Ouster (NYSE:OUST) Trading 4.4% Higher – Still a Buy?

Ouster, Inc. (NYSE:OUST) rose 4.4% on Thursday . The stock traded as high as $10.19 and last traded at $10.05. Approximately 615,083 shares changed hands during mid-day trading, a decline of 47% from the average daily volume of 1,160,485 shares. The stock had previously closed at $9.63.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Northland Capmk upgraded shares of Ouster to a “strong-buy” rating in a research note on Thursday. Cantor Fitzgerald upgraded Ouster from a “neutral” rating to an “overweight” rating and decreased their price target for the stock from $12.00 to $10.00 in a report on Monday, November 11th. Northland Securities began coverage on shares of Ouster in a research report on Thursday. They issued an “outperform” rating and a $14.00 price objective for the company. Finally, Rosenblatt Securities restated a “buy” rating and issued a $17.00 target price on shares of Ouster in a research note on Friday, November 8th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Ouster presently has a consensus rating of “Buy” and a consensus price target of $13.17.

Ouster Trading Down 0.7 %

The stock’s 50-day moving average price is $8.37 and its 200-day moving average price is $9.23. The company has a market capitalization of $451.92 million, a P/E ratio of -3.53 and a beta of 2.50.

Insider Activity

In other Ouster news, CFO Mark Weinswig sold 31,397 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $8.72, for a total transaction of $273,781.84. Following the transaction, the chief financial officer now owns 198,650 shares of the company’s stock, valued at approximately $1,732,228. This trade represents a 13.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 7.81% of the company’s stock.

Institutional Investors Weigh In On Ouster

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OUST. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Ouster in the 2nd quarter worth approximately $27,000. Van ECK Associates Corp grew its stake in Ouster by 28.4% during the 3rd quarter. Van ECK Associates Corp now owns 7,264 shares of the company’s stock valued at $46,000 after acquiring an additional 1,608 shares in the last quarter. Stoneridge Investment Partners LLC acquired a new stake in shares of Ouster during the third quarter worth approximately $67,000. True North Advisors LLC acquired a new position in Ouster in the 3rd quarter valued at approximately $78,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Ouster during the 3rd quarter valued at $81,000. Institutional investors own 31.45% of the company’s stock.

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.