Ouster (NYSE:OUST) Rating Increased to Overweight at Cantor Fitzgerald

Ouster (NYSE:OUST) was upgraded by research analysts at Cantor Fitzgerald from a “neutral” rating to an “overweight” rating in a research report issued on Thursday,Benzinga reports.

Several other brokerages also recently weighed in on OUST. Westpark Capital restated a “buy” rating and set a $50.00 price objective on shares of Ouster in a research report on Wednesday. Northland Securities set a $38.00 price objective on Ouster in a research report on Wednesday. Zacks Research downgraded Ouster from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. Finally, Oppenheimer restated an “outperform” rating and set a $39.00 price objective on shares of Ouster in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $29.83.

Ouster Stock Down 6.7%

Shares of NYSE:OUST traded down $1.74 during trading on Thursday, reaching $24.13. 4,101,027 shares of the company traded hands, compared to its average volume of 2,361,107. The company’s 50 day moving average is $30.66 and its two-hundred day moving average is $23.40. The firm has a market capitalization of $1.40 billion, a PE ratio of -9.39 and a beta of 2.74. Ouster has a 52 week low of $6.34 and a 52 week high of $41.65.

Insiders Place Their Bets

In related news, CTO Mark Frichtl sold 25,329 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $28.46, for a total transaction of $720,863.34. Following the completion of the sale, the chief technology officer owned 665,403 shares of the company’s stock, valued at $18,937,369.38. This trade represents a 3.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Megan Chung sold 5,837 shares of the firm’s stock in a transaction that occurred on Friday, October 17th. The stock was sold at an average price of $31.02, for a total value of $181,063.74. Following the sale, the general counsel directly owned 197,199 shares of the company’s stock, valued at $6,117,112.98. This represents a 2.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 104,615 shares of company stock worth $2,992,286. Company insiders own 6.63% of the company’s stock.

Institutional Investors Weigh In On Ouster

Several hedge funds and other institutional investors have recently modified their holdings of the company. Corient Private Wealth LLC increased its holdings in shares of Ouster by 5.5% during the second quarter. Corient Private Wealth LLC now owns 11,554 shares of the company’s stock valued at $280,000 after acquiring an additional 599 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Ouster by 153.3% during the second quarter. Nisa Investment Advisors LLC now owns 1,211 shares of the company’s stock valued at $29,000 after acquiring an additional 733 shares in the last quarter. Penserra Capital Management LLC increased its holdings in shares of Ouster by 0.8% during the third quarter. Penserra Capital Management LLC now owns 99,681 shares of the company’s stock valued at $2,696,000 after acquiring an additional 827 shares in the last quarter. Ameritas Investment Partners Inc. increased its holdings in shares of Ouster by 22.4% during the second quarter. Ameritas Investment Partners Inc. now owns 5,189 shares of the company’s stock valued at $126,000 after acquiring an additional 950 shares in the last quarter. Finally, NewEdge Advisors LLC increased its holdings in shares of Ouster by 2,532.6% during the second quarter. NewEdge Advisors LLC now owns 1,132 shares of the company’s stock valued at $27,000 after acquiring an additional 1,089 shares in the last quarter. Institutional investors own 31.45% of the company’s stock.

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.