Ouster (NYSE:OUST) Trading Up 6.9% - Should You Buy?

Ouster, Inc. (NYSE:OUST - Get Free Report) shot up 6.9% on Friday . The stock traded as high as $30.98 and last traded at $30.62. 1,651,357 shares were traded during trading, a decline of 19% from the average session volume of 2,049,815 shares. The stock had previously closed at $28.64.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Westpark Capital downgraded Ouster from a "buy" rating to a "hold" rating in a report on Thursday, June 12th. UBS Group set a $16.00 price target on Ouster in a research report on Thursday, March 27th. Oppenheimer assumed coverage on Ouster in a research note on Thursday, March 27th. They set an "outperform" rating and a $16.00 target price on the stock. Finally, 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. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $15.24.

Ouster Trading Up 7.0%

The company has a 50-day moving average price of $18.35 and a 200 day moving average price of $12.35. The stock has a market capitalization of $1.65 billion, a P/E ratio of -11.93 and a beta of 2.75.

Hedge Funds Weigh In On Ouster

Institutional investors and hedge funds have recently modified their holdings of the stock. EVR Research LP acquired a new position in shares of Ouster during the fourth quarter valued at approximately $5,343,000. Trexquant Investment LP grew its position in Ouster by 113.9% in the fourth quarter. Trexquant Investment LP now owns 602,448 shares of the company's stock worth $7,362,000 after acquiring an additional 320,742 shares during the period. AQR Capital Management LLC grew its position in Ouster by 610.1% in the first quarter. AQR Capital Management LLC now owns 296,311 shares of the company's stock worth $2,661,000 after acquiring an additional 254,580 shares during the period. Penn Capital Management Company LLC grew its position in Ouster by 27.4% in the fourth quarter. Penn Capital Management Company LLC now owns 1,094,528 shares of the company's stock worth $13,375,000 after acquiring an additional 235,563 shares during the period. Finally, Manatuck Hill Partners LLC purchased a new position in Ouster in the fourth quarter worth approximately $2,566,000. 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.