Ouster (NYSE:OUST) Rating Increased to Overweight at Cantor Fitzgerald

Ouster (NYSE:OUST) was upgraded by equities research analysts at Cantor Fitzgerald from a “neutral” rating to an “overweight” rating in a note issued to investors on Thursday,Benzinga reports.

A number of other brokerages have also issued reports on OUST. Westpark Capital reissued a “buy” rating and issued a $50.00 target price on shares of Ouster in a research report on Wednesday. Oppenheimer reaffirmed an “outperform” rating and set a $39.00 price target on shares of Ouster in a research report on Wednesday. Northland Securities set a $38.00 price target on Ouster in a research report on Wednesday. Finally, Zacks Research lowered Ouster from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Ouster has a consensus rating of “Buy” and a consensus target price of $29.83.

Ouster Stock Performance

Ouster stock traded down $1.74 during midday trading on Thursday, reaching $24.13. The stock had a trading volume of 4,101,027 shares, compared to its average volume of 2,361,107. The firm’s fifty day simple moving average is $30.66 and its 200-day simple moving average is $23.40. Ouster has a 1-year low of $6.34 and a 1-year high of $41.65. The stock has a market capitalization of $1.40 billion, a P/E ratio of -9.39 and a beta of 2.74.

Insiders Place Their Bets

In other Ouster news, CEO Charles Angus Pacala sold 37,992 shares of the company’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $28.46, for a total value of $1,081,252.32. Following the transaction, the chief executive officer directly owned 1,009,927 shares of the company’s stock, valued at $28,742,522.42. This represents a 3.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CTO Mark Frichtl sold 25,329 shares of the company’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $28.46, for a total value of $720,863.34. Following the completion of the transaction, the chief technology officer directly owned 665,403 shares in the company, valued at approximately $18,937,369.38. This represents a 3.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 104,615 shares of company stock valued at $2,992,286. 6.63% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OUST. Invesco Ltd. grew its holdings in Ouster by 1,521.8% in the 2nd quarter. Invesco Ltd. now owns 571,662 shares of the company’s stock valued at $13,863,000 after buying an additional 536,413 shares in the last quarter. AQR Capital Management LLC grew its holdings in Ouster by 610.1% in the 1st quarter. AQR Capital Management LLC now owns 296,311 shares of the company’s stock valued at $2,661,000 after buying an additional 254,580 shares in the last quarter. HRT Financial LP acquired a new position in Ouster in the 2nd quarter valued at $5,683,000. Herald Investment Management Ltd acquired a new position in Ouster in the 1st quarter valued at $1,794,000. Finally, SG Americas Securities LLC acquired a new position in Ouster in the 3rd quarter valued at $5,224,000. 31.45% of the stock is owned by institutional investors and hedge funds.

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.