Ouster (NASDAQ:OUST) Reaches New 1-Year High on Analyst Upgrade

Ouster, Inc. (NASDAQ:OUST)’s share price reached a new 52-week high during trading on Wednesday after Rosenblatt Securities raised their price target on the stock from $40.00 to $53.00. Rosenblatt Securities currently has a buy rating on the stock. Ouster traded as high as $45.42 and last traded at $42.70, with a volume of 8578035 shares. The stock had previously closed at $37.03.

OUST has been the topic of a number of other reports. Weiss Ratings started coverage on Ouster in a research note on Friday, May 15th. They issued a “sell (d-)” rating on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $40.00 price objective on shares of Ouster in a research note on Tuesday, March 3rd. Finally, Cantor Fitzgerald lowered Ouster from an “overweight” rating to a “neutral” rating in a research note on Thursday, May 7th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Ouster has a consensus rating of “Hold” and a consensus price target of $42.80.

Insider Buying and Selling at Ouster

In other news, COO Darien Spencer sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $45.00, for a total transaction of $1,350,000.00. Following the transaction, the chief operating officer directly owned 342,366 shares of the company’s stock, valued at $15,406,470. This represents a 8.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Mark Frichtl sold 308,742 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $41.53, for a total value of $12,822,055.26. Following the transaction, the chief technology officer directly owned 294,924 shares in the company, valued at $12,248,193.72. The trade was a 51.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 927,334 shares of company stock valued at $31,530,882. 5.72% of the stock is currently owned by company insiders.

Ouster News Roundup

Here are the key news stories impacting Ouster this week:

• Positive Sentiment: Rosenblatt Securities raised its price target on Ouster to $53 from $40 and reiterated a buy rating, reinforcing the view that the stock’s recent run may have more room to continue. Ouster price target raised to $53 at Rosenblatt
• Positive Sentiment: Recent coverage highlighted Ouster’s growing momentum in defense and autonomous technology markets, including a strategic agreement to strengthen counter-drone systems with its digital lidar products. ARGUS Interception and Ouster Announce Strategic Agreement
• Positive Sentiment: Market commentary also pointed to Ouster’s breakout momentum and new highs, suggesting traders are buying into the company’s defense and robotics growth story. Ouster Shares Rise As Defense Push, Analyst Targets Hike Boost Momentum
• Neutral Sentiment: Multiple insiders, including the COO, CTO, and CRO, sold shares recently. While that can create caution, the sales were disclosed and do not necessarily signal a change in the company’s fundamentals. SEC filing for Mark Frichtl SEC filing for Darien Spencer SEC filing for Cyrille Jacquemet
• Negative Sentiment: The insider selling, especially a large CTO sale, may worry some investors who view it as a sign that management is taking profits after the stock’s sharp run-up.

Hedge Funds Weigh In On Ouster

A number of institutional investors have recently modified their holdings of the company. Bank of America Corp DE grew its holdings in Ouster by 114.6% during the first quarter. Bank of America Corp DE now owns 217,390 shares of the company’s stock worth $3,993,000 after buying an additional 116,096 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Ouster by 706.0% during the first quarter. Janus Henderson Group PLC now owns 177,895 shares of the company’s stock worth $3,268,000 after buying an additional 155,825 shares in the last quarter. Amundi grew its holdings in Ouster by 40.1% during the first quarter. Amundi now owns 21,921 shares of the company’s stock worth $403,000 after buying an additional 6,278 shares in the last quarter. California State Teachers Retirement System grew its holdings in Ouster by 50.3% during the first quarter. California State Teachers Retirement System now owns 79,401 shares of the company’s stock worth $1,459,000 after buying an additional 26,574 shares in the last quarter. Finally, Royal Bank of Canada grew its holdings in Ouster by 34.4% during the first quarter. Royal Bank of Canada now owns 5,888 shares of the company’s stock worth $108,000 after buying an additional 1,507 shares in the last quarter. 31.45% of the stock is owned by institutional investors and hedge funds.

Ouster Price Performance

The company has a fifty day moving average of $26.18 and a 200-day moving average of $23.76. The firm has a market cap of $2.66 billion, a P/E ratio of -43.64 and a beta of 3.06.

About Ouster

Ouster, Inc is a leading provider of high-resolution digital lidar sensors, software and services designed to enable advanced perception capabilities across a range of industries. Headquartered in San Francisco, California, the company develops modular lidar solutions that capture precise three-dimensional data in real time, supporting applications from autonomous vehicles and robotics to mapping, smart infrastructure and industrial automation.

The company’s core product lineup features multi-beam digital lidar units available in various form factors, including compact models for robotics and drones and larger units for automotive and mapping systems.