Ouster (NYSE:OUST) Shares Up 9% - Time to Buy?

Ouster, Inc. (NYSE:OUST - Get Free Report)'s share price traded up 9% during trading on Monday . The company traded as high as $19.87 and last traded at $19.70. 2,054,602 shares were traded during mid-day trading, an increase of 39% from the average session volume of 1,472,840 shares. The stock had previously closed at $18.07.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on OUST. Oppenheimer started coverage on Ouster in a research report on Thursday, March 27th. They set an "outperform" rating and a $16.00 target price on the stock. Westpark Capital cut shares of Ouster from a "buy" rating to a "hold" rating in a research report on Thursday, June 12th. UBS Group set a $16.00 price objective on shares of 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 research note on Thursday, June 12th. Finally, Rosenblatt Securities restated a "buy" rating and set a $17.00 price target on shares of Ouster in a research report on Friday, March 21st. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $15.24.

Ouster Price Performance

The stock's fifty day moving average price is $11.27 and its 200-day moving average price is $10.37. The firm has a market cap of $1.09 billion, a PE ratio of -7.91 and a beta of 2.48.

Insiders Place Their Bets

In related news, General Counsel Megan Chung sold 5,800 shares of Ouster stock in a transaction that occurred 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 transaction, the general counsel now owns 220,762 shares in the company, valued at approximately $2,481,364.88. This trade represents a 2.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 6.63% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of OUST. Byrne Asset Management LLC acquired a new stake in Ouster during the first quarter worth about $39,000. FNY Investment Advisers LLC purchased a new stake in shares of Ouster in the 1st quarter valued at approximately $49,000. Daiwa Securities Group Inc. grew 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 buying an additional 1,063 shares during the period. AlphaQuest LLC increased its holdings in shares of Ouster by 27.8% during the 1st quarter. AlphaQuest LLC now owns 10,566 shares of the company's stock worth $95,000 after buying an additional 2,296 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Ouster during the 1st quarter valued at approximately $97,000. Hedge funds and other 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.