Ouster (NYSE:OUST) Stock Price Up 4.6% – Should You Buy?

Ouster, Inc. (NYSE:OUST)’s stock price rose 4.6% on Wednesday . The company traded as high as $11.55 and last traded at $11.51. Approximately 762,299 shares were traded during trading, a decline of 35% from the average daily volume of 1,171,474 shares. The stock had previously closed at $11.00.

Wall Street Analysts Forecast Growth

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

Ouster Stock Up 6.9 %

The business has a 50 day simple moving average of $8.52 and a two-hundred day simple moving average of $9.17. The firm has a market cap of $585.31 million, a PE ratio of -4.58 and a beta of 2.50.

Insider Activity at Ouster

In other news, General Counsel Megan Chung sold 13,671 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $9.69, for a total value of $132,471.99. Following the completion of the transaction, the general counsel now directly owns 149,647 shares in the company, valued at $1,450,079.43. This trade represents a 8.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Mark Frichtl acquired 5,045 shares of Ouster stock in a transaction dated Thursday, December 12th. The stock was purchased at an average price of $9.78 per share, with a total value of $49,340.10. Following the completion of the purchase, the chief technology officer now owns 513,121 shares of the company’s stock, valued at approximately $5,018,323.38. The trade was a 0.99 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 80,167 shares of company stock valued at $746,368 over the last quarter. 7.81% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Van ECK Associates Corp raised its position in Ouster by 28.4% during the third quarter. Van ECK Associates Corp now owns 7,264 shares of the company’s stock valued at $46,000 after acquiring an additional 1,608 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Ouster in the second quarter valued at approximately $27,000. Ballentine Partners LLC purchased a new stake in shares of Ouster in the second quarter valued at approximately $101,000. Stoneridge Investment Partners LLC purchased a new stake in shares of Ouster in the third quarter valued at approximately $67,000. Finally, True North Advisors LLC purchased a new stake in shares of Ouster in the third quarter valued at approximately $78,000. 31.45% of the stock is currently 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.