Ouster (NYSE:OUST) Stock Rating Upgraded by Westpark Capital

Key Points

• Ouster's stock was upgraded from a "hold" rating to a "buy" rating by Westpark Capital, indicating a more favorable outlook for investors.
• The average price target for Ouster shares is currently $20.43, with one analyst rating it as a strong buy and five others giving it a buy rating.
• Institutional ownership of Ouster stands at 31.45%, with significant increases in positions from investors like AQR Capital Management and Vanguard Group.

Ouster (NYSE:OUST - Get Free Report) was upgraded by Westpark Capital from a "hold" rating to a "buy" rating in a report issued on Wednesday, Marketbeat.com reports.

Separately, Cantor Fitzgerald reiterated a "neutral" rating and set a $19.00 price target on shares of Ouster in a report on Thursday, June 12th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $15.24.

Ouster Trading Up 5.9%

Ouster stock traded up $1.94 during trading on Wednesday, hitting $35.05. 4,479,421 shares of the company were exchanged, compared to its average volume of 2,175,831. The business's 50 day moving average is $23.52 and its 200 day moving average is $14.08. Ouster has a 52 week low of $5.84 and a 52 week high of $35.63. The company has a market capitalization of $1.88 billion, a P/E ratio of -13.64 and a beta of 2.74.

Institutional Investors Weigh In On Ouster

Several institutional investors have recently bought and sold shares of OUST. Invesco Ltd. grew its stake in Ouster by 1,521.8% in the 2nd quarter. Invesco Ltd. now owns 571,662 shares of the company's stock valued at $13,863,000 after purchasing an additional 536,413 shares during the period. AQR Capital Management LLC grew its stake in Ouster by 610.1% in the 1st quarter. AQR Capital Management LLC now owns 296,311 shares of the company's stock valued at $2,661,000 after purchasing an additional 254,580 shares during the period. Penn Capital Management Company LLC lifted its position in shares of Ouster by 27.4% during the 4th quarter. Penn Capital Management Company LLC now owns 1,094,528 shares of the company's stock valued at $13,375,000 after buying an additional 235,563 shares during the last quarter. Manatuck Hill Partners LLC purchased a new position in shares of Ouster during the 4th quarter valued at $2,566,000. Finally, Herald Investment Management Ltd purchased a new position in shares of Ouster during the 1st quarter valued at $1,794,000. Institutional investors own 31.45% of the company's stock.

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.