Ouster (NYSE:OUST) Trading Up 6.4% – Still a Buy?

Ouster, Inc. (NYSE:OUST) shares traded up 6.4% on Friday . The stock traded as high as $13.25 and last traded at $13.14. 407,789 shares were traded during trading, a decline of 59% from the average session volume of 988,935 shares. The stock had previously closed at $12.35.

Analyst Upgrades and Downgrades

Several research firms have recently commented on OUST. Northland Capmk raised Ouster to a “strong-buy” rating in a report on Thursday, December 12th. Cantor Fitzgerald upgraded Ouster from a “neutral” rating to an “overweight” rating and lowered their price objective for the stock from $12.00 to $10.00 in a research note on Monday, November 11th. Northland Securities began coverage on Ouster in a research note on Thursday, December 12th. They issued an “outperform” rating and a $14.00 target price on the stock. Finally, Rosenblatt Securities reissued a “buy” rating and set a $17.00 price target on shares of Ouster in a report on Friday, November 8th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $13.17.

Ouster Stock Performance

The firm has a 50 day simple moving average of $9.78 and a two-hundred day simple moving average of $9.29. The stock has a market cap of $728.65 million, a P/E ratio of -5.70 and a beta of 2.50.

Insider Activity

In other news, COO Darien Spencer sold 14,869 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $9.69, for a total value of $144,080.61. Following the sale, the chief operating officer now owns 291,718 shares of the company’s stock, valued at approximately $2,826,747.42. The trade was a 4.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark Weinswig sold 31,397 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $8.72, for a total value of $273,781.84. Following the completion of the sale, the chief financial officer now owns 198,650 shares of the company’s stock, valued at approximately $1,732,228. This trade represents a 13.65 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 80,415 shares of company stock valued at $748,620. Company insiders own 7.81% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of OUST. Bank of New York Mellon Corp bought a new stake in Ouster during the second quarter worth approximately $1,305,000. Van ECK Associates Corp acquired a new position in shares of Ouster in the 2nd quarter worth $56,000. Rhumbline Advisers acquired a new stake in shares of Ouster during the second quarter worth $598,000. Ballentine Partners LLC purchased a new stake in shares of Ouster during the second quarter valued at $101,000. Finally, American Century Companies Inc. boosted its position in shares of Ouster by 38.5% in the 2nd quarter. American Century Companies Inc. now owns 45,615 shares of the company’s stock valued at $448,000 after purchasing an additional 12,691 shares during the period. 31.45% of the stock is owned by institutional investors and hedge funds.

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.