Ouster (NYSE:OUST) Trading Up 6.3% – What’s Next?

Ouster, Inc. (NYSE:OUST)’s share price traded up 6.3% during trading on Friday . The company traded as high as $10.54 and last traded at $10.51. 186,612 shares traded hands during trading, a decline of 88% from the average session volume of 1,556,532 shares. The stock had previously closed at $9.88.

Analysts Set New Price Targets

Several research firms have recently weighed in on OUST. Northland Capmk upgraded shares of Ouster to a “strong-buy” rating in a research note on Thursday, December 12th. Northland Securities began coverage on shares of Ouster in a research report on Thursday, December 12th. They set an “outperform” rating and a $14.00 price target on the stock. Rosenblatt Securities restated a “buy” rating and set a $17.00 price objective on shares of Ouster in a research report on Friday, November 8th. Finally, Cantor Fitzgerald upgraded Ouster from a “neutral” rating to an “overweight” rating and decreased their price target for the company from $12.00 to $10.00 in a research note on Monday, November 11th. One 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 company. According to MarketBeat.com, Ouster has an average rating of “Buy” and a consensus price target of $13.17.

Ouster Trading Up 3.9 %

The business has a fifty day moving average of $10.93 and a 200-day moving average of $9.40. The firm has a market cap of $510.99 million, a PE ratio of -4.00 and a beta of 2.39.

Ouster (NYSE:OUST) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.54) earnings per share (EPS) for the quarter. The company had revenue of $28.08 million for the quarter. Ouster had a negative net margin of 106.50% and a negative return on equity of 65.17%. During the same quarter in the prior year, the company earned ($0.89) EPS. On average, equities analysts forecast that Ouster, Inc. will post -2.2 EPS for the current year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Van ECK Associates Corp grew its stake in Ouster by 28.4% during the 3rd quarter. Van ECK Associates Corp now owns 7,264 shares of the company’s stock valued at $46,000 after purchasing an additional 1,608 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Ouster during the 2nd quarter valued at approximately $27,000. SG Americas Securities LLC lifted its stake in shares of Ouster by 19.9% in the 4th quarter. SG Americas Securities LLC now owns 19,652 shares of the company’s stock valued at $240,000 after purchasing an additional 3,261 shares during the period. Rhumbline Advisers grew its position in shares of Ouster by 6.6% during the 4th quarter. Rhumbline Advisers now owns 79,191 shares of the company’s stock valued at $968,000 after acquiring an additional 4,900 shares during the period. Finally, Legato Capital Management LLC increased its stake in shares of Ouster by 16.3% in the 4th quarter. Legato Capital Management LLC now owns 65,860 shares of the company’s stock valued at $805,000 after purchasing an additional 9,228 shares in the last quarter. Hedge funds and other institutional investors own 31.45% of the company’s stock.

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.