Stock Traders Buy Large Volume of Ouster Call Options (NASDAQ:OUST)

Ouster, Inc. (NASDAQ:OUST) saw some unusual options trading on Monday. Traders purchased 13,003 call options on the company. This represents an increase of 76% compared to the average volume of 7,374 call options.

Insider Transactions at Ouster

In other Ouster news, CRO Cyrille Jacquemet sold 9,433 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $40.00, for a total transaction of $377,320.00. Following the completion of the transaction, the executive directly owned 123,158 shares of the company’s stock, valued at $4,926,320. The trade was a 7.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kenneth P. Gianella sold 54,337 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $38.82, for a total transaction of $2,109,362.34. Following the completion of the sale, the chief financial officer owned 301,014 shares in the company, valued at $11,685,363.48. The trade was a 15.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 948,896 shares of company stock worth $33,336,715 over the last 90 days. Corporate insiders own 5.72% of the company’s stock.

Institutional Investors Weigh In On Ouster

Several hedge funds have recently modified their holdings of the business. Hillsdale Investment Management Inc. bought a new position in shares of Ouster during the 3rd quarter worth about $3,038,000. Handelsbanken Fonder AB increased its stake in Ouster by 1,419.5% in the third quarter. Handelsbanken Fonder AB now owns 310,205 shares of the company’s stock valued at $8,385,000 after acquiring an additional 289,790 shares during the period. SG Americas Securities LLC increased its stake in Ouster by 43.2% in the fourth quarter. SG Americas Securities LLC now owns 276,578 shares of the company’s stock valued at $5,985,000 after acquiring an additional 83,448 shares during the period. JPMorgan Chase & Co. raised its position in Ouster by 514.6% in the third quarter. JPMorgan Chase & Co. now owns 185,198 shares of the company’s stock worth $5,010,000 after purchasing an additional 155,063 shares in the last quarter. Finally, Algert Global LLC raised its position in Ouster by 192.6% in the third quarter. Algert Global LLC now owns 500,902 shares of the company’s stock worth $13,549,000 after purchasing an additional 329,735 shares in the last quarter. 31.45% of the stock is owned by institutional investors.

Ouster Trading Up 3.5%

OUST traded up $1.63 during trading on Monday, hitting $48.20. The stock had a trading volume of 3,059,675 shares, compared to its average volume of 2,963,458. Ouster has a 12 month low of $16.40 and a 12 month high of $51.50. The firm has a market cap of $3.03 billion, a PE ratio of -49.69 and a beta of 3.24. The company has a 50 day simple moving average of $33.67 and a 200-day simple moving average of $26.09.

Ouster (NASDAQ:OUST) last announced its earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.16). The business had revenue of $48.58 million for the quarter, compared to the consensus estimate of $46.15 million. Ouster had a negative net margin of 30.12% and a negative return on equity of 21.49%. During the same quarter in the previous year, the company earned ($0.42) EPS. As a group, sell-side analysts anticipate that Ouster will post -1.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on OUST. Oppenheimer reiterated an “outperform” rating and set a $40.00 price objective on shares of Ouster in a research note on Tuesday, March 3rd. Weiss Ratings initiated coverage on shares of Ouster in a research note on Friday, May 15th. They set a “sell (d-)” rating for the company. Cantor Fitzgerald cut Ouster from an “overweight” rating to a “neutral” rating in a research report on Thursday, May 7th. Roth Mkm began coverage on shares of Ouster in a report on Friday, May 29th. They set a “buy” rating and a $75.00 price target for the company. Finally, Rosenblatt Securities boosted their target price on Ouster from $40.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $48.17.

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.