Ouster (NYSE:OUST) Sets New 12-Month High – Still a Buy?

Ouster, Inc. (NYSE:OUST)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as $36.77 and last traded at $36.16, with a volume of 4645167 shares changing hands. The stock had previously closed at $31.07.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on OUST. Zacks Research downgraded shares of Ouster from a “strong-buy” rating to a “hold” rating in a research report on Monday. Westpark Capital upgraded shares of Ouster from a “hold” rating to a “buy” rating in a research report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Ouster currently has an average rating of “Moderate Buy” and a consensus price target of $15.95.

Ouster Stock Performance

The stock has a market cap of $1.82 billion, a price-to-earnings ratio of -12.26 and a beta of 2.72. The company’s 50 day simple moving average is $30.30 and its 200 day simple moving average is $20.81.

Insider Activity at Ouster

In other Ouster news, General Counsel Megan Chung sold 17,183 shares of the firm’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $28.46, for a total transaction of $489,028.18. Following the transaction, the general counsel owned 203,036 shares of the company’s stock, valued at approximately $5,778,404.56. This trade represents a 7.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Mark Frichtl sold 25,329 shares of the firm’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $28.46, for a total transaction of $720,863.34. Following the transaction, the chief technology officer directly owned 665,403 shares in the company, valued at approximately $18,937,369.38. The trade was a 3.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 98,778 shares of company stock worth $2,811,222 in the last 90 days. Corporate insiders own 6.63% of the company’s stock.

Hedge Funds Weigh In On Ouster

Several hedge funds have recently made changes to their positions in OUST. GAMMA Investing LLC grew its stake in shares of Ouster by 9,703.8% in the 1st quarter. GAMMA Investing LLC now owns 15,392 shares of the company’s stock worth $138,000 after purchasing an additional 15,235 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Ouster by 2.9% in the 1st quarter. Rhumbline Advisers now owns 81,475 shares of the company’s stock worth $732,000 after purchasing an additional 2,284 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Ouster in the 1st quarter worth approximately $97,000. Bank of New York Mellon Corp grew its stake in shares of Ouster by 4.9% in the 1st quarter. Bank of New York Mellon Corp now owns 107,005 shares of the company’s stock worth $961,000 after purchasing an additional 5,046 shares during the last quarter. Finally, CWM LLC grew its stake in shares of Ouster by 1,094.9% in the 1st quarter. CWM LLC now owns 11,591 shares of the company’s stock worth $104,000 after purchasing an additional 10,621 shares during the last quarter. 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.