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

Ouster, Inc. (NYSE:OUST) has earned a consensus rating of “Buy” from the seven brokerages that are covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $14.10.

A number of analysts have recently weighed in on OUST shares. Rosenblatt Securities reiterated a “buy” rating and set a $17.00 target price on shares of Ouster in a report on Friday, March 21st. Oppenheimer assumed coverage on shares of Ouster in a research report on Thursday, March 27th. They issued an “outperform” rating and a $16.00 target price for the company. Cantor Fitzgerald lifted their price target on shares of Ouster from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. Westpark Capital upgraded shares of Ouster from a “hold” rating to a “buy” rating and set a $13.68 target price on the stock in a research note on Friday, May 9th. Finally, UBS Group set a $16.00 price target on shares of Ouster in a report on Thursday, March 27th.

Ouster Stock Performance

Ouster stock opened at $15.19 on Thursday. The firm’s fifty day moving average price is $9.36 and its 200-day moving average price is $9.84. Ouster has a fifty-two week low of $5.84 and a fifty-two week high of $16.88. The stock has a market cap of $816.71 million, a P/E ratio of -5.91 and a beta of 2.48.

Insider Buying and Selling at Ouster

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. Insiders sold a total of 9,099 shares of company stock valued at $90,460 in the last three months. Company insiders own 6.63% of the company’s stock.

Institutional Investors Weigh In On Ouster

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Byrne Asset Management LLC acquired a new position in Ouster during the 1st quarter valued at approximately $39,000. FNY Investment Advisers LLC acquired a new stake in shares of Ouster in the first quarter valued at about $49,000. Daiwa Securities Group Inc. grew 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 valued at $85,000 after purchasing an additional 1,063 shares during the period. AlphaQuest LLC grew its position in shares of Ouster by 27.8% in the first quarter. AlphaQuest LLC now owns 10,566 shares of the company’s stock valued at $95,000 after purchasing an additional 2,296 shares during the period. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in Ouster during the first quarter worth about $97,000. 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.