Ouster (NYSE:OUST) Reaches New 52-Week High - Still a Buy?

Ouster, Inc. (NYSE:OUST - Get Free Report) shares hit a new 52-week high on Friday . The stock traded as high as $22.40 and last traded at $20.58, with a volume of 1868900 shares trading hands. The stock had previously closed at $20.34.

Analyst Ratings Changes

Several research firms have commented on OUST. UBS Group set a $16.00 target price on shares of Ouster in a research report on Thursday, March 27th. Westpark Capital cut shares of Ouster from a "buy" rating to a "hold" rating in a report on Thursday, June 12th. Oppenheimer initiated coverage on shares of Ouster in a research report on Thursday, March 27th. They set an "outperform" rating and a $16.00 target price on the stock. Rosenblatt Securities reaffirmed a "buy" rating and issued a $17.00 price target on shares of Ouster in a research report on Friday, March 21st. Finally, Cantor Fitzgerald reiterated a "neutral" rating and set a $19.00 price target on shares of Ouster in a research note on Thursday, June 12th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $15.24.

Ouster Trading Up 1.2%

The firm has a 50-day moving average of $11.27 and a two-hundred day moving average of $10.37. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of -8.01 and a beta of 2.48.

Insiders Place Their Bets

In related news, General Counsel Megan Chung sold 5,800 shares of the company's stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $11.24, for a total transaction of $65,192.00. Following the completion of the transaction, the general counsel now directly owns 220,762 shares in the company, valued at $2,481,364.88. This represents a 2.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 6.63% of the company's stock.

Institutional Investors Weigh In On Ouster

Hedge funds have recently made changes to their positions in the stock. Byrne Asset Management LLC acquired a new stake in shares of Ouster during the 1st quarter worth approximately $39,000. FNY Investment Advisers LLC bought a new position in Ouster during the first quarter worth about $49,000. Daiwa Securities Group Inc. raised its holdings in shares of Ouster by 18.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 6,977 shares of the company's stock worth $85,000 after buying an additional 1,063 shares in the last quarter. AlphaQuest LLC boosted its stake in Ouster by 916.0% in the 4th quarter. AlphaQuest LLC now owns 8,270 shares of the company's stock valued at $101,000 after buying an additional 7,456 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Ouster during the first quarter valued at $97,000. 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.

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