Westpark Capital Upgrades Ouster (NYSE:OUST) to “Buy”

Ouster (NYSE:OUST) was upgraded by investment analysts at Westpark Capital from a “hold” rating to a “buy” rating in a report issued on Friday, Marketbeat.com reports. The firm presently has a $13.68 target price on the stock. Westpark Capital’s price objective indicates a potential upside of 28.81% from the company’s current price.

OUST has been the subject of a number of other reports. UBS Group set a $16.00 target price on shares of Ouster in a report on Thursday, March 27th. Rosenblatt Securities reissued a “buy” rating and set a $17.00 price objective on shares of Ouster in a research note on Friday, March 21st. Cantor Fitzgerald lifted their target price on Ouster from $10.00 to $11.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. Finally, Oppenheimer began coverage on Ouster in a report on Thursday, March 27th. They set an “outperform” rating and a $16.00 target price for the company. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $14.10.

Ouster Trading Up 22.8 %

Shares of NYSE OUST opened at $10.62 on Friday. Ouster has a twelve month low of $5.84 and a twelve month high of $16.88. The firm has a 50-day moving average of $8.10 and a two-hundred day moving average of $9.30. The company has a market capitalization of $570.99 million, a price-to-earnings ratio of -4.13 and a beta of 2.25.

Insider Activity

In related news, General Counsel Megan Chung sold 5,800 shares of the 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 sale, the general counsel now directly owns 220,762 shares of the company’s stock, valued at approximately $2,481,364.88. This represents a 2.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 9,099 shares of company stock worth $90,460 over the last quarter. Corporate insiders own 7.81% of the company’s stock.

Hedge Funds Weigh In On Ouster

Several institutional investors and hedge funds have recently bought and sold shares of OUST. Barclays PLC grew its position in Ouster by 280.6% during the third quarter. Barclays PLC now owns 57,330 shares of the company’s stock valued at $361,000 after purchasing an additional 42,267 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Ouster by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 367,388 shares of the company’s stock valued at $4,489,000 after acquiring an additional 10,981 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Ouster in the fourth quarter worth $1,118,000. Vanguard Group Inc. raised its holdings in shares of Ouster by 4.5% during the fourth quarter. Vanguard Group Inc. now owns 3,634,680 shares of the company’s stock worth $44,416,000 after acquiring an additional 155,736 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in Ouster by 6.6% during the fourth quarter. Rhumbline Advisers now owns 79,191 shares of the company’s stock valued at $968,000 after purchasing an additional 4,900 shares during the last quarter. Hedge funds and other 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.