Analysts Set Ouster, Inc. (NYSE:OUST) Price Target at $14.10

Ouster, Inc. (NYSE:OUST - Get Free Report) has been assigned a consensus recommendation of "Buy" from the seven brokerages that are currently covering the firm, Marketbeat reports. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $14.10.

Several brokerages recently issued reports on OUST. UBS Group set a $16.00 target price on shares of Ouster in a research report on Thursday, March 27th. Oppenheimer began coverage on shares of Ouster in a research report on Thursday, March 27th. They issued an "outperform" rating and a $16.00 target price for the company. Westpark Capital raised shares of Ouster from a "hold" rating to a "buy" rating and set a $13.68 price target for the company in a research note on Friday, May 9th. Rosenblatt Securities reissued a "buy" rating and issued a $17.00 price target on shares of Ouster in a research note on Friday, March 21st. Finally, Cantor Fitzgerald boosted their price target on shares of Ouster from $10.00 to $11.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st.

Insider Activity

In other news, General Counsel Megan Chung sold 5,800 shares of the company's stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $11.24, for a total transaction of $65,192.00. Following the completion of the transaction, the general counsel now directly owns 220,762 shares of the company's stock, valued at approximately $2,481,364.88. This represents a 2.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders sold 9,099 shares of company stock valued at $90,460. Insiders own 7.81% of the company's stock.

Hedge Funds Weigh In On Ouster

Several hedge funds and other institutional investors have recently modified their holdings of the company. Ieq Capital LLC purchased a new position in shares of Ouster during the first quarter valued at about $236,000. Penn Capital Management Company LLC increased its position in shares of Ouster by 5.6% during the first quarter. Penn Capital Management Company LLC now owns 1,155,414 shares of the company's stock valued at $10,387,000 after buying an additional 60,886 shares during the period. AlphaQuest LLC increased its position in shares of Ouster by 27.8% during the first quarter. AlphaQuest LLC now owns 10,566 shares of the company's stock valued at $95,000 after buying an additional 2,296 shares during the period. Algert Global LLC purchased a new position in shares of Ouster during the first quarter valued at about $299,000. Finally, American Century Companies Inc. increased its position in shares of Ouster by 40.2% during the first quarter. American Century Companies Inc. now owns 51,882 shares of the company's stock valued at $466,000 after buying an additional 14,875 shares during the period. 31.45% of the stock is owned by institutional investors.

Ouster Stock Down 2.9%

NYSE:OUST traded down $0.34 during midday trading on Friday, hitting $11.04. The company had a trading volume of 313,484 shares, compared to its average volume of 1,281,290. Ouster has a 52-week low of $5.84 and a 52-week high of $16.88. The stock's fifty day moving average price is $8.30 and its 200-day moving average price is $9.36. The company has a market capitalization of $593.31 million, a PE ratio of -4.29 and a beta of 2.25.

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.