Ouster (NYSE:OUST) Shares Up 11.2% - Time to Buy?

Ouster, Inc. (NYSE:OUST - Get Free Report) shares were up 11.2% on Monday . The company traded as high as $23.70 and last traded at $23.95. Approximately 1,211,060 shares were traded during trading, a decline of 21% from the average daily volume of 1,524,086 shares. The stock had previously closed at $21.53.

Wall Street Analyst Weigh In

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

Ouster Stock Performance

The company has a market capitalization of $1.20 billion, a P/E ratio of -8.66 and a beta of 2.48. The firm's fifty day moving average is $11.56 and its 200-day moving average is $10.47.

Insider Transactions at Ouster

In related news, General Counsel Megan Chung sold 5,800 shares of the firm's stock in a transaction on Wednesday, March 26th. The stock was 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 of the company's stock, valued at $2,481,364.88. This trade represents a 2.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 6.63% of the company's stock.

Institutional Investors Weigh In On Ouster

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