Ouster (NYSE:OUST) Reaches New 12-Month High – Time to Buy?

Ouster, Inc. (NYSE:OUST) shares hit a new 52-week high on Tuesday . The company traded as high as $17.18 and last traded at $16.65, with a volume of 2850399 shares. The stock had previously closed at $15.19.

Wall Street Analyst Weigh In

Several equities analysts recently commented on OUST shares. Westpark Capital raised shares of Ouster from a “hold” rating to a “buy” rating and set a $13.68 target price on the stock in a report on Friday, May 9th. Rosenblatt Securities reaffirmed a “buy” rating and set a $17.00 price objective on shares of Ouster in a research note on Friday, March 21st. UBS Group set a $16.00 price objective on Ouster in a report on Thursday, March 27th. Oppenheimer started coverage on Ouster in a research report on Thursday, March 27th. They set an “outperform” rating and a $16.00 price target on the stock. Finally, Cantor Fitzgerald boosted their price objective on Ouster from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Ouster presently has a consensus rating of “Buy” and an average target price of $14.10.

Ouster Stock Up 6.0%

The company has a market capitalization of $865.85 million, a PE ratio of -6.28 and a beta of 2.48. The stock’s fifty day moving average price is $9.36 and its two-hundred day moving average price is $9.84.

Insiders Place Their Bets

In other Ouster news, General Counsel Megan Chung sold 5,800 shares of the company’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $11.24, for a total value of $65,192.00. Following the completion of the transaction, the general counsel now directly owns 220,762 shares in the company, valued at approximately $2,481,364.88. This represents a 2.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders sold 9,099 shares of company stock worth $90,460. 6.63% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ouster

A number of institutional investors have recently bought and sold shares of OUST. Legato Capital Management LLC boosted its position in Ouster by 16.3% during the 4th quarter. Legato Capital Management LLC now owns 65,860 shares of the company’s stock valued at $805,000 after acquiring an additional 9,228 shares in the last quarter. Rhumbline Advisers grew its stake in Ouster by 6.6% in the fourth quarter. Rhumbline Advisers now owns 79,191 shares of the company’s stock worth $968,000 after purchasing an additional 4,900 shares during the period. New York State Common Retirement Fund raised its holdings in Ouster by 25.8% in the fourth quarter. New York State Common Retirement Fund now owns 759,491 shares of the company’s stock worth $9,281,000 after purchasing an additional 155,640 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Ouster by 1.1% in the fourth quarter. Bank of New York Mellon Corp now owns 101,959 shares of the company’s stock worth $1,246,000 after purchasing an additional 1,074 shares in the last quarter. Finally, SVB Wealth LLC purchased a new position in Ouster during the fourth quarter valued at $163,000. 31.45% of the stock is owned by 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.