Ouster, Inc. (NYSE:OUST) Receives $14.10 Consensus Target Price from Analysts

Shares of Ouster, Inc. (NYSE:OUST) have been assigned an average recommendation of “Buy” from the seven research firms that are currently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $14.10.

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

Insiders Place Their Bets

In related news, General Counsel Megan Chung sold 5,800 shares of the firm’s 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 completion of the sale, the general counsel now directly owns 220,762 shares in the company, valued at approximately $2,481,364.88. This trade represents a 2.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 6.63% of the company’s stock.

Hedge Funds Weigh In On Ouster

Several institutional investors and hedge funds have recently modified their holdings of the stock. Rhumbline Advisers boosted its position in Ouster by 2.9% during the first quarter. Rhumbline Advisers now owns 81,475 shares of the company’s stock valued at $732,000 after purchasing an additional 2,284 shares during the last quarter. Intrua Financial LLC grew its stake in Ouster by 16.4% in the first quarter. Intrua Financial LLC now owns 13,962 shares of the company’s stock valued at $125,000 after purchasing an additional 1,970 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Ouster by 7.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,344 shares of the company’s stock valued at $255,000 after purchasing an additional 2,037 shares in the last quarter. AQR Capital Management LLC grew its stake in Ouster by 610.1% in the first 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 in the last quarter. Finally, Graham Capital Management L.P. grew its stake in Ouster by 57.1% in the first quarter. Graham Capital Management L.P. now owns 99,309 shares of the company’s stock valued at $892,000 after purchasing an additional 36,081 shares in the last quarter. 31.45% of the stock is currently owned by hedge funds and other institutional investors.

Ouster Price Performance

Shares of OUST opened at $20.36 on Thursday. The firm’s 50 day moving average is $9.78 and its 200-day moving average is $9.96. The stock has a market capitalization of $1.09 billion, a P/E ratio of -7.92 and a beta of 2.48. Ouster has a 12-month low of $5.84 and a 12-month high of $20.90.

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.