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

Ouster, Inc. (NASDAQ:OUST)’s share price shot up 6.7% during trading on Thursday . The company traded as high as $33.25 and last traded at $32.9350. 1,442,409 shares changed hands during mid-day trading, a decline of 43% from the average session volume of 2,543,453 shares. The stock had previously closed at $30.87.

Analyst Upgrades and Downgrades

OUST has been the topic of several recent research reports. Cantor Fitzgerald cut shares of Ouster from an “overweight” rating to a “neutral” rating in a research report on Thursday, May 7th. Oppenheimer restated an “outperform” rating and issued a $40.00 target price 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. Finally, Weiss Ratings began coverage on Ouster in a research report on Friday, May 15th. They issued a “sell (d-)” rating for the company. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $40.20.

Ouster Stock Performance

The stock has a market cap of $2.18 billion, a PE ratio of -35.82 and a beta of 3.06. The company’s 50 day simple moving average is $24.09 and its 200 day simple moving average is $23.26.

Insider Buying and Selling at Ouster

In other Ouster news, Director Stephen A. Skaggs sold 5,000 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $30.00, for a total value of $150,000.00. Following the completion of the sale, the director owned 61,690 shares in the company, valued at approximately $1,850,700. This trade represents a 7.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Mark Frichtl sold 4,316 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $36.00, for a total transaction of $155,376.00. Following the completion of the sale, the chief technology officer owned 628,638 shares of the company’s stock, valued at approximately $22,630,968. This trade represents a 0.68% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 484,159 shares of company stock worth $13,522,138. Insiders own 5.72% of the company’s stock.

Institutional Investors Weigh In On Ouster

Several institutional investors and hedge funds have recently added to or reduced their stakes in OUST. Bank of America Corp DE grew its position in shares of Ouster by 114.6% during the 1st quarter. Bank of America Corp DE now owns 217,390 shares of the company’s stock valued at $3,993,000 after acquiring an additional 116,096 shares during the period. Janus Henderson Group PLC grew its position in shares of Ouster by 706.0% during the 1st quarter. Janus Henderson Group PLC now owns 177,895 shares of the company’s stock valued at $3,268,000 after acquiring an additional 155,825 shares during the period. Amundi grew its position in shares of Ouster by 40.1% during the 1st quarter. Amundi now owns 21,921 shares of the company’s stock valued at $403,000 after acquiring an additional 6,278 shares during the period. California State Teachers Retirement System grew its position in shares of Ouster by 50.3% during the 1st quarter. California State Teachers Retirement System now owns 79,401 shares of the company’s stock valued at $1,459,000 after acquiring an additional 26,574 shares during the period. Finally, Royal Bank of Canada grew its position in shares of Ouster by 34.4% during the 1st quarter. Royal Bank of Canada now owns 5,888 shares of the company’s stock valued at $108,000 after acquiring an additional 1,507 shares during the period. Hedge funds and other institutional investors own 31.45% of the company’s stock.

About Ouster

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.