Ouster (NYSE:OUST) Trading 4.4% Higher – Should You Buy?

Ouster, Inc. (NYSE:OUST) shares traded up 4.4% during trading on Thursday . The stock traded as high as $10.19 and last traded at $10.05. 615,083 shares traded hands during trading, a decline of 47% from the average session volume of 1,160,485 shares. The stock had previously closed at $9.63.

Analyst Ratings Changes

A number of brokerages recently commented on OUST. Northland Securities assumed coverage on shares of Ouster in a report on Thursday. They issued an “outperform” rating and a $14.00 price target for the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $17.00 price objective on shares of Ouster in a research report on Friday, November 8th. Cantor Fitzgerald raised Ouster from a “neutral” rating to an “overweight” rating and lowered their price objective for the stock from $12.00 to $10.00 in a research report on Monday, November 11th. Finally, Northland Capmk upgraded Ouster to a “strong-buy” rating in a research note on Thursday. One equities research 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.com, the company has an average rating of “Buy” and an average target price of $13.17.

Ouster Price Performance

The stock’s fifty day moving average is $8.37 and its 200-day moving average is $9.23. The stock has a market cap of $451.92 million, a PE ratio of -3.53 and a beta of 2.50.

Insider Activity at Ouster

In related news, CFO Mark Weinswig sold 31,397 shares of the stock in a transaction on 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 sale, the chief financial officer now owns 198,650 shares in the company, valued at $1,732,228. This represents a 13.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 7.81% of the company’s stock.

Hedge Funds Weigh In On Ouster

A number of large investors have recently modified their holdings of the business. Marshall Wace LLP increased its stake in Ouster by 184.9% in the 2nd quarter. Marshall Wace LLP now owns 653,530 shares of the company’s stock valued at $6,424,000 after purchasing an additional 424,178 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Ouster during the 2nd quarter worth approximately $1,305,000. Renaissance Technologies LLC purchased a new stake in Ouster during the 2nd quarter worth about $1,217,000. GSA Capital Partners LLP acquired a new position in shares of Ouster in the third quarter valued at approximately $706,000. Finally, SG Americas Securities LLC increased its stake in Ouster by 783.0% in the second quarter. SG Americas Securities LLC now owns 99,063 shares of the company’s stock valued at $974,000 after purchasing an additional 87,844 shares during the last quarter. 31.45% of the stock is owned by hedge funds and other institutional investors.

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.