Ouster, Inc. (NYSE:OUST) Sees Large Drop in Short Interest

Ouster, Inc. (NYSE:OUST) saw a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 4,210,000 shares, a decline of 15.1% from the February 28th total of 4,960,000 shares. Based on an average daily trading volume, of 1,540,000 shares, the short-interest ratio is presently 2.7 days. Approximately 8.6% of the shares of the stock are short sold.

Insider Buying and Selling

In other news, General Counsel Megan Chung sold 5,800 shares of the firm’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $11.24, for a total value of $65,192.00. Following the transaction, the general counsel now owns 220,762 shares in the company, valued at $2,481,364.88. This trade represents a 2.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders have sold 9,099 shares of company stock worth $90,460. Insiders own 7.81% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in OUST. Intech Investment Management LLC purchased a new position in shares of Ouster during the 3rd quarter worth approximately $81,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Ouster by 10.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 356,407 shares of the company’s stock valued at $2,245,000 after purchasing an additional 34,743 shares during the period. Centiva Capital LP purchased a new position in Ouster in the 3rd quarter valued at approximately $167,000. Stifel Financial Corp grew its stake in shares of Ouster by 286.7% in the third quarter. Stifel Financial Corp now owns 59,718 shares of the company’s stock worth $376,000 after acquiring an additional 44,275 shares in the last quarter. Finally, State Street Corp increased its position in shares of Ouster by 2.4% during the third quarter. State Street Corp now owns 1,649,540 shares of the company’s stock worth $10,392,000 after acquiring an additional 37,926 shares during the period. 31.45% of the stock is currently owned by hedge funds and other institutional investors.

Ouster Stock Down 8.6 %

Shares of Ouster stock traded down $0.77 during mid-day trading on Thursday, hitting $8.15. The stock had a trading volume of 899,544 shares, compared to its average volume of 1,289,712. The firm has a 50-day moving average of $9.25 and a two-hundred day moving average of $9.15. The firm has a market cap of $405.68 million, a P/E ratio of -3.16 and a beta of 2.38. Ouster has a 12-month low of $5.84 and a 12-month high of $16.88.

Analyst Ratings Changes

A number of research analysts have weighed in on OUST shares. Cantor Fitzgerald raised their price objective on Ouster from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Friday, March 21st. Westpark Capital assumed coverage on shares of Ouster in a research note on Monday, March 17th. They issued a “hold” rating on the stock. Northland Securities began coverage on shares of Ouster in a research note on Thursday, December 12th. They set an “outperform” rating and a $14.00 price objective for the company. Rosenblatt Securities reissued a “buy” rating and issued a $17.00 target price on shares of Ouster in a research note on Friday, March 21st. Finally, Oppenheimer started coverage on Ouster in a research report on Thursday, March 27th. They issued an “outperform” rating and a $16.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.00.

About Ouster

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.