Ouster (NYSE:OUST) Sees Strong Trading Volume After Analyst Upgrade

Ouster, Inc. (NYSE:OUST) saw strong trading volume on Friday after Cantor Fitzgerald raised their price target on the stock from $10.00 to $11.00. Cantor Fitzgerald currently has an overweight rating on the stock. 3,761,063 shares changed hands during trading, an increase of 182% from the previous session’s volume of 1,335,890 shares.The stock last traded at $10.43 and had previously closed at $8.38.

A number of other equities research analysts have also recently weighed in on the stock. Northland Securities assumed coverage on shares of Ouster in a research report on Thursday, December 12th. They set an “outperform” rating and a $14.00 price target for the company. Westpark Capital initiated coverage on shares of Ouster in a report on Monday. They issued a “hold” rating for the company. Northland Capmk raised Ouster to a “strong-buy” rating in a research report on Thursday, December 12th. Finally, Rosenblatt Securities restated a “buy” rating and set a $17.00 price target on shares of Ouster in a research report on Friday. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Ouster has a consensus rating of “Moderate Buy” and a consensus target price of $13.33.

Institutional Investors Weigh In On Ouster

A number of hedge funds have recently added to or reduced their stakes in the business. Squarepoint Ops LLC increased its position in shares of Ouster by 146.2% during the fourth quarter. Squarepoint Ops LLC now owns 127,082 shares of the company’s stock worth $1,553,000 after acquiring an additional 75,470 shares during the period. ProShare Advisors LLC increased its holdings in Ouster by 52.4% during the 4th quarter. ProShare Advisors LLC now owns 21,136 shares of the company’s stock worth $258,000 after purchasing an additional 7,267 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Ouster by 10.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,307 shares of the company’s stock worth $321,000 after purchasing an additional 2,542 shares during the period. Graham Capital Management L.P. boosted its stake in shares of Ouster by 10.1% in the 4th quarter. Graham Capital Management L.P. now owns 63,228 shares of the company’s stock valued at $773,000 after buying an additional 5,787 shares during the period. Finally, Deutsche Bank AG grew its position in shares of Ouster by 30.8% during the fourth quarter. Deutsche Bank AG now owns 31,137 shares of the company’s stock worth $380,000 after buying an additional 7,329 shares in the last quarter. 31.45% of the stock is currently owned by institutional investors and hedge funds.

Ouster Price Performance

The stock’s 50 day moving average is $9.41 and its two-hundred day moving average is $8.90. The stock has a market capitalization of $526.43 million, a PE ratio of -4.07 and a beta of 2.38.

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.