Ouster, Inc. (NYSE:OUST) Receives Average Rating of “Buy” from Brokerages

Ouster, Inc. (NYSE:OUST) has been assigned a consensus recommendation of “Buy” from the seven ratings firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $13.17.

Several research firms have recently weighed in on OUST. Northland Capmk upgraded shares of Ouster to a “strong-buy” rating in a research report on Thursday, December 12th. Rosenblatt Securities restated a “buy” rating and issued a $17.00 price target on shares of Ouster in a research report on Friday, November 8th. Cantor Fitzgerald raised Ouster from a “neutral” rating to an “overweight” rating and dropped their price target for the company from $12.00 to $10.00 in a report on Monday, November 11th. Finally, Northland Securities initiated coverage on Ouster in a research note on Thursday, December 12th. They set an “outperform” rating and a $14.00 price objective for the company.

Ouster Stock Up 18.5 %

Shares of OUST stock opened at $14.64 on Monday. The stock has a 50-day simple moving average of $9.78 and a 200 day simple moving average of $9.28. The stock has a market capitalization of $728.65 million, a P/E ratio of -5.70 and a beta of 2.39. Ouster has a fifty-two week low of $4.65 and a fifty-two week high of $16.88.

Insider Activity

In other Ouster news, General Counsel Megan Chung sold 13,671 shares of Ouster stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $9.69, for a total transaction of $132,471.99. Following the completion of the sale, the general counsel now owns 149,647 shares of the company’s stock, valued at $1,450,079.43. This trade represents a 8.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Darien Spencer sold 14,869 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $9.69, for a total transaction of $144,080.61. Following the completion of the transaction, the chief operating officer now directly owns 291,718 shares in the company, valued at $2,826,747.42. This trade represents a 4.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 80,415 shares of company stock worth $748,620 over the last quarter. Corporate insiders own 7.81% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. GSA Capital Partners LLP acquired a new stake in shares of Ouster during the 3rd quarter valued at about $706,000. Geode Capital Management LLC lifted its stake in Ouster by 6.8% in the third quarter. Geode Capital Management LLC now owns 975,407 shares of the company’s stock valued at $6,146,000 after acquiring an additional 62,202 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Ouster in the second quarter worth approximately $1,217,000. Stifel Financial Corp increased its stake in shares of Ouster by 286.7% during the 3rd quarter. Stifel Financial Corp now owns 59,718 shares of the company’s stock worth $376,000 after purchasing an additional 44,275 shares during the last quarter. Finally, Barclays PLC raised its holdings in shares of Ouster by 280.6% during the 3rd quarter. Barclays PLC now owns 57,330 shares of the company’s stock valued at $361,000 after purchasing an additional 42,267 shares in the last quarter. Hedge funds and other institutional investors own 31.45% of the company’s stock.

About Ouster

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.