Short Interest in Ouster, Inc. (NYSE:OUST) Drops By 15.1%

Ouster, Inc. (NYSE:OUST - Get Free Report) was the recipient of a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 4,210,000 shares, a drop of 15.1% from the February 28th total of 4,960,000 shares. Based on an average daily volume of 1,540,000 shares, the short-interest ratio is presently 2.7 days. Approximately 8.6% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. UBS Group set a $16.00 price objective on shares of Ouster in a report on Thursday, March 27th. Cantor Fitzgerald boosted their price target on shares of Ouster from $10.00 to $11.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st. Westpark Capital started coverage on Ouster in a research note on Monday, March 17th. They set a "hold" rating on the stock. Northland Securities assumed coverage on Ouster in a research note on Thursday, December 12th. They issued an "outperform" rating and a $14.00 target price for the company. Finally, Oppenheimer assumed coverage on Ouster in a research report on Thursday, March 27th. They set an "outperform" rating and a $16.00 price target on the stock. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $14.57.

Insider Buying and Selling at Ouster

In other Ouster news, General Counsel Megan Chung sold 5,800 shares of the firm's stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $11.24, for a total value of $65,192.00. Following the sale, the general counsel now owns 220,762 shares of the company's stock, valued at $2,481,364.88. This trade represents a 2.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 9,099 shares of company stock valued at $90,460 in the last three months. Company insiders own 7.81% of the company's stock.

Hedge Funds Weigh In On Ouster

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Squarepoint Ops LLC increased its stake in shares of Ouster by 146.2% in the 4th quarter. Squarepoint Ops LLC now owns 127,082 shares of the company's stock worth $1,553,000 after acquiring an additional 75,470 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of Ouster by 52.4% during the fourth quarter. ProShare Advisors LLC now owns 21,136 shares of the company's stock valued at $258,000 after purchasing an additional 7,267 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Ouster by 10.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,307 shares of the company's stock valued at $321,000 after buying an additional 2,542 shares in the last quarter. Graham Capital Management L.P. raised its stake in Ouster by 10.1% during the fourth quarter. Graham Capital Management L.P. now owns 63,228 shares of the company's stock valued at $773,000 after buying an additional 5,787 shares during the last quarter. Finally, Deutsche Bank AG boosted its holdings in Ouster by 30.8% in the fourth quarter. Deutsche Bank AG now owns 31,137 shares of the company's stock worth $380,000 after acquiring an additional 7,329 shares in the last quarter. Hedge funds and other institutional investors own 31.45% of the company's stock.

Ouster Price Performance

Ouster stock traded down $0.89 during mid-day trading on Friday, reaching $7.20. 1,883,204 shares of the company traded hands, compared to its average volume of 1,274,051. The firm's 50 day moving average price is $9.13 and its 200 day moving average price is $9.16. Ouster has a 52-week low of $5.84 and a 52-week high of $16.88. The firm has a market capitalization of $358.35 million, a price-to-earnings ratio of -2.80 and a beta of 2.23.

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.