Traders Purchase High Volume of Call Options on Ouster (NASDAQ:OUST)

Ouster, Inc. (NASDAQ:OUST) was the target of some unusual options trading activity on Monday. Traders acquired 10,857 call options on the stock. This is an increase of approximately 101% compared to the typical volume of 5,405 call options.

Ouster Stock Down 11.8%

Shares of OUST traded down $4.12 during trading on Monday, reaching $30.74. 9,156,487 shares of the company traded hands, compared to its average volume of 2,507,208. Ouster has a twelve month low of $9.77 and a twelve month high of $41.65. The stock has a market cap of $1.93 billion, a PE ratio of -11.96 and a beta of 3.06. The stock has a 50-day simple moving average of $23.50 and a 200-day simple moving average of $23.33.

Insider Activity

In related news, CTO Mark Frichtl sold 4,316 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $36.00, for a total value of $155,376.00. Following the transaction, the chief technology officer directly owned 628,638 shares in the company, valued at approximately $22,630,968. This represents a 0.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Megan Chung sold 5,837 shares of the stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $24.70, for a total value of $144,173.90. Following the completion of the transaction, the general counsel owned 213,836 shares of the company’s stock, valued at $5,281,749.20. The trade was a 2.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 484,159 shares of company stock valued at $13,522,138 in the last 90 days. Company insiders own 5.72% of the company’s stock.

Institutional Investors Weigh In On Ouster

A number of institutional investors have recently made changes to their positions in the stock. NewEdge Advisors LLC boosted its stake in shares of 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 during the period. Larson Financial Group LLC grew its holdings in shares of 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 grew its holdings in shares of 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. SHP Wealth Management acquired a new position in shares of Ouster in the fourth quarter valued at approximately $96,000. Finally, Van ECK Associates Corp grew its holdings in shares of 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. 31.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on OUST shares. Rosenblatt Securities reiterated a “buy” rating and set a $40.00 price target on shares of Ouster in a report on Tuesday, March 3rd. Cantor Fitzgerald lowered shares of Ouster from an “overweight” rating to a “neutral” rating in a report on Thursday, May 7th. Weiss Ratings initiated coverage on shares of Ouster in a research note on Friday. They set a “sell (d-)” rating for the company. Finally, Oppenheimer reiterated an “outperform” rating and set a $40.00 price target on shares of Ouster in a research report on Tuesday, March 3rd. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Ouster has a consensus rating of “Hold” and an average price target of $40.20.

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.