Ouster (NASDAQ:OUST) Trading Up 8.9% – Time to Buy?

Ouster, Inc. (NASDAQ:OUST)’s share price was up 8.9% during mid-day trading on Thursday . The company traded as high as $42.80 and last traded at $44.3550. Approximately 1,227,890 shares changed hands during trading, a decline of 58% from the average daily volume of 2,898,968 shares. The stock had previously closed at $40.72.

Analysts Set New Price Targets

A number of research analysts have issued reports on OUST shares. Oppenheimer reissued an “outperform” rating and set a $40.00 price objective on shares of Ouster in a research report on Tuesday, March 3rd. Rosenblatt Securities boosted their price objective on shares of Ouster from $40.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Weiss Ratings started coverage on shares of Ouster in a research report on Friday, May 15th. They set a “sell (d-)” rating on the stock. Roth Mkm started coverage on shares of Ouster in a research report on Friday, May 29th. They set a “buy” rating and a $75.00 price objective on the stock. Finally, Cantor Fitzgerald downgraded shares of Ouster from an “overweight” rating to a “neutral” rating in a research report on Thursday, May 7th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $48.17.

Ouster Stock Performance

The stock’s 50-day moving average price is $32.60 and its two-hundred day moving average price is $25.75. The stock has a market capitalization of $2.85 billion, a PE ratio of -46.69 and a beta of 3.24.

Insider Transactions at Ouster

In other news, CRO Cyrille Jacquemet sold 9,433 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $40.00, for a total value of $377,320.00. Following the sale, the executive directly owned 123,158 shares of the company’s stock, valued at $4,926,320. This represents a 7.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Charles Angus Pacala sold 29,797 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $38.82, for a total transaction of $1,156,719.54. Following the completion of the sale, the chief executive officer directly owned 1,072,201 shares in the company, valued at $41,622,842.82. This represents a 2.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 948,896 shares of company stock worth $33,336,715. 5.72% of the stock is owned by insiders.

Institutional Trading of Ouster

A number of hedge funds and other institutional investors have recently modified their holdings of the business. NewEdge Advisors LLC grew its position in Ouster by 2,532.6% during the 2nd quarter. NewEdge Advisors LLC now owns 1,132 shares of the company’s stock valued at $27,000 after purchasing an additional 1,089 shares during the last quarter. Larson Financial Group LLC grew its position in Ouster by 118.8% during the 4th quarter. Larson Financial Group LLC now owns 1,965 shares of the company’s stock valued at $43,000 after purchasing an additional 1,067 shares during the last quarter. Gordian Capital Singapore Pte Ltd grew its position in Ouster by 38.1% during the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 2,900 shares of the company’s stock valued at $78,000 after purchasing an additional 800 shares during the last quarter. Van ECK Associates Corp grew its position in Ouster by 17.1% during the 3rd quarter. Van ECK Associates Corp now owns 3,590 shares of the company’s stock valued at $97,000 after purchasing an additional 525 shares during the last quarter. Finally, Banque Cantonale Vaudoise purchased a new stake in Ouster during the 3rd quarter valued at about $120,000. 31.45% of the stock is owned by hedge funds and other institutional investors.

Ouster Company Profile

Ouster, Inc is a leading provider of high-resolution digital lidar sensors, software and services designed to enable advanced perception capabilities across a range of industries. Headquartered in San Francisco, California, the company develops modular lidar solutions that capture precise three-dimensional data in real time, supporting applications from autonomous vehicles and robotics to mapping, smart infrastructure and industrial automation.

The company’s core product lineup features multi-beam digital lidar units available in various form factors, including compact models for robotics and drones and larger units for automotive and mapping systems.