Ouster, Inc. (NASDAQ:OUST) Given Average Rating of “Hold” by Brokerages

Ouster, Inc. (NASDAQ:OUST) has been given a consensus recommendation of “Hold” by the seven ratings firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $48.1667.

Several research firms recently weighed in on OUST. Cantor Fitzgerald lowered Ouster from an “overweight” rating to a “neutral” rating in a research note on Thursday, May 7th. Weiss Ratings started coverage on shares of Ouster in a research report on Friday, May 15th. They set a “sell (d-)” rating for the company. Oppenheimer restated an “outperform” rating and issued a $40.00 target price on shares of Ouster in a research report on Tuesday, March 3rd. Roth Mkm assumed coverage on shares of Ouster in a research note on Friday, May 29th. They set a “buy” rating and a $75.00 target price on the stock. Finally, Rosenblatt Securities upped their price target on shares of Ouster from $40.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th.

Ouster Stock Performance

Shares of OUST opened at $39.61 on Friday. Ouster has a 52-week low of $16.40 and a 52-week high of $49.39. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of -40.83 and a beta of 3.24. The business’s fifty day moving average is $30.77 and its 200-day moving average is $25.19.

Insider Transactions at Ouster

In other Ouster news, CTO Mark Frichtl sold 308,742 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $41.53, for a total value of $12,822,055.26. Following the completion of the transaction, the chief technology officer directly owned 294,924 shares in the company, valued at approximately $12,248,193.72. This trade represents a 51.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Darien Spencer sold 30,000 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $45.00, for a total value of $1,350,000.00. Following the sale, the chief operating officer owned 342,366 shares in the company, valued at approximately $15,406,470. This trade represents a 8.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 866,457 shares of company stock valued at $30,104,534. Insiders own 5.72% of the company’s stock.

Institutional Investors Weigh In On Ouster

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Ouster by 11.3% in the 3rd quarter. Vanguard Group Inc. now owns 4,720,264 shares of the company’s stock valued at $127,683,000 after acquiring an additional 478,372 shares during the period. Geode Capital Management LLC grew its stake in shares of Ouster by 9.1% in the fourth quarter. Geode Capital Management LLC now owns 1,421,130 shares of the company’s stock worth $30,758,000 after purchasing an additional 118,132 shares during the last quarter. Penn Capital Management Company LLC increased its holdings in Ouster by 24.1% in the fourth quarter. Penn Capital Management Company LLC now owns 775,297 shares of the company’s stock valued at $16,817,000 after purchasing an additional 150,337 shares during the period. Handelsbanken Fonder AB increased its holdings in Ouster by 130.7% in the fourth quarter. Handelsbanken Fonder AB now owns 715,646 shares of the company’s stock valued at $15,479,000 after purchasing an additional 405,441 shares during the period. Finally, Invesco Ltd. raised its position in Ouster by 1,521.8% during the 2nd quarter. Invesco Ltd. now owns 571,662 shares of the company’s stock worth $13,863,000 after purchasing an additional 536,413 shares during the last quarter. 31.45% of the stock is owned by institutional investors.

About Ouster

Ouster, Inc is a leading provider of high-resolution digital lidar sensors, software and services designed to enable advanced perception capabilities across a range of industries. Headquartered in San Francisco, California, the company develops modular lidar solutions that capture precise three-dimensional data in real time, supporting applications from autonomous vehicles and robotics to mapping, smart infrastructure and industrial automation.

The company’s core product lineup features multi-beam digital lidar units available in various form factors, including compact models for robotics and drones and larger units for automotive and mapping systems.