Ouster (NYSE:OUST) Given Buy Rating at Rosenblatt Securities

Ouster (NYSE:OUST)‘s stock had its “buy” rating reissued by Rosenblatt Securities in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $40.00 price target on the stock. Rosenblatt Securities’ price objective suggests a potential upside of 97.53% from the company’s previous close.

Several other brokerages have also recently weighed in on OUST. Northland Securities set a $38.00 price target on shares of Ouster in a research note on Wednesday, November 5th. Cantor Fitzgerald set a $33.00 target price on shares of Ouster in a report on Thursday, November 6th. Oppenheimer reiterated an “outperform” rating and set a $40.00 target price on shares of Ouster in a research report on Tuesday. Finally, Westpark Capital reaffirmed a “buy” rating and set a $50.00 target price on shares of Ouster in a research note on Wednesday, November 5th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.17.

Ouster Price Performance

OUST stock opened at $20.25 on Tuesday. The company has a market cap of $1.22 billion, a P/E ratio of -7.88 and a beta of 2.91. The stock’s fifty day moving average price is $22.28 and its 200-day moving average price is $25.95. Ouster has a 1 year low of $6.34 and a 1 year high of $41.65.

Insider Activity at Ouster

In related news, General Counsel Megan Chung sold 5,837 shares of Ouster stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $27.24, for a total value of $158,999.88. Following the completion of the sale, the general counsel directly owned 183,141 shares in the company, valued at $4,988,760.84. This trade represents a 3.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ted L. Tewksbury III sold 1,695 shares of the company’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $21.47, for a total value of $36,391.65. Following the completion of the sale, the director owned 123,664 shares in the company, valued at approximately $2,655,066.08. This represents a 1.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 6.63% of the company’s stock.

Hedge Funds Weigh In On Ouster

Institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC lifted its stake in shares of Ouster by 2,532.6% in the 2nd quarter. NewEdge Advisors LLC now owns 1,132 shares of the company’s stock valued at $27,000 after purchasing an additional 1,089 shares during the period. Nisa Investment Advisors LLC lifted its position in Ouster by 153.3% during the second quarter. Nisa Investment Advisors LLC now owns 1,211 shares of the company’s stock worth $29,000 after buying an additional 733 shares in the last quarter. TD Waterhouse Canada Inc. boosted its position in shares of Ouster by 8,823.5% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,517 shares of the company’s stock valued at $37,000 after acquiring an additional 1,500 shares during the last quarter. Larson Financial Group LLC increased its holdings in shares of Ouster by 118.8% during the 4th quarter. Larson Financial Group LLC now owns 1,965 shares of the company’s stock worth $43,000 after buying an additional 1,067 shares during the last quarter. Finally, North Capital Inc. grew its position in Ouster by 102.7% in the second quarter. North Capital Inc. now owns 3,000 shares of the company’s stock worth $73,000 after acquiring an additional 1,520 shares during the period. Hedge funds and other institutional investors own 31.45% of the company’s stock.

About Ouster

Ouster, Inc is a leading provider of high-resolution digital lidar sensors, software and services designed to enable advanced perception capabilities across a range of industries. Headquartered in San Francisco, California, the company develops modular lidar solutions that capture precise three-dimensional data in real time, supporting applications from autonomous vehicles and robotics to mapping, smart infrastructure and industrial automation.

The company’s core product lineup features multi-beam digital lidar units available in various form factors, including compact models for robotics and drones and larger units for automotive and mapping systems.