Ouster, Inc. (NYSE:OUST) Receives $14.10 Average PT from Brokerages

Ouster, Inc. (NYSE:OUST) has been given an average recommendation of “Buy” by the seven brokerages that are presently covering the company, Marketbeat reports. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $14.10.

Several analysts have weighed in on the company. Cantor Fitzgerald boosted their price objective on Ouster from $10.00 to $11.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $17.00 price target on shares of Ouster 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 price objective on the stock in a report on Friday, May 9th. UBS Group set a $16.00 target price on shares of Ouster in a report on Thursday, March 27th. Finally, Oppenheimer began coverage on Ouster in a report on Thursday, March 27th. They set an “outperform” rating and a $16.00 price objective for the company.

Insiders Place Their Bets

In other Ouster news, General Counsel Megan Chung sold 5,800 shares of the company’s stock in a transaction dated Wednesday, March 26th. The stock was 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 owns 220,762 shares of the company’s stock, valued at $2,481,364.88. This represents a 2.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders sold 9,099 shares of company stock valued at $90,460. 7.81% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of OUST. Daiwa Securities Group Inc. increased its position in Ouster by 18.0% during the 4th quarter. Daiwa Securities Group Inc. now owns 6,977 shares of the company’s stock valued at $85,000 after purchasing an additional 1,063 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Ouster by 1.1% in the 4th quarter. Bank of New York Mellon Corp now owns 101,959 shares of the company’s stock worth $1,246,000 after purchasing an additional 1,074 shares during the period. Invesco Ltd. boosted its stake in shares of Ouster by 7.3% in the 4th quarter. Invesco Ltd. now owns 20,575 shares of the company’s stock valued at $251,000 after purchasing an additional 1,391 shares during the last quarter. Fox Run Management L.L.C. increased its position in shares of Ouster by 4.9% during the fourth quarter. Fox Run Management L.L.C. now owns 31,511 shares of the company’s stock worth $385,000 after buying an additional 1,463 shares during the period. Finally, Rhumbline Advisers raised its stake in Ouster by 2.9% during the first quarter. Rhumbline Advisers now owns 81,475 shares of the company’s stock worth $732,000 after buying an additional 2,284 shares during the last quarter. 31.45% of the stock is owned by institutional investors.

Ouster Price Performance

Shares of Ouster stock opened at $11.24 on Friday. The firm has a 50 day simple moving average of $8.37 and a 200 day simple moving average of $9.39. Ouster has a fifty-two week low of $5.84 and a fifty-two week high of $16.88. The firm has a market cap of $604.33 million, a P/E ratio of -4.37 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.