive and mapping systems.

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