Ouster (NYSE:OUST) Stock Price Up 6.1% – Time to Buy?

Ouster, Inc. (NYSE:OUST) shot up 6.1% during trading on Friday . The company traded as high as $10.25 and last traded at $10.13. 280,418 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 1,154,313 shares. The stock had previously closed at $9.55.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Craig Hallum dropped their price target on Ouster from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, August 14th. Cantor Fitzgerald raised Ouster from a “neutral” rating to an “overweight” rating and cut their target price for the stock from $12.00 to $10.00 in a research note on Monday, November 11th. Westpark Capital reaffirmed a “buy” rating and set a $17.00 target price on shares of Ouster in a research note on Monday, August 12th. Finally, Rosenblatt Securities restated a “buy” rating and set a $17.00 price target on shares of Ouster in a report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $13.00.

Ouster Price Performance

The company’s 50-day simple moving average is $7.57 and its 200 day simple moving average is $9.43.

Insider Buying and Selling at Ouster

In related news, CFO Mark Weinswig sold 31,397 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $8.72, for a total value of $273,781.84. Following the completion of the sale, the chief financial officer now directly owns 198,650 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 40,425 shares of company stock valued at $329,394 in the last quarter. Corporate insiders own 7.81% of the company’s stock.

Institutional Trading of Ouster

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

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.