Ouster (NYSE:OUST) Sets New 1-Year High - What's Next?

Key Points

• Ouster, Inc. shares reached a new 52-week high of $33.49, closing the day at $33.11, which reflects significant investor interest with a trading volume of nearly 4.8 million shares.
• Analysts have varied opinions on Ouster, with Westpark Capital upgrading the stock to a "buy" rating, while Cantor Fitzgerald maintained a "neutral" stance with a target price set at $19.00.
• Institutional investors have significantly increased their stakes in Ouster, with notable boosts from firms like Nisa Investment Advisors and TD Waterhouse Canada, indicating growing confidence in the company's prospects.

Ouster, Inc. (NYSE:OUST - Get Free Report)'s stock price reached a new 52-week high on Thursday . The company traded as high as $33.49 and last traded at $33.11, with a volume of 4798616 shares traded. The stock had previously closed at $28.70.

Analyst Ratings Changes

Several analysts have issued reports on OUST shares. Westpark Capital raised Ouster from a "hold" rating to a "buy" rating in a research note on Wednesday, August 13th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $19.00 price objective on shares of Ouster in a research note on Thursday, June 12th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Ouster currently has a consensus rating of "Buy" and an average price target of $15.95.

Ouster Trading Down 9.1%

The business's fifty day simple moving average is $24.35 and its 200-day simple moving average is $14.50. The firm has a market cap of $1.70 billion, a P/E ratio of -12.24 and a beta of 2.74.

Institutional Trading of Ouster

Several large investors have recently modified their holdings of OUST. JPMorgan Chase & Co. raised its position in Ouster by 548.6% during the 4th quarter. JPMorgan Chase & Co. now owns 121,934 shares of the company's stock valued at $1,490,000 after purchasing an additional 103,135 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Ouster by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 1,022,274 shares of the company's stock valued at $12,495,000 after buying an additional 46,867 shares during the period. Wells Fargo & Company MN increased its stake in shares of Ouster by 20.8% during the fourth quarter. Wells Fargo & Company MN now owns 28,315 shares of the company's stock valued at $346,000 after buying an additional 4,876 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Ouster by 67.3% during the fourth quarter. Russell Investments Group Ltd. now owns 88,318 shares of the company's stock valued at $1,079,000 after acquiring an additional 35,521 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Ouster by 7.3% in the fourth quarter. Invesco Ltd. now owns 20,575 shares of the company's stock worth $251,000 after acquiring an additional 1,391 shares during the period. 31.45% of the stock is owned by institutional investors.

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.