Ouster (NASDAQ:OUST) Trading Up 8.9% – Time to Buy?

Shares of Ouster, Inc. (NASDAQ:OUST) traded up 8.9% during trading on Thursday . The stock traded as high as $42.80 and last traded at $44.3550. 1,227,890 shares traded hands during trading, a decline of 58% from the average session volume of 2,898,968 shares. The stock had previously closed at $40.72.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Weiss Ratings assumed coverage on shares of Ouster in a research report on Friday, May 15th. They set a “sell (d-)” rating on the stock. Oppenheimer reissued an “outperform” rating and set a $40.00 price objective on shares of Ouster in a research report on Tuesday, March 3rd. Cantor Fitzgerald downgraded shares of Ouster from an “overweight” rating to a “neutral” rating in a research report on Thursday, May 7th. Rosenblatt Securities increased their price objective on shares of Ouster from $40.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Finally, Roth Mkm assumed coverage on shares of Ouster in a research report on Friday, May 29th. They set a “buy” rating and a $75.00 price objective on the stock. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $48.17.

Ouster Trading Up 11.5%

The firm has a market cap of $2.85 billion, a P/E ratio of -46.69 and a beta of 3.24. The company’s 50 day simple moving average is $32.60 and its 200-day simple moving average is $25.75.

Insider Buying and Selling at Ouster

In other Ouster news, COO Darien Spencer sold 30,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $45.00, for a total transaction of $1,350,000.00. Following the transaction, the chief operating officer owned 342,366 shares in the company, valued at approximately $15,406,470. This represents a 8.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kenneth P. Gianella sold 54,337 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $38.82, for a total transaction of $2,109,362.34. Following the transaction, the chief financial officer owned 301,014 shares in the company, valued at $11,685,363.48. This represents a 15.29% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 948,896 shares of company stock worth $33,336,715. Company insiders own 5.72% of the company’s stock.

Hedge Funds Weigh In On Ouster

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Van ECK Associates Corp lifted its stake in Ouster by 17.1% during the 3rd quarter. Van ECK Associates Corp now owns 3,590 shares of the company’s stock valued at $97,000 after acquiring an additional 525 shares during the period. Main Management ETF Advisors LLC lifted its stake in Ouster by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 54,810 shares of the company’s stock valued at $1,186,000 after acquiring an additional 560 shares during the period. Corient Private Wealth LLC lifted its stake in Ouster by 5.5% during the 2nd quarter. Corient Private Wealth LLC now owns 11,554 shares of the company’s stock valued at $280,000 after acquiring an additional 599 shares during the period. Prosperity Wealth Management Inc. lifted its stake in Ouster by 5.5% during the 3rd quarter. Prosperity Wealth Management Inc. now owns 13,000 shares of the company’s stock valued at $352,000 after acquiring an additional 675 shares during the period. Finally, Creative Planning lifted its stake in Ouster by 1.6% during the 3rd quarter. Creative Planning now owns 43,681 shares of the company’s stock valued at $1,182,000 after acquiring an additional 677 shares during the period. Institutional investors own 31.45% of the company’s stock.

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.