Ouster (NYSE:OUST) Trading 7.1% Higher - Still a Buy?

Ouster, Inc. (NYSE:OUST - Get Free Report) was up 7.1% during trading on Thursday . The company traded as high as $28.50 and last traded at $28.53. Approximately 1,352,480 shares were traded during mid-day trading, a decline of 35% from the average daily volume of 2,080,487 shares. The stock had previously closed at $26.65.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on OUST shares. Westpark Capital cut Ouster from a "buy" rating to a "hold" rating in a research note on Thursday, June 12th. Cantor Fitzgerald reissued a "neutral" rating and issued a $19.00 target price on shares of Ouster in a research note on Thursday, June 12th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $15.24.

Ouster Price Performance

The company has a market capitalization of $1.39 billion, a PE ratio of -10.09 and a beta of 2.75. The firm has a 50-day moving average of $20.28 and a 200 day moving average of $12.93.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Game Plan Financial Advisors LLC boosted its position in Ouster by 400.0% in the second quarter. Game Plan Financial Advisors LLC now owns 3,000 shares of the company's stock worth $73,000 after purchasing an additional 2,400 shares during the last quarter. Byrne Asset Management LLC bought a new position in shares of Ouster in the first quarter worth about $39,000. FNY Investment Advisers LLC bought a new position in shares of Ouster in the first quarter worth about $49,000. AlphaQuest LLC raised its stake in shares of Ouster by 27.8% in the first 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 period. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Ouster in the first quarter worth about $97,000. 31.45% of the stock is owned by hedge funds and other institutional investors.

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.