Chen Geng Offloads Shares of Ouster, Inc. (NYSE:OUST)

On March 12th, Chen Geng, the Chief Financial Officer of Ouster, Inc. (NYSE: OUST - Get Free Report), sold 3,050 shares of the company's stock. The shares were sold at an average price of $7.63, resulting in a total transaction value of $23,271.50. After this transaction, Geng holds 38,090 shares of Ouster, which are valued at approximately $290,626.70. This sale reflects a 7.41% reduction in his ownership stake in the company. Details of the transaction have been filed with the SEC and can be reviewed in their database.

Performance of Ouster Stock

On Friday, shares of NYSE OUST increased by $0.41 to reach $7.97 during trading. The trading volume of the stock was 886,903 shares, compared to its average volume of 1,316,082 shares. The stock has a 50-day moving average of $9.98 and a 200-day moving average of $8.86. Currently, Ouster has a market capitalization of $396.67 million. Its price-to-earnings ratio stands at -3.10, and the stock has a beta of 2.38. Over the past year, it has recorded a low of $4.65 and a high of $16.88.

Changes in Analyst Ratings

Several brokerages have recently updated their ratings on Ouster's stock. Northland Capital Markets upgraded Ouster shares to a "strong-buy" rating in a note on December 12th. They also initiated coverage with an "outperform" rating and set a target price of $14.00. At present, one analyst has rated the stock with a hold, five have provided a buy rating, and one has issued a strong buy rating. According to MarketBeat, the consensus rating stands at "Buy" with an average target price of $13.17.

Institutional Investor Activity

Various institutional investors and hedge funds have been active in buying and selling Ouster shares. For instance, Daiwa Securities Group Inc. increased its holdings in Ouster by 18.0% in the fourth quarter, owning 6,977 shares valued at $85,000 after adding 1,063 shares. Similarly, Van ECK Associates Corp raised their stake by 28.4% during the third quarter, now holding 7,264 shares worth $46,000. Additionally, AlphaQuest LLC boosted its ownership by 916.0% in the same period, acquiring 8,270 shares valued at $101,000. Other firms, including ExodusPoint Capital Management LP and Intech Investment Management LLC, have also made significant investments, revealing a 31.45% ownership of Ouster by institutional investors.

About Ouster, Inc.

Ouster, Inc. provides advanced lidar sensors suited for a range of sectors, including automotive, industrial, robotics, and smart infrastructure, across different regions such as the Americas, Asia-Pacific, Europe, Middle East, and Africa. Their product line includes high-resolution scanning and solid-state digital lidar sensors, analog lidar sensors, along with associated software solutions.

Ouster, Shares, Transaction