Ouster, Inc. (NYSE:OUST) Given Consensus Rating of “Buy” by Brokerages

Shares of Ouster, Inc. (NYSE:OUST) have been given an average recommendation of “Buy” by the seven research firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $13.17.

A number of brokerages have recently weighed in on OUST. Rosenblatt Securities reissued a “buy” rating and set a $17.00 price target on shares of Ouster in a research report on Friday, November 8th. Northland Securities initiated coverage on Ouster in a research note on Thursday, December 12th. They issued an “outperform” rating and a $14.00 target price for the company. Cantor Fitzgerald raised Ouster from a “neutral” rating to an “overweight” rating and dropped their price target for the stock from $12.00 to $10.00 in a research report on Monday, November 11th. Finally, Northland Capmk upgraded Ouster to a “strong-buy” rating in a report on Thursday, December 12th.

Ouster Price Performance

Ouster stock opened at $11.32 on Monday. Ouster has a fifty-two week low of $4.65 and a fifty-two week high of $16.88. The firm has a market capitalization of $563.41 million, a price-to-earnings ratio of -4.40 and a beta of 2.39. The company’s 50 day simple moving average is $10.40 and its 200 day simple moving average is $9.40.

Insider Buying and Selling

In other news, CFO Mark Weinswig sold 31,397 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $8.72, for a total value of $273,781.84. Following the sale, the chief financial officer now owns 198,650 shares of the company’s stock, valued at $1,732,228. The trade was a 13.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Megan Chung sold 13,671 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $9.69, for a total transaction of $132,471.99. Following the completion of the transaction, the general counsel now directly owns 149,647 shares of the company’s stock, valued at approximately $1,450,079.43. This trade represents a 8.37 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 80,415 shares of company stock worth $748,620. 7.81% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ouster

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Marshall Wace LLP raised its stake in shares of Ouster by 184.9% during the 2nd quarter. Marshall Wace LLP now owns 653,530 shares of the company’s stock worth $6,424,000 after purchasing an additional 424,178 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in Ouster during the second quarter worth $1,305,000. Renaissance Technologies LLC bought a new stake in Ouster during the second quarter worth $1,217,000. GSA Capital Partners LLP acquired a new stake in Ouster in the third quarter valued at $706,000. Finally, Geode Capital Management LLC grew its position in shares of Ouster by 6.8% in the 3rd quarter. Geode Capital Management LLC now owns 975,407 shares of the company’s stock valued at $6,146,000 after acquiring an additional 62,202 shares during the period. 31.45% of the stock is owned by institutional investors.

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.