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

Ouster, Inc. (NYSE:OUST) has been given an average recommendation of “Buy” by the seven brokerages that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $13.17.

A number of analysts have commented on OUST shares. Northland Securities started coverage on shares of Ouster in a research report on Thursday, December 12th. They set an “outperform” rating and a $14.00 price target on the stock. Northland Capmk upgraded Ouster to a “strong-buy” rating in a research report on Thursday, December 12th. Rosenblatt Securities restated a “buy” rating and set a $17.00 target price on shares of Ouster in a research report on Friday, November 8th. Finally, Cantor Fitzgerald upgraded Ouster from a “neutral” rating to an “overweight” rating and cut their price target for the stock from $12.00 to $10.00 in a report on Monday, November 11th.

Insider Activity

In other Ouster news, CEO Charles Angus Pacala acquired 50,954 shares of Ouster stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average cost of $9.79 per share, for a total transaction of $498,839.66. Following the purchase, the chief executive officer now owns 769,957 shares of the company’s stock, valued at approximately $7,537,879.03. This represents a 7.09 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Megan Chung sold 13,671 shares of Ouster stock in a transaction that occurred 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 transaction, the general counsel now owns 149,647 shares of the company’s stock, valued at $1,450,079.43. This represents a 8.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,500 shares of company stock valued at $469,814 in the last ninety days. 7.81% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ouster

Several hedge funds have recently bought and sold shares of OUST. Van ECK Associates Corp grew its position in Ouster by 28.4% during the third quarter. Van ECK Associates Corp now owns 7,264 shares of the company’s stock worth $46,000 after buying an additional 1,608 shares in the last quarter. Stoneridge Investment Partners LLC purchased a new position in shares of Ouster during the third quarter worth about $67,000. Intech Investment Management LLC purchased a new position in shares of Ouster during the third quarter worth about $81,000. Daiwa Securities Group Inc. grew its holdings in shares of Ouster by 18.0% during the fourth quarter. Daiwa Securities Group Inc. now owns 6,977 shares of the company’s stock worth $85,000 after purchasing an additional 1,063 shares in the last quarter. Finally, AlphaQuest LLC grew its holdings in shares of Ouster by 916.0% during the fourth quarter. AlphaQuest LLC now owns 8,270 shares of the company’s stock worth $101,000 after purchasing an additional 7,456 shares in the last quarter. Hedge funds and other institutional investors own 31.45% of the company’s stock.

Ouster Stock Performance

NYSE:OUST opened at $8.25 on Tuesday. The firm’s fifty day moving average is $10.83 and its 200-day moving average is $8.87. Ouster has a 52 week low of $4.65 and a 52 week high of $16.88. The firm has a market cap of $410.61 million, a P/E ratio of -3.21 and a beta of 2.36.

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.