Ouster (NYSE:OUST) Trading Up 6.9% – Time to Buy?

Ouster, Inc. (NYSE:OUST) was up 6.9% during mid-day trading on Friday . The stock traded as high as $30.98 and last traded at $30.62. Approximately 1,651,357 shares changed hands during trading, a decline of 19% from the average daily volume of 2,049,815 shares. The stock had previously closed at $28.64.

Analyst Ratings Changes

OUST has been the topic of several recent research reports. Westpark Capital downgraded shares of Ouster from a “buy” rating to a “hold” rating in a research report on Thursday, June 12th. Oppenheimer initiated coverage on shares of Ouster in a research report on Thursday, March 27th. They set an “outperform” rating and a $16.00 price objective for the company. UBS Group set a $16.00 price objective on shares of Ouster in a research note on Thursday, March 27th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $19.00 price objective on shares of Ouster in a report on Thursday, June 12th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $15.24.

Ouster Price Performance

The stock has a market capitalization of $1.65 billion, a PE ratio of -11.93 and a beta of 2.75. The business’s fifty day moving average price is $18.35 and its two-hundred day moving average price is $12.35.

Hedge Funds Weigh In On Ouster

A number of institutional investors have recently modified their holdings of OUST. Byrne Asset Management LLC bought a new position in shares of Ouster during the 1st quarter valued at about $39,000. FNY Investment Advisers LLC acquired a new stake in shares of Ouster in the first quarter worth $49,000. AlphaQuest LLC grew its stake in shares of Ouster by 27.8% in the first quarter. AlphaQuest LLC now owns 10,566 shares of the company’s stock worth $95,000 after acquiring an additional 2,296 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Ouster in the 1st quarter valued at $97,000. Finally, CWM LLC increased its holdings in Ouster by 1,094.9% in the 1st quarter. CWM LLC now owns 11,591 shares of the company’s stock valued at $104,000 after buying an additional 10,621 shares during the period. 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.