Ouster (NYSE:OUST) Sees Large Volume Increase on Analyst Upgrade

Shares of Ouster, Inc. (NYSE:OUST) saw unusually-strong trading volume on Friday 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. Approximately 3,761,063 shares traded hands during trading, an increase of 182% from the previous session’s volume of 1,335,890 shares.The stock last traded at $10.43 and had previously closed at $8.38.

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

Institutional Investors Weigh In On Ouster

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EVR Research LP acquired a new position in shares of Ouster during the 4th quarter worth about $5,343,000. Trexquant Investment LP boosted its holdings in Ouster by 113.9% in the 4th quarter. Trexquant Investment LP now owns 602,448 shares of the company’s stock valued at $7,362,000 after purchasing an additional 320,742 shares during the period. Penn Capital Management Company LLC boosted its holdings in Ouster by 27.4% in the 4th quarter. Penn Capital Management Company LLC now owns 1,094,528 shares of the company’s stock valued at $13,375,000 after purchasing an additional 235,563 shares during the period. Manatuck Hill Partners LLC bought a new stake in Ouster in the 4th quarter valued at about $2,566,000. Finally, Vanguard Group Inc. boosted its holdings in Ouster by 4.5% in the 4th quarter. Vanguard Group Inc. now owns 3,634,680 shares of the company’s stock valued at $44,416,000 after purchasing an additional 155,736 shares during the period. 31.45% of the stock is currently owned by institutional investors and hedge funds.

Ouster Stock Performance

The stock’s fifty day moving average price is $9.40 and its two-hundred day moving average price is $8.92. The company has a market cap of $549.97 million, a P/E ratio of -4.30 and a beta of 2.38.

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.