Ouster (NYSE:OUST) Trading 7.2% Higher – What’s Next?

Shares of Ouster, Inc. (NYSE:OUST) rose 7.2% during mid-day trading on Friday . The company traded as high as $30.20 and last traded at $29.6710. Approximately 1,023,603 shares were traded during mid-day trading, a decline of 44% from the average daily volume of 1,821,188 shares. The stock had previously closed at $27.68.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Northland Securities set a $38.00 target price on Ouster in a research note on Wednesday, November 5th. Cantor Fitzgerald set a $33.00 price target on Ouster in a report on Thursday, November 6th. Oppenheimer reaffirmed an “outperform” rating on shares of Ouster in a report on Thursday, December 4th. Westpark Capital reiterated a “buy” rating and issued a $50.00 target price on shares of Ouster in a research report on Wednesday, November 5th. Finally, Zacks Research cut shares of Ouster from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 13th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Ouster presently has an average rating of “Moderate Buy” and an average price target of $32.17.

Ouster Stock Up 2.7%

The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of -11.11 and a beta of 2.93. The firm’s 50 day moving average is $23.63 and its 200 day moving average is $26.85.

Insider Buying and Selling at Ouster

In related news, Director Ted L. Tewksbury III sold 1,695 shares of the stock in a transaction on Friday, December 19th. The stock was sold at an average price of $21.47, for a total value of $36,391.65. Following the completion of the transaction, the director owned 123,664 shares in the company, valued at $2,655,066.08. This trade represents a 1.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Megan Chung sold 5,837 shares of the business’s stock in a transaction dated Friday, October 17th. The stock was sold at an average price of $31.02, for a total value of $181,063.74. Following the sale, the general counsel owned 197,199 shares in the company, valued at approximately $6,117,112.98. The trade was a 2.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 9,227 shares of company stock valued at $260,474. Corporate insiders own 6.63% of the company’s stock.

Institutional Investors Weigh In On Ouster

A number of large investors have recently made changes to their positions in the company. NewEdge Advisors LLC boosted its stake in Ouster by 2,532.6% in the 2nd quarter. NewEdge Advisors LLC now owns 1,132 shares of the company’s stock worth $27,000 after purchasing an additional 1,089 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of Ouster by 153.3% in the second quarter. Nisa Investment Advisors LLC now owns 1,211 shares of the company’s stock valued at $29,000 after purchasing an additional 733 shares in the last quarter. TD Waterhouse Canada Inc. lifted its holdings in shares of Ouster by 8,823.5% in the second quarter. TD Waterhouse Canada Inc. now owns 1,517 shares of the company’s stock valued at $37,000 after purchasing an additional 1,500 shares in the last quarter. North Capital Inc. boosted its position in shares of Ouster by 102.7% in the second quarter. North Capital Inc. now owns 3,000 shares of the company’s stock worth $73,000 after buying an additional 1,520 shares during the period. Finally, Game Plan Financial Advisors LLC boosted its position in shares of Ouster by 400.0% in the second quarter. Game Plan Financial Advisors LLC now owns 3,000 shares of the company’s stock worth $73,000 after buying an additional 2,400 shares during the period. Institutional investors and hedge funds own 31.45% of the company’s stock.

About Ouster

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.