Ouster (NYSE:OUST) Shares Up 7% – Here’s What Happened

Ouster, Inc. (NYSE:OUST) traded up 7% on Thursday . The stock traded as high as $11.26 and last traded at $11.00. 908,776 shares traded hands during mid-day trading, a decline of 39% from the average session volume of 1,501,888 shares. The stock had previously closed at $10.28.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Cantor Fitzgerald upgraded shares of Ouster from a “neutral” rating to an “overweight” rating and reduced their target price for the stock from $12.00 to $10.00 in a report on Monday, November 11th. Rosenblatt Securities reiterated a “buy” rating and issued a $17.00 price objective on shares of Ouster in a research note on Friday, November 8th. Northland Capmk upgraded Ouster to a “strong-buy” rating in a report on Thursday, December 12th. Finally, Northland Securities started coverage on Ouster in a research note on Thursday, December 12th. They issued an “outperform” rating and a $14.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $13.17.

Ouster Stock Performance

The firm has a 50-day moving average price of $10.96 and a two-hundred day moving average price of $9.21. The firm has a market cap of $539.86 million, a price-to-earnings ratio of -4.21 and a beta of 2.36.

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

Insider Buying and Selling

In other Ouster news, CTO Mark Frichtl bought 5,045 shares of Ouster stock in a transaction on Thursday, December 12th. The stock was bought at an average price of $9.78 per share, with a total value of $49,340.10. Following the completion of the acquisition, the chief technology officer now owns 513,121 shares in the company, valued at $5,018,323.38. The trade was a 0.99 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Megan Chung sold 13,671 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $9.69, for a total transaction 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. This represents a 8.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 80,415 shares of company stock valued at $748,620 over the last quarter. 7.81% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ouster

Institutional investors and hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company purchased a new stake in Ouster in the 2nd quarter valued at about $163,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Ouster in the second quarter worth about $27,000. True North Advisors LLC acquired a new stake in Ouster in the third quarter valued at approximately $78,000. Lake Street Advisors Group LLC increased its stake in Ouster by 150.0% during the 3rd quarter. Lake Street Advisors Group LLC now owns 25,000 shares of the company’s stock worth $158,000 after buying an additional 15,000 shares during the period. Finally, Van ECK Associates Corp increased its position in shares of Ouster by 28.4% during the third quarter. Van ECK Associates Corp now owns 7,264 shares of the company’s stock worth $46,000 after acquiring an additional 1,608 shares during the last quarter. Hedge funds and other institutional investors own 31.45% of the company’s stock.

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.