Ouster (NYSE:OUST) Trading Up 8.6% - Should You Buy?

Ouster, Inc. (NYSE:OUST - Get Free Report) shares shot up 8.6% during trading on Friday . The company traded as high as $14.71 and last traded at $14.94. 523,375 shares were traded during mid-day trading, a decline of 63% from the average session volume of 1,427,875 shares. The stock had previously closed at $13.76.

Analyst Upgrades and Downgrades

OUST has been the subject of several research reports. Cantor Fitzgerald raised their price objective on shares of Ouster from $10.00 to $11.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. Rosenblatt Securities reissued a "buy" rating and set a $17.00 price target on shares of Ouster in a report on Friday, March 21st. UBS Group set a $16.00 price target on Ouster in a research note on Thursday, March 27th. Westpark Capital upgraded Ouster from a "hold" rating to a "buy" rating and set a $13.68 price objective on the stock in a research report on Friday, May 9th. Finally, Oppenheimer initiated coverage on shares of Ouster in a research report on Thursday, March 27th. They issued an "outperform" rating and a $16.00 target price for the company. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Ouster presently has a consensus rating of "Buy" and an average price target of $14.10.

Ouster Price Performance

The firm has a market cap of $798.59 million, a P/E ratio of -5.80 and a beta of 2.47. The company's 50-day moving average is $9.11 and its two-hundred day moving average is $9.75.

Insider Activity

In other news, General Counsel Megan Chung sold 5,800 shares of Ouster stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $11.24, for a total value 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 9,099 shares of company stock worth $90,460. 7.81% of the stock is currently owned by corporate insiders.

Institutional Trading of Ouster

Institutional investors and hedge funds have recently modified their holdings of the business. 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 Ouster in the 1st quarter valued at approximately $49,000. Daiwa Securities Group Inc. boosted its position in Ouster by 18.0% in the fourth 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 in the last quarter. AlphaQuest LLC grew its stake in shares of Ouster by 27.8% during 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 last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of Ouster during the first quarter worth $97,000. 31.45% of the stock is currently owned by 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.

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