Ouster (NYSE:OUST) Sees Strong Trading Volume – Here’s Why

Shares of Ouster, Inc. (NYSE:OUST) saw strong trading volume on Wednesday . 2,457,656 shares changed hands during trading, an increase of 12% from the previous session’s volume of 2,201,235 shares.The stock last traded at $28.2610 and had previously closed at $27.10.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on OUST shares. Oppenheimer reissued an “outperform” rating and set a $40.00 target price on shares of Ouster in a research note on Tuesday, March 3rd. Cantor Fitzgerald downgraded shares of Ouster from an “overweight” rating to a “neutral” rating in a research note on Thursday, May 7th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $40.00 target price on shares of Ouster in a research note on Tuesday, March 3rd. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Ouster presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.20.

Ouster Stock Up 21.0%

The business’s 50 day moving average is $22.71 and its two-hundred day moving average is $23.34. The firm has a market cap of $2.06 billion, a P/E ratio of -12.83 and a beta of 3.06.

Insider Buying and Selling at Ouster

In other Ouster news, CTO Mark Frichtl sold 13,451 shares of Ouster stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $30.00, for a total value of $403,530.00. Following the completion of the sale, the chief technology officer directly owned 712,297 shares of the company’s stock, valued at approximately $21,368,910. The trade was a 1.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Stephen A. Skaggs sold 5,000 shares of Ouster stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $30.00, for a total transaction of $150,000.00. Following the completion of the sale, the director directly owned 61,690 shares of the company’s stock, valued at approximately $1,850,700. This trade represents a 7.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 303,409 shares of company stock valued at $7,524,471. Corporate insiders own 6.63% of the company’s stock.

Institutional Investors Weigh In On Ouster

Hedge funds and other institutional investors have recently bought and sold shares of the stock. NewEdge Advisors LLC increased its stake in Ouster by 2,532.6% in the second quarter. NewEdge Advisors LLC now owns 1,132 shares of the company’s stock valued at $27,000 after purchasing an additional 1,089 shares in the last quarter. Larson Financial Group LLC increased its stake in Ouster by 118.8% in the fourth quarter. Larson Financial Group LLC now owns 1,965 shares of the company’s stock valued at $43,000 after purchasing an additional 1,067 shares in the last quarter. Gordian Capital Singapore Pte Ltd increased its stake in Ouster by 38.1% in the third quarter. Gordian Capital Singapore Pte Ltd now owns 2,900 shares of the company’s stock valued at $78,000 after purchasing an additional 800 shares in the last quarter. Van ECK Associates Corp increased its stake in Ouster by 17.1% in the third quarter. Van ECK Associates Corp now owns 3,590 shares of the company’s stock valued at $97,000 after purchasing an additional 525 shares in the last quarter. Finally, Banque Cantonale Vaudoise bought a new stake in Ouster in the third quarter valued at $120,000. 31.45% of the stock is owned by institutional investors.

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.