Ouster, Inc. (NYSE:OUST) Short Interest Down 15.1% in March

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

Wall Street Analysts Forecast Growth

OUST has been the subject of several research analyst reports. Westpark Capital began coverage on Ouster in a research report on Monday, March 17th. They set a "hold" rating for the company. UBS Group set a $16.00 price target on shares of Ouster in a research note on Thursday, March 27th. Rosenblatt Securities restated a "buy" rating and issued a $17.00 price objective on shares of Ouster in a report on Friday, March 21st. Northland Securities started coverage on shares of Ouster in a research report on Thursday, December 12th. They issued an "outperform" rating and a $14.00 price target for the company. Finally, Northland Capmk upgraded Ouster to a "strong-buy" rating in a research note on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Ouster has a consensus rating of "Moderate Buy" and an average price target of $14.00.

Insider Buying and Selling

In other news, General Counsel Megan Chung sold 5,800 shares of the company's stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $11.24, for a total value of $65,192.00. Following the transaction, the general counsel now owns 220,762 shares of the company's stock, valued at $2,481,364.88. This represents a 2.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders sold 9,099 shares of company stock worth $90,460. 7.81% of the stock is owned by corporate insiders.

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Hedge Funds Weigh In On Ouster

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. EVR Research LP acquired a new stake in Ouster during the 4th quarter worth approximately $5,343,000. Trexquant Investment LP lifted its holdings in shares of Ouster by 113.9% during the fourth quarter. Trexquant Investment LP now owns 602,448 shares of the company's stock worth $7,362,000 after purchasing an additional 320,742 shares during the period. Penn Capital Management Company LLC lifted its holdings in shares of Ouster by 27.4% during the fourth quarter. Penn Capital Management Company LLC now owns 1,094,528 shares of the company's stock worth $13,375,000 after purchasing an additional 235,563 shares during the period. Manatuck Hill Partners LLC acquired a new position in Ouster in the 4th quarter valued at $2,566,000. Finally, Vanguard Group Inc. raised its position in Ouster by 4.5% during the 4th quarter. Vanguard Group Inc. now owns 3,634,680 shares of the company's stock worth $44,416,000 after buying an additional 155,736 shares during the last quarter. Hedge funds and other institutional investors own 31.45% of the company's stock.

Ouster Stock Performance

Ouster stock traded down $0.83 during midday trading on Thursday, hitting $8.09. 1,143,138 shares of the company's stock were exchanged, compared to its average volume of 1,290,539. The stock has a market cap of $402.65 million, a price-to-earnings ratio of -3.15 and a beta of 2.38. Ouster has a 12-month low of $5.84 and a 12-month high of $16.88. The firm's 50 day simple moving average is $9.25 and its 200 day simple moving average is $9.15.

Ouster Company Profile

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.