Ouster, Inc. (NYSE:OUST) Short Interest Down 15.1% in March

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

Ouster Price Performance

OUST stock traded down $0.77 during midday trading on Thursday, hitting $8.15. 899,544 shares of the stock traded hands, compared to its average volume of 1,289,712. Ouster has a 1-year low of $5.84 and a 1-year high of $16.88. The stock’s fifty day simple moving average is $9.25 and its 200-day simple moving average is $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.

Insider Buying and Selling

In related news, General Counsel Megan Chung sold 5,800 shares of the firm’s stock in a transaction 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 completion of 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 9,099 shares of company stock worth $90,460 in the last three months. Corporate insiders own 7.81% of the company’s stock.

Institutional Investors Weigh In On Ouster

Institutional investors have recently modified their holdings of the business. Intech Investment Management LLC purchased a new position in Ouster during the third quarter worth approximately $81,000. Daiwa Securities Group Inc. raised its stake in shares of Ouster by 18.0% during the 4th quarter. Daiwa Securities Group Inc. now owns 6,977 shares of the company’s stock worth $85,000 after buying an additional 1,063 shares during the period. AlphaQuest LLC lifted its position in shares of Ouster by 916.0% during the 4th quarter. AlphaQuest LLC now owns 8,270 shares of the company’s stock valued at $101,000 after buying an additional 7,456 shares in the last quarter. ExodusPoint Capital Management LP acquired a new stake in Ouster in the 4th quarter valued at $154,000. Finally, SVB Wealth LLC purchased a new stake in Ouster in the 4th quarter worth $163,000. 31.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OUST has been the subject of a number of research reports. Northland Securities assumed coverage on Ouster in a report on Thursday, December 12th. They set an “outperform” rating and a $14.00 target price for the company. Westpark Capital started coverage on shares of Ouster in a research note on Monday, March 17th. They set a “hold” rating for the company. Oppenheimer initiated coverage on shares of Ouster in a research note on Thursday, March 27th. They issued an “outperform” rating and a $16.00 price objective on the stock. Northland Capmk upgraded shares of Ouster to a “strong-buy” rating in a research report on Thursday, December 12th. Finally, Cantor Fitzgerald upped their price target on shares of Ouster from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Friday, March 21st. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.