Chen Geng Sells 3,050 Shares of Ouster, Inc. (NYSE:OUST) Stock

On March 12th, 2023, Chen Geng, the Chief Financial Officer of Ouster, Inc. (NYSE:OUST), executed a sale of 3,050 shares of the company's stock. The shares were sold at an average price of $7.63 each, leading to a total transaction value of $23,271.50. After this transaction, Geng now holds 38,090 shares of Ouster, which are currently valued at approximately $290,626.70. This sale indicates a 7.41% reduction in Geng's ownership position in the company. The details of this transaction were disclosed in a filing with the Securities and Exchange Commission (SEC), which is publicly accessible.

Ouster Stock Performance

On the trading day following the sale, Ouster's shares increased by $0.41, reaching a price of $7.97. The trading volume for the day was 886,903 shares, which is lower than the average volume of 1,316,082 shares. Ouster's stock has a 50-day moving average of $9.98 and a 200-day moving average of $8.86. The current market capitalization of Ouster, Inc. stands at $396.67 million. Additionally, the company has a price-to-earnings ratio of -3.10 and a beta value of 2.38. Over the past year, Ouster's stock has seen a low of $4.65 and a high of $16.88.

Analyst Ratings Updates

Recently, several brokerage firms have revised their recommendations regarding Ouster. On December 12th, Northland Capital Markets upgraded Ouster shares to a "strong buy" rating. Furthermore, they initiated coverage on the company with an "outperform" rating and set a target price of $14.00 for the stock. Currently, one analyst has rated the stock as a hold, while five analysts have assigned it a buy rating. Additionally, one analyst has given it a strong buy rating. According to MarketBeat.com, the general consensus rating for Ouster is "Buy," with an average target price of $13.17.

Institutional Investors Approach Ouster

In recent months, institutional investors and hedge funds have shown interest in Ouster by buying and selling shares of the company. For example, during the fourth quarter, Daiwa Securities Group Inc. increased its stake in Ouster by 18%, acquiring 6,977 shares valued at $85,000. Additionally, Van ECK Associates Corp boosted its holdings by 28.4% in the third quarter, accumulating 7,264 shares worth $46,000. Other firms, such as AlphaQuest LLC and ExodusPoint Capital Management LP, have also made significant investments in Ouster. As of now, institutional and hedge fund investors own about 31.45% of the company's shares.

About Ouster, Inc.

Ouster, Inc. specializes in providing lidar sensors that cater to various industries, including automotive, industrial, robotics, and smart infrastructure. The company serves customers across the Americas, Asia-Pacific, Europe, the Middle East, and Africa. Ouster's product range includes high-resolution scanning sensors, solid-state digital lidar sensors, analog lidar sensors, and various software solutions.

Ouster, CFO, Stock