Ouster (NASDAQ:OUST) Trading 9.8% Higher – What’s Next?

Ouster, Inc. (NASDAQ:OUST) shares traded up 9.8% during trading on Friday . The stock traded as high as $46.15 and last traded at $46.49. 2,773,701 shares changed hands during trading, an increase of 2% from the average session volume of 2,721,029 shares. The stock had previously closed at $42.33.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Cantor Fitzgerald downgraded shares of Ouster from an “overweight” rating to a “neutral” rating in a report on Thursday, May 7th. Oppenheimer reissued an “outperform” rating and set a $40.00 price objective on shares of Ouster in a report on Tuesday, March 3rd. Rosenblatt Securities increased their price objective on shares of Ouster from $40.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday. Weiss Ratings assumed coverage on shares of Ouster in a report on Friday, May 15th. They set a “sell (d-)” rating for the company. Finally, Roth Mkm assumed coverage on shares of Ouster in a report on Friday. They set a “buy” rating and a $75.00 price objective for the company. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $48.17.

Ouster Stock Performance

The stock’s fifty day moving average is $26.18 and its 200 day moving average is $23.76. The stock has a market cap of $2.90 billion, a P/E ratio of -47.66 and a beta of 3.06.

Insider Activity

In related news, CTO Mark Frichtl sold 308,742 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $41.53, for a total value of $12,822,055.26. Following the sale, the chief technology officer directly owned 294,924 shares of the company’s stock, valued at $12,248,193.72. This represents a 51.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Cyrille Jacquemet sold 9,433 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $40.00, for a total transaction of $377,320.00. Following the completion of the sale, the executive directly owned 123,158 shares in the company, valued at $4,926,320. This trade represents a 7.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 927,334 shares of company stock valued at $31,530,882. Company insiders own 5.72% of the company’s stock.

Hedge Funds Weigh In On Ouster

A number of institutional investors have recently modified their holdings of the stock. Bank of America Corp DE increased its position in shares of Ouster by 114.6% during the first quarter. Bank of America Corp DE now owns 217,390 shares of the company’s stock worth $3,993,000 after acquiring an additional 116,096 shares during the period. Janus Henderson Group PLC increased its position in shares of Ouster by 706.0% during the first quarter. Janus Henderson Group PLC now owns 177,895 shares of the company’s stock worth $3,268,000 after acquiring an additional 155,825 shares during the period. Amundi increased its position in shares of Ouster by 40.1% during the first quarter. Amundi now owns 21,921 shares of the company’s stock worth $403,000 after acquiring an additional 6,278 shares during the period. California State Teachers Retirement System increased its position in shares of Ouster by 50.3% during the first quarter. California State Teachers Retirement System now owns 79,401 shares of the company’s stock worth $1,459,000 after acquiring an additional 26,574 shares during the period. Finally, Royal Bank of Canada increased its position in shares of Ouster by 34.4% during the first quarter. Royal Bank of Canada now owns 5,888 shares of the company’s stock worth $108,000 after acquiring an additional 1,507 shares during the period. 31.45% of the stock is owned by hedge funds and other 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.