Ouster (NYSE:OUST) Trading 4.6% Higher – Still a Buy?

Ouster, Inc. (NYSE:OUST)’s share price rose 4.6% during trading on Wednesday . The stock traded as high as $11.55 and last traded at $11.51. Approximately 762,299 shares were traded during mid-day trading, a decline of 35% from the average daily volume of 1,171,474 shares. The stock had previously closed at $11.00.

Analyst Ratings Changes

Several equities analysts have recently weighed in on OUST shares. Rosenblatt Securities restated a “buy” rating and set a $17.00 price target on shares of Ouster in a report on Friday, November 8th. Northland Capmk raised shares of Ouster to a “strong-buy” rating in a research report on Thursday, December 12th. Northland Securities assumed coverage on shares of Ouster in a report on Thursday, December 12th. They issued an “outperform” rating and a $14.00 target price for the company. Finally, Cantor Fitzgerald upgraded shares of Ouster from a “neutral” rating to an “overweight” rating and cut their price target for the company from $12.00 to $10.00 in a report on Monday, November 11th. 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $13.17.

Ouster Stock Performance

The firm has a market cap of $518.61 million, a PE ratio of -4.05 and a beta of 2.50. The stock has a 50-day simple moving average of $8.67 and a two-hundred day simple moving average of $9.19.

Insider Activity

In other news, CTO Mark Frichtl bought 5,045 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were acquired at an average cost of $9.78 per share, with a total value of $49,340.10. Following the completion of the transaction, the chief technology officer now owns 513,121 shares of the company’s stock, valued at approximately $5,018,323.38. This trade represents a 0.99 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Megan Chung sold 13,671 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $9.69, for a total value of $132,471.99. Following the sale, the general counsel now owns 149,647 shares of the company’s stock, valued at approximately $1,450,079.43. This represents a 8.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 80,415 shares of company stock valued at $748,620 over the last three months. Insiders own 7.81% of the company’s stock.

Hedge Funds Weigh In On Ouster

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Ouster in the 2nd quarter worth $27,000. Van ECK Associates Corp increased its position in Ouster by 28.4% in the third quarter. Van ECK Associates Corp now owns 7,264 shares of the company’s stock worth $46,000 after buying an additional 1,608 shares in the last quarter. Stoneridge Investment Partners LLC bought a new position in shares of Ouster in the third quarter worth about $67,000. True North Advisors LLC purchased a new position in shares of Ouster during the 3rd quarter valued at about $78,000. Finally, Intech Investment Management LLC bought a new position in shares of Ouster during the 3rd quarter valued at approximately $81,000. Hedge funds and other 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.