Ouster (NASDAQ:OUST) Upgraded at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Ouster (NASDAQ:OUST) from a neutral rating to an overweight rating in a report issued on Wednesday, MarketBeat.com reports. They currently have $45.00 price objective on the stock.

Several other research analysts have also commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Ouster in a report on Wednesday, August 12th. Northland Securities set a $60.00 price target on Ouster and gave the company an “outperform” rating in a research report on Tuesday, July 21st. Rosenblatt Securities restated a “buy” rating and set a $53.00 price target on shares of Ouster in a research note on Thursday, August 27th. Oppenheimer reissued an “outperform” rating and set a $57.00 target price (up from $42.00) on shares of Ouster in a report on Wednesday, July 15th. Finally, Citigroup restated an “outperform” rating on shares of Ouster in a research report on Tuesday, July 21st. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $58.00.

Ouster Trading Up 14.0%

NASDAQ:OUST opened at $34.79 on Wednesday. The company has a market capitalization of $2.51 billion, a P/E ratio of -50.42 and a beta of 3.47. Ouster has a 12 month low of $16.40 and a 12 month high of $63.79. The business’s 50-day moving average is $35.36 and its 200 day moving average is $32.54.

Ouster (NASDAQ:OUST) last released its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.12). The firm had revenue of $59.33 million during the quarter, compared to analysts’ expectations of $56.30 million. Ouster had a negative net margin of 26.02% and a negative return on equity of 17.49%. On average, research analysts forecast that Ouster will post -0.97 earnings per share for the current year.

Insiders Place Their Bets

In other Ouster news, CEO Charles Pacala sold 30,385 shares of the firm’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $33.96, for a total transaction of $1,031,874.60. Following the completion of the transaction, the chief executive officer owned 1,041,816 shares of the company’s stock, valued at approximately $35,380,071.36. This trade represents a 2.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Mark Frichtl sold 18,778 shares of the firm’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $33.96, for a total transaction of $637,700.88. Following the completion of the transaction, the chief technology officer directly owned 318,987 shares in the company, valued at $10,832,798.52. This represents a 5.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 138,037 shares of company stock worth $5,142,537 over the last 90 days. 5.72% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ouster

Institutional investors have recently added to or reduced their stakes in the company. Aberdeen Group plc acquired a new stake in Ouster in the 3rd quarter valued at approximately $16,777,000. Csenge Advisory Group bought a new position in Ouster in the 3rd quarter worth approximately $573,000. Penn Capital Management Company LLC grew its position in shares of Ouster by 5.2% in the 3rd quarter. Penn Capital Management Company LLC now owns 689,989 shares of the company’s stock worth $27,885,000 after buying an additional 33,901 shares during the last quarter. 180 Wealth Advisors LLC lifted its holdings in shares of Ouster by 1.3% during the 3rd quarter. 180 Wealth Advisors LLC now owns 59,290 shares of the company’s stock valued at $2,392,000 after buying an additional 744 shares during the period. Finally, Parallel Advisors LLC increased its position in shares of Ouster by 66.2% during the 3rd quarter. Parallel Advisors LLC now owns 866 shares of the company’s stock valued at $35,000 after purchasing an additional 345 shares during the last quarter. Institutional investors and hedge funds own 31.45% of the company’s stock.

About Ouster

Ouster, Inc is a technology company that develops and manufactures digital lidar sensors and related software. Its lidar systems use laser light to detect and measure surrounding objects, supporting applications that require real-time perception, mapping, and automation.

The company’s products are designed for customers in the automotive, industrial automation, robotics, infrastructure, mapping, security, and smart-city markets. Ouster provides lidar sensors for uses such as autonomous and assisted driving, warehouse and industrial operations, traffic monitoring, asset inspection, and other machine-perception applications.