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

Shares of Ouster, Inc. (NYSE:OUST) have received an average rating of “Buy” from the seven analysts that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $14.57.

Several equities research analysts have recently commented on the company. Oppenheimer initiated coverage on Ouster in a research note on Thursday, March 27th. They issued an “outperform” rating and a $16.00 price objective for the company. Cantor Fitzgerald boosted their price objective on Ouster from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. Westpark Capital started coverage on shares of Ouster in a report on Monday, March 17th. They issued a “hold” rating on the stock. UBS Group set a $16.00 target price on shares of Ouster in a report on Thursday, March 27th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $17.00 price objective on shares of Ouster in a research report on Friday, March 21st.

Ouster Trading Up 1.2 %

Shares of OUST stock opened at $6.99 on Wednesday. Ouster has a 12 month low of $5.84 and a 12 month high of $16.88. The stock has a market cap of $347.90 million, a P/E ratio of -2.72 and a beta of 2.23. The company has a 50 day simple moving average of $8.42 and a two-hundred day simple moving average of $9.24.

Insider Activity

In related news, General Counsel Megan Chung sold 5,800 shares of the stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $11.24, for a total transaction of $65,192.00. Following the completion of the sale, the general counsel now owns 220,762 shares of the company’s stock, valued at $2,481,364.88. This represents a 2.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last quarter, insiders sold 9,099 shares of company stock worth $90,460. 7.81% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ouster

Several hedge funds have recently modified their holdings of OUST. Byrne Asset Management LLC acquired a new position in shares of Ouster in the 1st quarter valued at $39,000. FNY Investment Advisers LLC purchased a new position in Ouster in the first quarter valued at $49,000. Daiwa Securities Group Inc. raised its position in shares of Ouster by 18.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 6,977 shares of the company’s stock worth $85,000 after acquiring an additional 1,063 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in Ouster during the first quarter worth approximately $97,000. Finally, AlphaQuest LLC grew its stake in Ouster by 916.0% in the 4th quarter. AlphaQuest LLC now owns 8,270 shares of the company’s stock valued at $101,000 after acquiring an additional 7,456 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.