Ouster, Inc. (NYSE:OUST) Sees Significant Decrease in Short Interest

Ouster, Inc. (NYSE:OUST) was the recipient of a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 4,800,000 shares, a drop of 20.0% from the October 31st total of 6,000,000 shares. Currently, 10.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,100,000 shares, the days-to-cover ratio is presently 4.4 days.

Insider Buying and Selling at Ouster

In related news, CFO Mark Weinswig sold 31,397 shares of Ouster stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $8.72, for a total value of $273,781.84. Following the transaction, the chief financial officer now directly owns 198,650 shares of the company’s stock, valued at $1,732,228. This trade represents a 13.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 40,425 shares of company stock valued at $329,394 in the last ninety days. 7.81% of the stock is currently owned by company insiders.

Institutional Trading of Ouster

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Ouster by 7.6% during the 1st quarter. Vanguard Group Inc. now owns 2,328,823 shares of the company’s stock worth $18,491,000 after buying an additional 164,360 shares during the period. State Street Corp raised its position in shares of Ouster by 2.4% during the third quarter. State Street Corp now owns 1,649,540 shares of the company’s stock worth $10,392,000 after acquiring an additional 37,926 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Ouster by 6.8% in the third quarter. Geode Capital Management LLC now owns 975,407 shares of the company’s stock worth $6,146,000 after acquiring an additional 62,202 shares during the period. Marshall Wace LLP boosted its holdings in Ouster by 184.9% in the second quarter. Marshall Wace LLP now owns 653,530 shares of the company’s stock valued at $6,424,000 after acquiring an additional 424,178 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Ouster by 10.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 356,407 shares of the company’s stock worth $2,245,000 after purchasing an additional 34,743 shares during the last quarter. Institutional investors own 31.45% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Craig Hallum dropped their target price on shares of Ouster from $13.00 to $11.00 and set a “buy” rating for the company in a report on Wednesday, August 14th. Cantor Fitzgerald upgraded shares of Ouster from a “neutral” rating to an “overweight” rating and cut their target price for the company from $12.00 to $10.00 in a research report on Monday, November 11th. Westpark Capital reiterated a “buy” rating and set a $17.00 price target on shares of Ouster in a report on Monday, August 12th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $17.00 price target on shares of Ouster in a research note on Friday, November 8th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $13.00.

Ouster Price Performance

OUST opened at $9.88 on Monday. Ouster has a fifty-two week low of $4.65 and a fifty-two week high of $16.88. The company’s 50 day moving average price is $7.71 and its two-hundred day moving average price is $9.39. The firm has a market capitalization of $491.74 million, a price-to-earnings ratio of -3.84 and a beta of 2.34.

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.