Ouster (NYSE:OUST) Trading Up 6.4% – Time to Buy?

Ouster, Inc. (NYSE:OUST)’s stock price shot up 6.4% on Friday . The stock traded as high as $13.25 and last traded at $13.14. 407,789 shares traded hands during trading, a decline of 59% from the average session volume of 988,935 shares. The stock had previously closed at $12.35.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on OUST. Northland Capmk raised shares of Ouster to a “strong-buy” rating in a research note on Thursday, December 12th. Cantor Fitzgerald upgraded Ouster from a “neutral” rating to an “overweight” rating and cut their target price for the stock from $12.00 to $10.00 in a research report on Monday, November 11th. Northland Securities started coverage on Ouster in a research note on Thursday, December 12th. They issued an “outperform” rating and a $14.00 price target for the company. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $17.00 target price on shares of Ouster in a report on Friday, November 8th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Ouster presently has an average rating of “Buy” and an average target price of $13.17.

Ouster Stock Up 14.6 %

The stock has a market capitalization of $704.26 million, a PE ratio of -5.51 and a beta of 2.50. The stock’s 50 day moving average price is $9.64 and its 200-day moving average price is $9.28.

Insider Activity

In other news, General Counsel Megan Chung sold 13,671 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $9.69, for a total transaction of $132,471.99. Following the sale, the general counsel now owns 149,647 shares in the company, valued at approximately $1,450,079.43. The trade was a 8.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark Weinswig sold 31,397 shares of Ouster 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 sale, the chief financial officer now owns 198,650 shares of the company’s stock, valued at $1,732,228. This trade represents a 13.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 80,415 shares of company stock worth $748,620. 7.81% of the stock is currently owned by corporate insiders.

Institutional Trading of Ouster

Several hedge funds and other institutional investors have recently bought and sold shares of OUST. GSA Capital Partners LLP purchased a new position in shares of Ouster during the 3rd quarter valued at approximately $706,000. Renaissance Technologies LLC purchased a new stake in Ouster in the 2nd quarter valued at $1,217,000. State Street Corp grew its holdings in shares of Ouster by 2.4% in the third quarter. State Street Corp now owns 1,649,540 shares of the company’s stock valued at $10,392,000 after purchasing an additional 37,926 shares during the period. Stifel Financial Corp lifted its stake in Ouster by 286.7% during the third quarter. Stifel Financial Corp now owns 59,718 shares of the company’s stock worth $376,000 after purchasing an additional 44,275 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Ouster in the second quarter valued at $1,305,000. 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.