Ouster (NASDAQ:OUST) Reaches New 12-Month High – Should You Buy?

Ouster, Inc. (NASDAQ:OUST) shares hit a new 52-week high on Wednesday . The stock traded as high as $45.42 and last traded at $42.70, with a volume of 8578035 shares traded. The stock had previously closed at $37.03.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $40.00 price target on shares of Ouster in a research report on Tuesday, March 3rd. Cantor Fitzgerald cut shares of Ouster from an “overweight” rating to a “neutral” rating in a research report on Thursday, May 7th. Weiss Ratings assumed coverage on shares of Ouster in a research report on Friday, May 15th. They set a “sell (d-)” rating for the company. Finally, Rosenblatt Securities reissued a “buy” rating and set a $40.00 target price on shares of Ouster in a research report on Tuesday, March 3rd. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $40.20.

Ouster Price Performance

The stock’s fifty day simple moving average is $25.30 and its 200-day simple moving average is $23.50. The firm has a market cap of $2.68 billion, a PE ratio of -44.02 and a beta of 3.06.

Insider Activity

In related news, CTO Mark Frichtl sold 4,316 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $36.00, for a total transaction of $155,376.00. Following the sale, the chief technology officer owned 628,638 shares in the company, valued at approximately $22,630,968. This trade represents a 0.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Cyrille Jacquemet sold 10,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $35.00, for a total transaction of $350,000.00. Following the sale, the executive owned 132,590 shares in the company, valued at approximately $4,640,650. This represents a 7.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 503,475 shares of company stock worth $14,196,335 in the last ninety days. Corporate insiders own 5.72% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of OUST. Invesco Ltd. raised its position in shares of Ouster by 1,521.8% during the 2nd quarter. Invesco Ltd. now owns 571,662 shares of the company’s stock worth $13,863,000 after purchasing an additional 536,413 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Ouster during the 1st quarter worth about $8,915,000. Vanguard Group Inc. raised its position in shares of Ouster by 11.3% during the 3rd quarter. Vanguard Group Inc. now owns 4,720,264 shares of the company’s stock worth $127,683,000 after purchasing an additional 478,372 shares during the last quarter. Handelsbanken Fonder AB raised its position in shares of Ouster by 130.7% during the 4th quarter. Handelsbanken Fonder AB now owns 715,646 shares of the company’s stock worth $15,479,000 after purchasing an additional 405,441 shares during the last quarter. Finally, Squarepoint Ops LLC raised its position in shares of Ouster by 517.5% during the 4th quarter. Squarepoint Ops LLC now owns 401,727 shares of the company’s stock worth $8,693,000 after purchasing an additional 336,673 shares during the last quarter. Institutional investors and hedge funds own 31.45% of the company’s stock.

About Ouster

Ouster, Inc is a leading provider of high-resolution digital lidar sensors, software and services designed to enable advanced perception capabilities across a range of industries. Headquartered in San Francisco, California, the company develops modular lidar solutions that capture precise three-dimensional data in real time, supporting applications from autonomous vehicles and robotics to mapping, smart infrastructure and industrial automation.

The company’s core product lineup features multi-beam digital lidar units available in various form factors, including compact models for robotics and drones and larger units for automotive and mapping systems.