Ouster (NYSE:OUST) Stock Price Up 6.4% – Still a Buy?

Ouster, Inc. (NYSE:OUST) shares were up 6.4% during mid-day trading on Friday . The stock traded as high as $13.25 and last traded at $13.14. Approximately 407,789 shares changed hands during trading, a decline of 59% from the average daily volume of 988,935 shares. The stock had previously closed at $12.35.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on OUST shares. Rosenblatt Securities restated a “buy” rating and issued a $17.00 price objective on shares of Ouster in a report on Friday, November 8th. Northland Securities began coverage on Ouster in a report on Thursday, December 12th. They issued an “outperform” rating and a $14.00 target price for the company. Northland Capmk upgraded Ouster to a “strong-buy” rating in a report on Thursday, December 12th. Finally, Cantor Fitzgerald upgraded Ouster from a “neutral” rating to an “overweight” rating and decreased their price objective for the company from $12.00 to $10.00 in a research note on Monday, November 11th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $13.17.

Ouster Price Performance

The company has a 50 day moving average price of $9.64 and a 200 day moving average price of $9.28. The firm has a market cap of $704.26 million, a PE ratio of -5.51 and a beta of 2.50.

Insider Transactions at Ouster

In other Ouster news, CFO Mark Weinswig sold 31,397 shares of Ouster stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $8.72, for a total transaction of $273,781.84. Following the completion of the transaction, the chief financial officer now owns 198,650 shares in the company, valued at approximately $1,732,228. The trade was a 13.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Darien Spencer sold 14,869 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $9.69, for a total transaction of $144,080.61. Following the completion of the sale, the chief operating officer now owns 291,718 shares in the company, valued at $2,826,747.42. This represents a 4.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 80,415 shares of company stock worth $748,620. Company insiders own 7.81% of the company’s stock.

Institutional Investors Weigh In On Ouster

Large investors have recently bought and sold shares of the stock. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Ouster during the 2nd quarter worth $27,000. Van ECK Associates Corp lifted its stake in shares of Ouster by 28.4% in the 3rd quarter. Van ECK Associates Corp now owns 7,264 shares of the company’s stock valued at $46,000 after purchasing an additional 1,608 shares in the last quarter. Stoneridge Investment Partners LLC purchased a new stake in Ouster during the third quarter worth approximately $67,000. True North Advisors LLC acquired a new stake in Ouster in the 3rd quarter valued at $78,000. Finally, Intech Investment Management LLC purchased a new position in Ouster in the third quarter valued at about $81,000. Institutional investors and hedge funds own 31.45% of the company’s stock.

Ouster Company Profile

Ouster, Inc provides lidar sensors for the automotive, industrial, robotics, and smart infrastructure industries in Americas, the Asia-Pacific, Europe, the Middle East, and Africa. Its products include high-resolution scanning and solid-state digital lidar sensors, analog lidar sensors, and software solutions.