Ouster (NASDAQ:OUST) Stock Price Up 9.8% – Still a Buy?

Ouster, Inc. (NASDAQ:OUST)’s stock price traded up 9.8% during trading on Friday . The company traded as high as $46.15 and last traded at $46.49. 2,773,701 shares were traded during mid-day trading, an increase of 2% from the average session volume of 2,721,029 shares. The stock had previously closed at $42.33.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $40.00 target price on shares of Ouster in a research report on Tuesday, March 3rd. Weiss Ratings assumed coverage on shares of Ouster in a research report on Friday, May 15th. They issued a “sell (d-)” rating for the company. Roth Mkm assumed coverage on shares of Ouster in a research report on Friday. They issued a “buy” rating and a $75.00 target price for the company. Rosenblatt Securities lifted their target price on shares of Ouster from $40.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Cantor Fitzgerald downgraded shares of Ouster from an “overweight” rating to a “neutral” rating in a research report on Thursday, May 7th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $48.17.

Ouster Trading Up 9.1%

The company’s 50 day moving average price is $26.18 and its two-hundred day moving average price is $23.76. The firm has a market cap of $2.90 billion, a PE ratio of -47.66 and a beta of 3.06.

Insider Transactions at Ouster

In related news, CTO Mark Frichtl sold 308,742 shares of Ouster stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $41.53, for a total transaction of $12,822,055.26. Following the transaction, the chief technology officer owned 294,924 shares in the company, valued at approximately $12,248,193.72. The trade was a 51.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Charles Angus Pacala sold 24,657 shares of Ouster stock in a transaction on 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 owned 960,660 shares in the company, valued at approximately $22,508,263.80. This trade represents a 2.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 927,334 shares of company stock worth $31,530,882 in the last 90 days. 5.72% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. NewEdge Advisors LLC lifted its holdings in Ouster by 2,532.6% in the 2nd quarter. NewEdge Advisors LLC now owns 1,132 shares of the company’s stock worth $27,000 after purchasing an additional 1,089 shares in the last quarter. Larson Financial Group LLC lifted its holdings in Ouster by 118.8% in the 4th quarter. Larson Financial Group LLC now owns 1,965 shares of the company’s stock worth $43,000 after purchasing an additional 1,067 shares in the last quarter. Gordian Capital Singapore Pte Ltd lifted its holdings in Ouster by 38.1% in the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 2,900 shares of the company’s stock worth $78,000 after purchasing an additional 800 shares in the last quarter. SHP Wealth Management purchased a new position in Ouster in the 4th quarter worth approximately $96,000. Finally, Van ECK Associates Corp lifted its holdings in Ouster by 17.1% in the 3rd quarter. Van ECK Associates Corp now owns 3,590 shares of the company’s stock worth $97,000 after purchasing an additional 525 shares in the last quarter. Hedge funds and other institutional investors own 31.45% of the company’s stock.

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.