Ouster (NASDAQ:OUST) Trading Up 10.9% – Still a Buy?

Ouster, Inc. (NASDAQ:OUST) shares shot up 10.9% during mid-day trading on Thursday . The company traded as high as $48.56 and last traded at $48.7670. 2,909,355 shares changed hands during trading, an increase of 5% from the average session volume of 2,782,520 shares. The stock had previously closed at $43.96.

Analysts Set New Price Targets

OUST has been the topic of several analyst reports. Roth Mkm initiated coverage on shares of Ouster in a report on Friday, May 29th. They issued a “buy” rating and a $75.00 target price on the stock. Oppenheimer reiterated an “outperform” rating and issued a $40.00 target price on shares of Ouster in a report on Tuesday, March 3rd. Cantor Fitzgerald downgraded Ouster from an “overweight” rating to a “neutral” rating in a research note on Thursday, May 7th. Rosenblatt Securities raised their price objective on Ouster from $40.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Finally, Weiss Ratings assumed coverage on Ouster in a research note on Friday, May 15th. They set a “sell (d-)” rating on the stock. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Ouster presently has an average rating of “Hold” and a consensus target price of $48.17.

Ouster Price Performance

The company’s 50-day moving average price is $28.14 and its 200-day moving average price is $24.35. The company has a market cap of $3.00 billion, a P/E ratio of -49.27 and a beta of 3.24.

Insiders Place Their Bets

In related news, COO Darien Spencer sold 30,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $45.00, for a total transaction of $1,350,000.00. Following the sale, the chief operating officer owned 342,366 shares in the company, valued at approximately $15,406,470. This represents a 8.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Mark Frichtl sold 308,742 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $41.53, for a total value of $12,822,055.26. Following the sale, the chief technology officer owned 294,924 shares in the company, valued at $12,248,193.72. The trade was a 51.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 927,334 shares of company stock valued at $31,530,882 in the last quarter. 5.72% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of OUST. NewEdge Advisors LLC boosted its position in Ouster by 2,532.6% during the second quarter. NewEdge Advisors LLC now owns 1,132 shares of the company’s stock worth $27,000 after purchasing an additional 1,089 shares during the period. Larson Financial Group LLC lifted its holdings in Ouster by 118.8% during 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 during the last quarter. Gordian Capital Singapore Pte Ltd lifted its holdings in Ouster by 38.1% during 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 during the last quarter. SHP Wealth Management acquired a new stake in Ouster during the 4th quarter worth approximately $96,000. Finally, Van ECK Associates Corp lifted its holdings in Ouster by 17.1% during 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 during the last quarter. 31.45% of the stock is currently owned by institutional investors and hedge funds.

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.