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

Ouster, Inc. (NYSE:OUST) shares saw strong trading volume on Wednesday . 2,457,656 shares were traded 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.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $40.00 price target on shares of Ouster in a research report on Tuesday, March 3rd. Oppenheimer reiterated an “outperform” rating and set a $40.00 price target on shares of Ouster in a research report on Tuesday, March 3rd. Finally, Cantor Fitzgerald lowered shares of Ouster from an “overweight” rating to a “neutral” rating in a research report on Thursday, May 7th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Ouster presently has a consensus rating of “Moderate Buy” and an average price target of $40.20.

Ouster Price Performance

The stock has a market cap of $2.06 billion, a price-to-earnings ratio of -12.83 and a beta of 3.06. The business’s 50-day simple moving average is $22.71 and its two-hundred day simple moving average is $23.34.

Insider Buying and Selling at Ouster

In other Ouster news, Director Stephen A. Skaggs sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $30.00, for a total value of $150,000.00. Following the sale, the director owned 61,690 shares in the company, valued at $1,850,700. This trade represents a 7.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CTO Mark Frichtl sold 13,451 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $30.00, for a total transaction of $403,530.00. Following the completion of the sale, the chief technology officer owned 712,297 shares in the company, valued at $21,368,910. This represents a 1.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 303,409 shares of company stock worth $7,524,471 over the last quarter. Corporate insiders own 6.63% of the company’s stock.

Hedge Funds Weigh In On Ouster

Large investors have recently modified their holdings of the business. NewEdge Advisors LLC raised its stake in shares of Ouster by 2,532.6% during the second quarter. NewEdge Advisors LLC now owns 1,132 shares of the company’s stock valued at $27,000 after acquiring an additional 1,089 shares during the last quarter. Larson Financial Group LLC raised its stake in shares of Ouster by 118.8% during the fourth quarter. Larson Financial Group LLC now owns 1,965 shares of the company’s stock valued at $43,000 after acquiring an additional 1,067 shares during the last quarter. Gordian Capital Singapore Pte Ltd raised its stake in shares of Ouster by 38.1% during the third quarter. Gordian Capital Singapore Pte Ltd now owns 2,900 shares of the company’s stock valued at $78,000 after acquiring an additional 800 shares during the last quarter. SHP Wealth Management bought a new position in shares of Ouster during the fourth quarter valued at $96,000. Finally, Van ECK Associates Corp raised its stake in shares of Ouster by 17.1% during the third quarter. Van ECK Associates Corp now owns 3,590 shares of the company’s stock valued at $97,000 after acquiring an additional 525 shares during the last quarter. Institutional investors own 31.45% of the company’s stock.

Ouster Company Profile

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.