Ouster (NYSE:OUST) Stock Rating Upgraded by Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Ouster (NYSE:OUST) from a neutral rating to an overweight rating in a research report sent to investors on Monday, Marketbeat reports. The brokerage currently has $10.00 target price on the stock, down from their previous target price of $12.00. Cantor Fitzgerald also issued estimates for Ouster’s FY2024 earnings at ($2.20) EPS.

Other equities research analysts also recently issued research reports about the stock. Rosenblatt Securities restated a “buy” rating and issued a $17.00 price objective on shares of Ouster in a research report on Friday, November 8th. Westpark Capital reiterated a “buy” rating and set a $17.00 price target on shares of Ouster in a research report on Monday, August 12th. Finally, Craig Hallum cut their price objective on Ouster from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $13.00.

Ouster Stock Performance

Shares of OUST stock opened at $8.70 on Monday. The stock’s 50-day moving average is $6.99 and its two-hundred day moving average is $9.48. The firm has a market cap of $420.47 million, a price-to-earnings ratio of -3.39 and a beta of 2.34. Ouster has a 1 year low of $4.65 and a 1 year high of $16.88.

Ouster (NYSE:OUST) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.53) earnings per share (EPS) for the quarter. The company had revenue of $26.99 million for the quarter. Ouster had a negative return on equity of 65.17% and a negative net margin of 106.50%. As a group, research analysts predict that Ouster will post -2.4 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in OUST. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Ouster in the second quarter worth $27,000. Van ECK Associates Corp grew its stake in shares of Ouster by 28.4% in the third quarter. Van ECK Associates Corp now owns 7,264 shares of the company’s stock worth $46,000 after purchasing an additional 1,608 shares in the last quarter. Stoneridge Investment Partners LLC acquired a new stake in shares of Ouster in the third quarter valued at $67,000. True North Advisors LLC acquired a new stake in shares of Ouster in the third quarter valued at $78,000. Finally, Lake Street Advisors Group LLC acquired a new stake in shares of Ouster in the first quarter valued at $79,000. 31.45% of the stock is currently owned by institutional investors.

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.