Ouster (NYSE:OUST) Stock Price Up 6.4% – Here’s What Happened

Ouster, Inc. (NYSE:OUST)’s stock price rose 6.4% during mid-day trading on Friday . The stock traded as high as $13.25 and last traded at $13.14. Approximately 407,789 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 988,935 shares. The stock had previously closed at $12.35.

Analyst Upgrades and Downgrades

OUST has been the topic of several research analyst reports. Cantor Fitzgerald raised Ouster from a “neutral” rating to an “overweight” rating and decreased their price target for the stock from $12.00 to $10.00 in a research note on Monday, November 11th. Rosenblatt Securities reiterated a “buy” rating and set a $17.00 target price on shares of Ouster in a research report on Friday, November 8th. Northland Securities began coverage on Ouster in a research report on Thursday, December 12th. They issued an “outperform” rating and a $14.00 price target for the company. Finally, Northland Capmk raised shares of Ouster to a “strong-buy” rating in a research note on Thursday, December 12th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $13.17.

Ouster Price Performance

The stock has a market cap of $728.65 million, a PE ratio of -5.70 and a beta of 2.50. The stock has a 50-day simple moving average of $9.78 and a 200-day simple moving average of $9.29.

Insider Buying and Selling

In other news, CEO Charles Angus Pacala acquired 50,954 shares of the stock in a transaction on Thursday, December 12th. The stock was bought at an average price of $9.79 per share, with a total value of $498,839.66. Following the completion of the transaction, the chief executive officer now directly owns 769,957 shares of the company’s stock, valued at $7,537,879.03. The trade was a 7.09 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Megan Chung sold 13,671 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $9.69, for a total transaction of $132,471.99. Following the completion of the transaction, the general counsel now owns 149,647 shares of the company’s stock, valued at $1,450,079.43. This trade represents a 8.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 80,415 shares of company stock valued at $748,620. Company insiders own 7.81% of the company’s stock.

Hedge Funds Weigh In On Ouster

Institutional investors have recently made changes to their positions in the business. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Ouster in the 2nd quarter valued at about $27,000. Van ECK Associates Corp raised its stake in Ouster by 28.4% during the third quarter. Van ECK Associates Corp now owns 7,264 shares of the company’s stock valued at $46,000 after buying an additional 1,608 shares in the last quarter. Stoneridge Investment Partners LLC acquired a new stake in Ouster during the third quarter valued at approximately $67,000. True North Advisors LLC bought a new position in Ouster during the 3rd quarter worth approximately $78,000. Finally, Intech Investment Management LLC acquired a new position in shares of Ouster in the 3rd quarter worth approximately $81,000. 31.45% of the stock is owned by institutional investors and hedge funds.

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.