Ouster (NASDAQ:OUST) Reaches New 12-Month High – Should You Buy?

Ouster, Inc. (NASDAQ:OUST) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $45.42 and last traded at $42.70, with a volume of 8578035 shares trading hands. The stock had previously closed at $37.03.

Wall Street Analyst Weigh In

Several analysts recently issued reports on OUST shares. Oppenheimer reaffirmed an “outperform” rating and set a $40.00 price objective on shares of Ouster in a research note on Tuesday, March 3rd. Cantor Fitzgerald cut shares of Ouster from an “overweight” rating to a “neutral” rating in a research note on Thursday, May 7th. Rosenblatt Securities reaffirmed a “buy” rating and set a $40.00 price objective on shares of Ouster in a research note on Tuesday, March 3rd. Finally, Weiss Ratings started coverage on shares of Ouster in a research note on Friday, May 15th. They set a “sell (d-)” rating for the company. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $40.20.

Ouster Price Performance

The business’s 50 day simple moving average is $25.30 and its 200 day simple moving average is $23.50. The company has a market capitalization of $2.68 billion, a PE ratio of -44.02 and a beta of 3.06.

Insider Transactions at Ouster

In other Ouster news, CEO Charles Angus Pacala sold 24,657 shares of Ouster stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $23.43, for a total transaction of $577,713.51. Following the transaction, the chief executive officer directly owned 960,660 shares of the company’s stock, valued at $22,508,263.80. The trade was a 2.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Mark Frichtl sold 136,434 shares of Ouster stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $32.56, for a total transaction of $4,442,291.04. Following the transaction, the chief technology officer directly owned 628,638 shares in the company, valued at $20,468,453.28. This trade represents a 17.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 503,475 shares of company stock worth $14,196,335 over the last ninety days. 5.72% of the stock is owned by insiders.

Hedge Funds Weigh In On Ouster

Institutional investors have recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Ouster during the third quarter worth about $1,677,000. Hillsdale Investment Management Inc. purchased a new position in Ouster during the third quarter worth about $3,038,000. Handelsbanken Fonder AB increased its position in shares of Ouster by 1,419.5% during the third quarter. Handelsbanken Fonder AB now owns 310,205 shares of the company’s stock valued at $8,385,000 after acquiring an additional 289,790 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Ouster by 43.2% in the 4th quarter. SG Americas Securities LLC now owns 276,578 shares of the company’s stock valued at $5,985,000 after acquiring an additional 83,448 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of Ouster by 514.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 185,198 shares of the company’s stock valued at $5,010,000 after acquiring an additional 155,063 shares during the period. 31.45% of the stock is owned by hedge funds and other institutional investors.

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.