Ouster (NYSE:OUST) Cut to "Hold" at Westpark Capital

Westpark Capital downgraded shares of Ouster (NYSE:OUST - Free Report) from a strong-buy rating to a hold rating in a research report released on Thursday, Marketbeat reports.

OUST has been the topic of a number of other research reports. UBS Group set a $16.00 price objective on shares of Ouster in a report on Thursday, March 27th. Oppenheimer began coverage on shares of Ouster in a report on Thursday, March 27th. They issued an "outperform" rating and a $16.00 price objective on the stock. Rosenblatt Securities reissued a "buy" rating and issued a $17.00 price objective on shares of Ouster in a report on Friday, March 21st. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $19.00 price objective on shares of Ouster in a report on Thursday. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $15.24.

Ouster Price Performance

Shares of OUST traded down $1.41 on Thursday, reaching $18.07. The company's stock had a trading volume of 3,884,700 shares, compared to its average volume of 1,469,827. The stock has a market capitalization of $971.55 million, a P/E ratio of -7.03 and a beta of 2.48. The stock's 50 day simple moving average is $10.25 and its two-hundred day simple moving average is $10.09. Ouster has a 12-month low of $5.84 and a 12-month high of $20.90.

Insiders Place Their Bets

In other news, General Counsel Megan Chung sold 5,800 shares of Ouster stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $11.24, for a total transaction of $65,192.00. Following the sale, the general counsel now 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 filing with the SEC, which is available at the SEC website. 6.63% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ouster

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Ouster by 5.3% during the first quarter. Vanguard Group Inc. now owns 3,825,565 shares of the company's stock valued at $34,354,000 after buying an additional 190,885 shares during the last quarter. Penn Capital Management Company LLC raised 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 last quarter. Geode Capital Management LLC raised its position in shares of Ouster by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 1,022,274 shares of the company's stock valued at $12,495,000 after buying an additional 46,867 shares during the last quarter. New York State Common Retirement Fund raised its position in shares of Ouster by 25.8% during the fourth quarter. New York State Common Retirement Fund now owns 759,491 shares of the company's stock valued at $9,281,000 after buying an additional 155,640 shares during the last quarter. Finally, Trexquant Investment LP raised its position in shares of Ouster by 113.9% during the fourth quarter. Trexquant Investment LP now owns 602,448 shares of the company's stock valued at $7,362,000 after buying an additional 320,742 shares during the last quarter. 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.