Oppenheimer Initiates Coverage on Ouster (NYSE:OUST)

Oppenheimer initiated coverage on shares of Ouster (NYSE:OUST) in a report released on Thursday, Marketbeat.com reports. The firm set an “outperform” rating and a $16.00 price target on the stock. Oppenheimer’s price target points to a potential upside of 67.71% from the company’s previous close.

Several other equities research analysts have also commented on the company. Westpark Capital initiated coverage on Ouster in a research report on Monday, March 17th. They issued a “hold” rating on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $17.00 price target on shares of Ouster in a report on Friday, March 21st. Northland Capmk upgraded Ouster to a “strong-buy” rating in a research report on Thursday, December 12th. Cantor Fitzgerald lifted their price target on shares of Ouster from $10.00 to $11.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Finally, Northland Securities started coverage on shares of Ouster in a research report on Thursday, December 12th. They set an “outperform” rating and a $14.00 price objective for the company. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Ouster presently has an average rating of “Moderate Buy” and an average price target of $13.71.

Ouster Stock Performance

NYSE OUST opened at $9.54 on Thursday. The firm has a market capitalization of $474.82 million, a P/E ratio of -3.71 and a beta of 2.38. The stock has a 50-day simple moving average of $9.36 and a two-hundred day simple moving average of $9.07. Ouster has a fifty-two week low of $5.84 and a fifty-two week high of $16.88.

Insider Transactions at Ouster

In other news, General Counsel Megan Chung sold 5,800 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $11.24, for a total transaction of $65,192.00. Following the transaction, the general counsel now directly owns 220,762 shares in the company, valued at $2,481,364.88. The trade was a 2.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 9,099 shares of company stock valued at $90,460 over the last 90 days. 7.81% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ouster

A number of institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC increased its stake in shares of Ouster by 280.6% in the 3rd quarter. Barclays PLC now owns 57,330 shares of the company’s stock worth $361,000 after acquiring an additional 42,267 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Ouster by 6.8% in the third quarter. Geode Capital Management LLC now owns 975,407 shares of the company’s stock valued at $6,146,000 after purchasing an additional 62,202 shares during the period. Charles Schwab Investment Management Inc. increased its position in Ouster by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 367,388 shares of the company’s stock worth $4,489,000 after purchasing an additional 10,981 shares during the last quarter. Stifel Financial Corp raised its stake in Ouster by 286.7% during the third quarter. Stifel Financial Corp now owns 59,718 shares of the company’s stock worth $376,000 after purchasing an additional 44,275 shares during the period. Finally, State Street Corp boosted its holdings in Ouster by 2.4% in the 3rd quarter. State Street Corp now owns 1,649,540 shares of the company’s stock valued at $10,392,000 after purchasing an additional 37,926 shares during the last quarter. Hedge funds and other institutional investors own 31.45% of the company’s stock.

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.