Rosenblatt Securities Issues Positive Forecast for Ouster (NASDAQ:OUST) Stock Price

Ouster (NASDAQ:OUST) had its price target upped by equities researchers at Rosenblatt Securities from $40.00 to $53.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Rosenblatt Securities’ price target would suggest a potential upside of 24.12% from the stock’s current price.

A number of other brokerages have also issued reports on OUST. Cantor Fitzgerald lowered shares of Ouster from an “overweight” rating to a “neutral” rating in a research note on Thursday, May 7th. Oppenheimer reaffirmed an “outperform” rating and issued a $40.00 price objective on shares of Ouster in a research note on Tuesday, March 3rd. Finally, Weiss Ratings started coverage on shares of Ouster in a research note on Friday, May 15th. They issued a “sell (d-)” rating for the company. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $42.80.

Ouster Trading Up 15.3%

Shares of OUST opened at $42.70 on Wednesday. The firm has a market capitalization of $2.68 billion, a P/E ratio of -44.02 and a beta of 3.06. Ouster has a 12-month low of $10.36 and a 12-month high of $45.42. The firm has a fifty day moving average price of $25.30 and a 200-day moving average price of $23.50.

Insider Activity

In other Ouster news, Director Susan Heystee sold 9,316 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $34.80, for a total value of $324,196.80. Following the transaction, the director owned 35,094 shares in the company, valued at approximately $1,221,271.20. This trade represents a 20.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Stephen A. Skaggs sold 5,000 shares of Ouster stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $30.00, for a total value of $150,000.00. Following the transaction, the director owned 61,690 shares in the company, valued at approximately $1,850,700. This represents a 7.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 503,475 shares of company stock worth $14,196,335 over the last 90 days. Company insiders own 5.72% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC raised 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 acquiring an additional 1,089 shares during the period. Larson Financial Group LLC boosted its position 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 purchasing an additional 1,067 shares during the period. Gordian Capital Singapore Pte Ltd boosted its position in shares of Ouster by 38.1% during the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 2,900 shares of the company’s stock worth $78,000 after purchasing an additional 800 shares during the period. SHP Wealth Management acquired a new stake in Ouster in the 4th quarter valued at approximately $96,000. Finally, Van ECK Associates Corp raised its position in Ouster by 17.1% in the third quarter. Van ECK Associates Corp now owns 3,590 shares of the company’s stock valued at $97,000 after purchasing an additional 525 shares during the period. Hedge funds and other institutional investors own 31.45% of the company’s stock.

Ouster Company Profile

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.