Ouster, Inc. (NYSE:OUST) Given Consensus Recommendation of "Buy" by Analysts

Shares of Ouster, Inc. (NYSE:OUST - Get Free Report) have been given an average recommendation of "Buy" by the seven research firms that are covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $14.10.

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

Insiders Place Their Bets

In other news, General Counsel Megan Chung sold 5,800 shares of the stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $11.24, for a total value of $65,192.00. Following the completion of the transaction, the general counsel now directly owns 220,762 shares in the company, valued at $2,481,364.88. This trade represents a 2.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders have sold 9,099 shares of company stock worth $90,460. 7.81% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ouster

Institutional investors have recently added to or reduced their stakes in the company. Byrne Asset Management LLC acquired a new position in shares of Ouster during the 1st quarter valued at $39,000. FNY Investment Advisers LLC bought a new position in Ouster during the first quarter valued at about $49,000. Daiwa Securities Group Inc. grew its holdings in Ouster by 18.0% during the fourth quarter. Daiwa Securities Group Inc. now owns 6,977 shares of the company's stock worth $85,000 after acquiring an additional 1,063 shares during the period. AlphaQuest LLC raised its position in Ouster by 27.8% in the first quarter. AlphaQuest LLC now owns 10,566 shares of the company's stock worth $95,000 after acquiring an additional 2,296 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in Ouster in the 1st quarter valued at about $97,000. 31.45% of the stock is currently owned by institutional investors and hedge funds.

Ouster Stock Performance

Shares of Ouster stock traded up $0.83 on Thursday, reaching $14.59. 2,623,879 shares of the company were exchanged, compared to its average volume of 1,449,243. The firm has a market cap of $784.45 million, a price-to-earnings ratio of -5.68 and a beta of 2.47. Ouster has a 1-year low of $5.84 and a 1-year high of $16.88. The company's 50-day moving average is $9.11 and its two-hundred day moving average is $9.75.

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.