Ouster (NYSE:OUST) Trading 8.5% Higher on Analyst Upgrade

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

Several other brokerages also recently issued reports on OUST. Northland Capmk raised shares of Ouster to a “strong-buy” rating in a report on Thursday, December 12th. Northland Securities assumed coverage on Ouster in a research note on Thursday, December 12th. They issued an “outperform” rating and a $14.00 target price for the company. Rosenblatt Securities reiterated a “buy” rating and set a $17.00 price target on shares of Ouster in a research report on Friday. Finally, Westpark Capital began coverage on shares of Ouster in a report on Monday, March 17th. They set a “hold” rating on the stock. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $13.33.

Hedge Funds Weigh In On Ouster

Several large investors have recently made changes to their positions in OUST. Barclays PLC raised its holdings in Ouster by 280.6% during the 3rd quarter. Barclays PLC now owns 57,330 shares of the company’s stock worth $361,000 after purchasing an additional 42,267 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Ouster by 6.8% during the third quarter. Geode Capital Management LLC now owns 975,407 shares of the company’s stock worth $6,146,000 after acquiring an additional 62,202 shares in the last quarter. Stifel Financial Corp raised its stake in shares of Ouster by 286.7% in the 3rd quarter. Stifel Financial Corp now owns 59,718 shares of the company’s stock valued at $376,000 after purchasing an additional 44,275 shares during the period. State Street Corp grew its holdings in shares of Ouster by 2.4% during the third quarter. State Street Corp now owns 1,649,540 shares of the company’s stock worth $10,392,000 after buying an additional 37,926 shares in the last quarter. Finally, Rhumbline Advisers raised its position in Ouster by 6.6% in the 4th quarter. Rhumbline Advisers now owns 79,191 shares of the company’s stock valued at $968,000 after buying an additional 4,900 shares during the last quarter. Institutional investors and hedge funds own 31.45% of the company’s stock.

Ouster Stock Performance

The stock has a 50-day moving average of $9.40 and a 200-day moving average of $8.96. The firm has a market cap of $590.78 million, a price-to-earnings ratio of -4.62 and a beta of 2.38.

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.