Ouster (NYSE:OUST) Shares Up 8.5% Following Analyst Upgrade

Ouster, Inc. (NYSE:OUST)’s stock price was up 8.5% 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. Approximately 1,219,856 shares changed hands during trading, a decline of 10% from the average daily volume of 1,359,401 shares. The stock had previously closed at $11.05.

Other equities analysts have also recently issued reports about the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $17.00 price objective on shares of Ouster in a report on Friday. Northland Securities started coverage on Ouster in a research note on Thursday, December 12th. They set an “outperform” rating and a $14.00 price target for the company. Northland Capmk raised shares of Ouster to a “strong-buy” rating in a research note on Thursday, December 12th. Finally, Westpark Capital assumed coverage on shares of Ouster in a research report on Monday, March 17th. They set a “hold” rating for the company. Two investment 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 stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $13.33.

Institutional Trading of Ouster

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Intech Investment Management LLC acquired a new stake in shares of Ouster in the third quarter valued at about $81,000. Daiwa Securities Group Inc. boosted 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 acquiring an additional 1,063 shares during the period. AlphaQuest LLC grew its position in Ouster by 916.0% in the fourth quarter. AlphaQuest LLC now owns 8,270 shares of the company’s stock valued at $101,000 after acquiring an additional 7,456 shares in the last quarter. ExodusPoint Capital Management LP purchased a new stake in shares of Ouster during the fourth quarter valued at approximately $154,000. Finally, SVB Wealth LLC purchased a new stake in shares of Ouster during the fourth quarter valued at approximately $163,000. Institutional investors and hedge funds own 31.45% of the company’s stock.

Ouster Price Performance

The firm has a market capitalization of $559.43 million, a price-to-earnings ratio of -4.37 and a beta of 2.38. The business’s 50-day moving average price is $9.41 and its 200 day moving average price is $8.99.

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.