Ouster (NYSE:OUST) Sees Strong Trading Volume – Should You Buy?

Ouster, Inc. (NYSE:OUST) shares saw unusually-high trading volume on Wednesday . Approximately 2,457,656 shares were traded during mid-day trading, an increase of 12% from the previous session’s volume of 2,201,235 shares.The stock last traded at $28.2610 and had previously closed at $27.10.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on OUST shares. Rosenblatt Securities reiterated a “buy” rating and issued a $40.00 price target on shares of Ouster in a report on Tuesday, March 3rd. Cantor Fitzgerald downgraded shares of Ouster from an “overweight” rating to a “neutral” rating in a report on Thursday, May 7th. Finally, Oppenheimer restated an “outperform” rating and set a $40.00 target price on shares of Ouster in a report on Tuesday, March 3rd. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Ouster presently has a consensus rating of “Moderate Buy” and an average target price of $40.20.

Ouster Stock Up 2.0%

The firm has a market capitalization of $2.19 billion, a PE ratio of -13.56 and a beta of 3.06. The business’s fifty day moving average price is $23.25 and its 200 day moving average price is $23.34.

Insider Transactions at Ouster

In related news, Director Stephen A. Skaggs sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $30.00, for a total value of $150,000.00. Following the sale, the director directly owned 61,690 shares of the company’s stock, valued at approximately $1,850,700. This trade represents a 7.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Mark Frichtl sold 13,451 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $30.00, for a total transaction of $403,530.00. Following the completion of the sale, the chief technology officer directly owned 712,297 shares in the company, valued at $21,368,910. This represents a 1.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 303,409 shares of company stock worth $7,524,471 over the last ninety days. 5.72% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ouster

Several hedge funds have recently modified their holdings of OUST. AQR Capital Management LLC boosted its position in shares of 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Ouster by 7.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,344 shares of the company’s stock worth $255,000 after acquiring an additional 2,037 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Ouster by 138.2% in the second quarter. Legal & General Group Plc now owns 9,990 shares of the company’s stock worth $242,000 after acquiring an additional 5,796 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Ouster by 22.0% in the second quarter. American Century Companies Inc. now owns 63,298 shares of the company’s stock worth $1,535,000 after acquiring an additional 11,416 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of Ouster by 1,521.8% in the second quarter. Invesco Ltd. now owns 571,662 shares of the company’s stock worth $13,863,000 after acquiring an additional 536,413 shares during the last quarter. 31.45% of the stock is owned by institutional investors and hedge funds.

Ouster Company Profile

Ouster, Inc is a leading provider of high-resolution digital lidar sensors, software and services designed to enable advanced perception capabilities across a range of industries. Headquartered in San Francisco, California, the company develops modular lidar solutions that capture precise three-dimensional data in real time, supporting applications from autonomous vehicles and robotics to mapping, smart infrastructure and industrial automation.

The company’s core product lineup features multi-beam digital lidar units available in various form factors, including compact models for robotics and drones and larger units for automotive and mapping systems.