Ouster (NASDAQ:OUST) Trading Up 6.7% – Should You Buy?

by · The Cerbat Gem

Ouster, Inc. (NASDAQ:OUSTGet Free Report)’s stock price was up 6.7% during trading on Thursday . The company traded as high as $33.25 and last traded at $32.9350. Approximately 1,442,409 shares changed hands during trading, a decline of 43% from the average daily volume of 2,543,453 shares. The stock had previously closed at $30.87.

Analysts Set New Price Targets

A number of equities analysts have recently commented on OUST shares. Oppenheimer reiterated an “outperform” rating and set a $40.00 price target on shares of Ouster in a report on Tuesday, March 3rd. Rosenblatt Securities reiterated a “buy” rating and set a $40.00 price target on shares of Ouster in a report on Tuesday, March 3rd. Weiss Ratings initiated coverage on shares of Ouster in a report on Friday, May 15th. They issued a “sell (d-)” rating on the stock. Finally, Cantor Fitzgerald lowered shares of Ouster from an “overweight” rating to a “neutral” rating in a report on Thursday, May 7th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Ouster currently has a consensus rating of “Hold” and an average price target of $40.20.

Check Out Our Latest Research Report on Ouster

Ouster Price Performance

The firm has a market cap of $2.18 billion, a price-to-earnings ratio of -35.82 and a beta of 3.06. The firm’s fifty day moving average is $24.09 and its 200-day moving average is $23.26.

Insider Buying and Selling at Ouster

In other news, CTO Mark Frichtl sold 136,434 shares of the stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $32.56, for a total transaction of $4,442,291.04. Following the transaction, the chief technology officer owned 628,638 shares of the company’s stock, valued at $20,468,453.28. This represents a 17.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Charles Angus Pacala sold 24,657 shares of the firm’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $23.43, for a total value of $577,713.51. Following the completion of the sale, the chief executive officer owned 960,660 shares of the company’s stock, valued at approximately $22,508,263.80. This represents a 2.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 484,159 shares of company stock worth $13,522,138. 5.72% of the stock is owned by company insiders.

Institutional Trading of Ouster

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC increased its position in Ouster by 2,532.6% in the 2nd quarter. NewEdge Advisors LLC now owns 1,132 shares of the company’s stock valued at $27,000 after buying an additional 1,089 shares in the last quarter. Larson Financial Group LLC increased its position in Ouster by 118.8% in the 4th quarter. Larson Financial Group LLC now owns 1,965 shares of the company’s stock valued at $43,000 after buying an additional 1,067 shares in the last quarter. Gordian Capital Singapore Pte Ltd increased its position in Ouster by 38.1% in the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 2,900 shares of the company’s stock valued at $78,000 after buying an additional 800 shares in the last quarter. SHP Wealth Management bought a new stake in Ouster in the 4th quarter valued at about $96,000. Finally, Van ECK Associates Corp increased its position in Ouster by 17.1% in the 3rd quarter. Van ECK Associates Corp now owns 3,590 shares of the company’s stock valued at $97,000 after buying an additional 525 shares in the last quarter. 31.45% of the stock is owned by institutional investors.

Ouster Company Profile

(Get Free Report)

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.

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