Ouster (NYSE:OUST) Shares Up 6.8% - Should You Buy?

Key Points

• Ouster's stock saw a significant increase of 6.8%, trading at $30.22 after previously closing at $28.29, with a substantial drop in trading volume compared to average levels.
• Analysts have provided mixed ratings, with one analyst giving a Strong Buy rating, four offering Buy ratings, and one maintaining a Hold, alongside an average target price of $15.95.
• Institutional investment has surged, with firms like NewEdge Advisors and TD Waterhouse showing massive percentage increases in their stakes in Ouster, indicating strong interest from institutional investors.

Ouster, Inc. (NYSE:OUST - Get Free Report) shares rose 6.8% during mid-day trading on Thursday . The company traded as high as $29.70 and last traded at $30.22. Approximately 155,265 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 2,165,137 shares. The stock had previously closed at $28.29.

Analysts Set New Price Targets

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

Ouster Trading Up 9.3%

The company has a fifty day simple moving average of $27.32 and a two-hundred day simple moving average of $16.83. The company has a market cap of $1.79 billion, a PE ratio of -11.96 and a beta of 2.75.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its stake in Ouster by 2,532.6% in the second quarter. NewEdge Advisors LLC now owns 1,132 shares of the company's stock worth $27,000 after acquiring an additional 1,089 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Ouster by 153.3% in the second quarter. Nisa Investment Advisors LLC now owns 1,211 shares of the company's stock worth $29,000 after acquiring an additional 733 shares during the last quarter. TD Waterhouse Canada Inc. lifted its stake in Ouster by 8,823.5% in the second quarter. TD Waterhouse Canada Inc. now owns 1,517 shares of the company's stock worth $37,000 after acquiring an additional 1,500 shares during the last quarter. Byrne Asset Management LLC purchased a new position in Ouster in the first quarter worth approximately $39,000. Finally, FNY Investment Advisers LLC purchased a new position in Ouster in the first quarter worth approximately $49,000. Hedge funds and other 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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