Ouster (NYSE:OUST) Stock Price Up 7% – Should You Buy?

Ouster, Inc. (NYSE:OUST)’s stock price rose 7% on Thursday . The stock traded as high as $11.26 and last traded at $11.00. Approximately 908,776 shares were traded during trading, a decline of 39% from the average daily volume of 1,501,888 shares. The stock had previously closed at $10.28.

Analyst Ratings Changes

OUST has been the subject of several recent analyst reports. Northland Capmk raised Ouster to a “strong-buy” rating in a report on Thursday, December 12th. Rosenblatt Securities reiterated a “buy” rating and issued a $17.00 price target on shares of Ouster in a research note on Friday, November 8th. Cantor Fitzgerald upgraded shares of 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 note on Monday, November 11th. Finally, Northland Securities started coverage on shares of Ouster in a research note on Thursday, December 12th. They issued an “outperform” rating and a $14.00 target price for the company. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $13.17.

Ouster Price Performance

The company’s 50-day moving average price is $11.00 and its two-hundred day moving average price is $9.20. The company has a market capitalization of $517.11 million, a P/E ratio of -4.04 and a beta of 2.36.

Ouster (NYSE:OUST) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.54) earnings per share (EPS) for the quarter. Ouster had a negative return on equity of 65.17% and a negative net margin of 106.50%. The company had revenue of $28.08 million for the quarter. During the same period in the previous year, the business earned ($0.89) EPS. On average, analysts anticipate that Ouster, Inc. will post -2.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Ouster news, CEO Charles Angus Pacala purchased 50,954 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was bought at an average cost of $9.79 per share, for a total transaction of $498,839.66. Following the completion of the transaction, the chief executive officer now owns 769,957 shares in the company, valued at approximately $7,537,879.03. This represents a 7.09 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, General Counsel Megan Chung sold 13,671 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $9.69, for a total value of $132,471.99. Following the sale, the general counsel now directly owns 149,647 shares in the company, valued at $1,450,079.43. This represents a 8.37 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 80,415 shares of company stock valued at $748,620. Insiders own 7.81% of the company’s stock.

Hedge Funds Weigh In On Ouster

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Daiwa Securities Group Inc. increased its position in shares of Ouster by 18.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 6,977 shares of the company’s stock worth $85,000 after purchasing an additional 1,063 shares during the period. Van ECK Associates Corp grew its stake in Ouster by 28.4% during the third quarter. Van ECK Associates Corp now owns 7,264 shares of the company’s stock worth $46,000 after buying an additional 1,608 shares in the last quarter. AlphaQuest LLC increased its holdings in Ouster by 916.0% in the 4th quarter. AlphaQuest LLC now owns 8,270 shares of the company’s stock valued at $101,000 after buying an additional 7,456 shares during the period. Stoneridge Investment Partners LLC acquired a new position in shares of Ouster in the 3rd quarter valued at approximately $67,000. Finally, Intech Investment Management LLC bought a new stake in shares of Ouster during the 3rd quarter worth 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.