Stock 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 Monday. Stock traders bought 3,079 call options on the stock. This represents an increase of 47% compared to the typical daily volume of 2,101 call options.

Insider Buying and Selling

In related news, General Counsel Megan Chung sold 5,800 shares of the business’s stock in a transaction dated Wednesday, March 26th. The shares were 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 of the company’s stock, valued at approximately $2,481,364.88. The trade was a 2.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 9,099 shares of company stock worth $90,460 in the last three months. Corporate insiders own 6.63% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Daiwa Securities Group Inc. increased its holdings in shares of Ouster by 18.0% during the fourth quarter. Daiwa Securities Group Inc. now owns 6,977 shares of the company’s stock valued at $85,000 after purchasing an additional 1,063 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Ouster by 1.1% during the fourth quarter. Bank of New York Mellon Corp now owns 101,959 shares of the company’s stock valued at $1,246,000 after purchasing an additional 1,074 shares during the period. Invesco Ltd. grew its holdings in Ouster by 7.3% during the fourth quarter. Invesco Ltd. now owns 20,575 shares of the company’s stock worth $251,000 after acquiring an additional 1,391 shares during the period. Fox Run Management L.L.C. grew its holdings in Ouster by 4.9% during the fourth quarter. Fox Run Management L.L.C. now owns 31,511 shares of the company’s stock worth $385,000 after acquiring an additional 1,463 shares during the period. Finally, Intrua Financial LLC grew its holdings in Ouster by 16.4% during the first quarter. Intrua Financial LLC now owns 13,962 shares of the company’s stock worth $125,000 after acquiring an additional 1,970 shares during the period. 31.45% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $17.00 target price on shares of Ouster in a research note on Friday, March 21st. Oppenheimer started coverage on shares of Ouster in a research report on Thursday, March 27th. They set an “outperform” rating and a $16.00 target price for the company. Westpark Capital upgraded Ouster from a “hold” rating to a “buy” rating and set a $13.68 price target for the company in a report on Friday, May 9th. Cantor Fitzgerald increased their target price on Ouster from $10.00 to $11.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Finally, UBS Group set a $16.00 price target on Ouster in a research report on Thursday, March 27th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $14.10.

Ouster Stock Performance

Shares of OUST opened at $15.19 on Tuesday. The firm has a market capitalization of $816.71 million, a price-to-earnings ratio of -5.91 and a beta of 2.48. Ouster has a one year low of $5.84 and a one year high of $16.88. The stock’s fifty day moving average is $9.36 and its 200-day moving average is $9.84.

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.