Traders Buy Large Volume of Call Options on Ouster (NYSE:OUST)

Ouster, Inc. (NYSE:OUST) was the target of unusually large options trading activity on Thursday. Stock investors bought 2,205 call options on the stock. This represents an increase of 51% compared to the average daily volume of 1,456 call options.

Insiders Place Their Bets

In other Ouster news, CFO Mark Weinswig sold 31,397 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $8.72, for a total value of $273,781.84. Following the sale, the chief financial officer now owns 198,650 shares in the company, valued at approximately $1,732,228. This represents a 13.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Mark Frichtl bought 5,045 shares of the stock in a transaction dated Thursday, December 12th. The shares were acquired 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 directly owns 513,121 shares of the company’s stock, valued at approximately $5,018,323.38. The trade was a 0.99 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 80,415 shares of company stock worth $748,620 over the last three months. Company insiders own 7.81% of the company’s stock.

Hedge Funds Weigh In On Ouster

Hedge funds have recently bought and sold shares of the business. State Street Corp boosted its holdings in shares of Ouster by 2.4% during the 3rd quarter. State Street Corp now owns 1,649,540 shares of the company’s stock valued at $10,392,000 after acquiring an additional 37,926 shares during the last quarter. Geode Capital Management LLC boosted its holdings in 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 purchasing an additional 62,202 shares during the last quarter. 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 worth $6,424,000 after purchasing an additional 424,178 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Ouster by 10.8% in 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 period. Finally, Bank of New York Mellon Corp purchased a new stake in Ouster during the 2nd quarter valued at $1,305,000. Hedge funds and other institutional investors own 31.45% of the company’s stock.

Ouster Price Performance

OUST stock opened at $11.98 on Friday. The stock has a market capitalization of $596.26 million, a P/E ratio of -4.66 and a beta of 2.50. Ouster has a 1-year low of $4.65 and a 1-year high of $16.88. The business has a fifty day moving average price of $8.77 and a 200-day moving average price of $9.19.

Wall Street Analysts Forecast Growth

OUST has been the subject of a number of analyst reports. Cantor Fitzgerald raised Ouster from a “neutral” rating to an “overweight” rating and reduced their price objective for the company from $12.00 to $10.00 in a research report on Monday, November 11th. Northland Capmk raised Ouster to a “strong-buy” rating in a research note on Thursday, December 12th. Northland Securities began coverage on Ouster in a research report on Thursday, December 12th. They issued an “outperform” rating and a $14.00 price target for the company. 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 investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $13.17.

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.