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

Shares of Ouster, Inc. (NYSE:OUST) have earned an average rating of “Buy” from the seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $13.17.

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

Ouster Stock Up 2.0 %

Shares of NYSE:OUST opened at $8.25 on Tuesday. Ouster has a 12-month low of $4.65 and a 12-month high of $16.88. The stock has a market cap of $410.61 million, a PE ratio of -3.21 and a beta of 2.36. The business has a 50 day moving average of $10.83 and a 200-day moving average of $8.87.

Insider Buying and Selling

In related news, CTO Mark Frichtl acquired 5,045 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average price of $9.78 per share, with a total value of $49,340.10. Following the purchase, the chief technology officer now directly owns 513,121 shares in the company, valued at approximately $5,018,323.38. This trade represents a 0.99 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Megan Chung sold 13,671 shares of the 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 directly owns 149,647 shares of the company’s stock, valued at approximately $1,450,079.43. The trade was a 8.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 48,500 shares of company stock worth $469,814 in the last ninety days. 7.81% of the stock is owned by insiders.

Hedge Funds Weigh In On Ouster

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Ouster by 4.5% in the 4th quarter. Vanguard Group Inc. now owns 3,634,680 shares of the company’s stock valued at $44,416,000 after buying an additional 155,736 shares during the last quarter. State Street Corp raised its holdings in Ouster by 2.4% in the 3rd quarter. State Street Corp now owns 1,649,540 shares of the company’s stock valued at $10,392,000 after buying an additional 37,926 shares during the last quarter. Penn Capital Management Company LLC raised its stake in shares of Ouster by 27.4% during the fourth quarter. Penn Capital Management Company LLC now owns 1,094,528 shares of the company’s stock valued at $13,375,000 after acquiring an additional 235,563 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Ouster by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 1,022,274 shares of the company’s stock valued at $12,495,000 after acquiring an additional 46,867 shares during the last quarter. Finally, New York State Common Retirement Fund raised its stake in shares of Ouster by 25.8% during the fourth quarter. New York State Common Retirement Fund now owns 759,491 shares of the company’s stock valued at $9,281,000 after acquiring an additional 155,640 shares during the last quarter. 31.45% of the stock is currently owned by institutional investors.

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.