Ouster (NYSE:OUST) Stock Price Up 7.8% - Should You Buy?

Key Points

• Ouster, Inc. shares surged by 7.8% during trading, with the stock reaching a last price of $32.91, following a previous close of $30.54.
• Wall Street analysts have mixed ratings on Ouster, with a consensus rating of "Moderate Buy" and an average price target of $15.95.
• Institutional investors currently own 31.45% of Ouster's stock, with some large investors significantly increasing their stakes in the company.

Shares of Ouster, Inc. (NYSE:OUST - Get Free Report) were up 7.8% during trading on Tuesday . The stock traded as high as $32.60 and last traded at $32.91. Approximately 1,325,044 shares traded hands during trading, a decline of 42% from the average daily volume of 2,301,716 shares. The stock had previously closed at $30.54.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on OUST. Westpark Capital raised shares of Ouster from a "hold" rating to a "buy" rating in a research report on Wednesday, August 13th. Zacks Research lowered shares of Ouster from a "strong-buy" rating to a "hold" rating in a report on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $15.95.

Ouster Stock Performance

The company has a market cap of $1.81 billion, a price-to-earnings ratio of -12.16 and a beta of 2.72. The firm has a fifty day moving average price of $30.43 and a 200 day moving average price of $21.29.

Insider Transactions at Ouster

In related news, CEO Charles Angus Pacala sold 37,992 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $28.46, for a total value of $1,081,252.32. Following the completion of the sale, the chief executive officer directly owned 1,009,927 shares of the company's stock, valued at approximately $28,742,522.42. This represents a 3.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Darien Spencer sold 18,274 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $28.46, for a total value of $520,078.04. Following the completion of the sale, the chief operating officer directly owned 346,132 shares of the company's stock, valued at $9,850,916.72. The trade was a 5.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 104,615 shares of company stock worth $2,992,286. 6.63% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its holdings in shares of Ouster by 9,703.8% in the 1st quarter. GAMMA Investing LLC now owns 15,392 shares of the company's stock valued at $138,000 after acquiring an additional 15,235 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Ouster during the 1st quarter valued at about $97,000. Bank of New York Mellon Corp raised its holdings in shares of Ouster by 4.9% during the 1st quarter. Bank of New York Mellon Corp now owns 107,005 shares of the company's stock valued at $961,000 after buying an additional 5,046 shares in the last quarter. CWM LLC raised its holdings in shares of Ouster by 1,094.9% during the 1st quarter. CWM LLC now owns 11,591 shares of the company's stock valued at $104,000 after buying an additional 10,621 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. purchased a new position in shares of Ouster during the 1st quarter valued at about $566,000. Institutional investors own 31.45% of the company's stock.

About Ouster

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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