Ouster (NYSE:OUST) Stock Price Up 6.1% – Should You Buy?

Shares of Ouster, Inc. (NYSE:OUST) traded up 6.1% on Friday . The company traded as high as $10.25 and last traded at $10.13. 280,418 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 1,154,313 shares. The stock had previously closed at $9.55.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on OUST shares. Cantor Fitzgerald upgraded shares of Ouster from a “neutral” rating to an “overweight” rating and lowered their price target for the company from $12.00 to $10.00 in a research report on Monday, November 11th. Craig Hallum decreased their target price on shares of Ouster from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, August 14th. Westpark Capital reaffirmed a “buy” rating and set a $17.00 price objective on shares of Ouster in a research note on Monday, August 12th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $17.00 price target on shares of Ouster in a research note on Friday, November 8th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $13.00.

Ouster Price Performance

The firm has a fifty day moving average of $7.57 and a 200-day moving average of $9.43.

Insider Activity

In other news, CFO Mark Weinswig sold 31,397 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $8.72, for a total transaction of $273,781.84. Following the completion of the transaction, the chief financial officer now directly owns 198,650 shares in the company, valued at approximately $1,732,228. This represents a 13.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 40,425 shares of company stock worth $329,394 over the last 90 days. Company insiders own 7.81% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Ouster during the second quarter worth $27,000. Van ECK Associates Corp lifted its position in shares of Ouster by 28.4% in the 3rd 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 during the last quarter. Stoneridge Investment Partners LLC acquired a new position in shares of Ouster in the 3rd quarter valued at about $67,000. True North Advisors LLC bought a new stake in shares of Ouster during the 3rd quarter valued at about $78,000. Finally, Intech Investment Management LLC acquired a new stake in Ouster during the third quarter worth about $81,000. 31.45% of the stock is owned by institutional investors and hedge funds.

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.