Ouster (NYSE:OUST) Trading Up 8.5% on Analyst Upgrade

Ouster, Inc. (NYSE:OUST)’s stock price traded up 8.5% during trading on Monday after Cantor Fitzgerald raised their price target on the stock from $10.00 to $11.00. Cantor Fitzgerald currently has an overweight rating on the stock. Ouster traded as high as $11.94 and last traded at $11.99. 1,219,856 shares traded hands during mid-day trading, a decline of 10% from the average session volume of 1,359,401 shares. The stock had previously closed at $11.05.

A number of other research firms also recently weighed in on OUST. Northland Securities began coverage on Ouster in a research report on Thursday, December 12th. They issued an “outperform” rating and a $14.00 target price for the company. Northland Capmk raised shares of Ouster to a “strong-buy” rating in a research note on Thursday, December 12th. Rosenblatt Securities reaffirmed a “buy” rating and set a $17.00 target price on shares of Ouster in a research note on Friday. Finally, Westpark Capital assumed coverage on shares of Ouster in a report on Monday, March 17th. They set a “hold” rating on the stock. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $13.33.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Daiwa Securities Group Inc. lifted its holdings in Ouster by 18.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 6,977 shares of the company’s stock worth $85,000 after purchasing an additional 1,063 shares during the last quarter. AlphaQuest LLC lifted its stake in shares of Ouster by 916.0% in the fourth quarter. AlphaQuest LLC now owns 8,270 shares of the company’s stock worth $101,000 after buying an additional 7,456 shares during the last quarter. ExodusPoint Capital Management LP bought a new stake in shares of Ouster during the 4th quarter worth $154,000. Intech Investment Management LLC bought a new stake in shares of Ouster during the 3rd quarter worth $81,000. Finally, SVB Wealth LLC acquired a new stake in shares of Ouster in the fourth quarter valued at about $163,000. Institutional investors and hedge funds own 31.45% of the company’s stock.

Ouster Trading Up 7.4 %

The stock has a fifty day simple moving average of $9.40 and a 200-day simple moving average of $8.96. The stock has a market cap of $590.78 million, a price-to-earnings ratio of -4.62 and a beta of 2.38.

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.