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

Ouster, Inc. (NYSE:OUST) was the target of a significant 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. Based on an average daily trading volume, of 1,100,000 shares, the days-to-cover ratio is currently 4.4 days. Currently, 10.6% of the company’s stock are sold short.

Insider Buying and Selling at Ouster

In other Ouster news, CFO Mark Weinswig sold 31,397 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $8.72, for a total value of $273,781.84. Following the sale, the chief financial officer now directly owns 198,650 shares of the company’s stock, valued at approximately $1,732,228. The trade was a 13.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 40,425 shares of company stock valued at $329,394. 7.81% of the stock is currently owned by company insiders.

Institutional Trading of Ouster

Large investors have recently modified their holdings of the company. Van ECK Associates Corp grew its position in Ouster by 28.4% during the third quarter. Van ECK Associates Corp now owns 7,264 shares of the company’s stock valued at $46,000 after buying an additional 1,608 shares during the period. 180 Wealth Advisors LLC grew its position in shares of Ouster by 8.5% during the 2nd quarter. 180 Wealth Advisors LLC now owns 23,168 shares of the company’s stock valued at $228,000 after acquiring an additional 1,823 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Ouster in the second quarter worth about $27,000. Ballentine Partners LLC purchased a new position in shares of Ouster during the 2nd quarter valued at about $101,000. Finally, Stoneridge Investment Partners LLC bought a new position in shares of Ouster during the 3rd quarter valued at approximately $67,000. Institutional investors own 31.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on OUST. 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. Craig Hallum decreased their price target on Ouster from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, August 14th. Westpark Capital reaffirmed a “buy” rating and set a $17.00 price target on shares of Ouster in a report on Monday, August 12th. Finally, Cantor Fitzgerald upgraded Ouster from a “neutral” rating to an “overweight” rating and reduced their price objective for the stock from $12.00 to $10.00 in a report on Monday, November 11th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Ouster currently has an average rating of “Moderate Buy” and a consensus price target of $13.00.

Ouster Trading Up 3.5 %

NYSE:OUST traded up $0.33 during trading hours on Friday, reaching $9.88. The company had a trading volume of 683,003 shares, compared to its average volume of 1,156,536. The firm’s 50 day moving average price is $7.64 and its 200-day moving average price is $9.43. The firm has a market cap of $491.73 million, a price-to-earnings ratio of -3.84 and a beta of 2.34. Ouster has a 52 week low of $4.65 and a 52 week high of $16.88.

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.