Ouster (NYSE:OUST) Upgraded to Overweight at Cantor Fitzgerald

Ouster (NYSE:OUST) was upgraded by equities researchers at Cantor Fitzgerald from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Thursday, Marketbeat reports. The firm currently has a $33.00 price target on the stock. Cantor Fitzgerald’s target price points to a potential upside of 33.01% from the company’s previous close.

OUST has been the subject of several other reports. Westpark Capital restated a “buy” rating and issued a $50.00 price objective on shares of Ouster in a research note on Wednesday, November 5th. Oppenheimer reissued an “outperform” rating and set a $39.00 price target on shares of Ouster in a report on Wednesday, November 5th. Northland Securities set a $38.00 price target on Ouster in a research report on Wednesday, November 5th. Finally, Zacks Research cut Ouster from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $32.17.

Ouster Trading Down 3.4%

OUST stock traded down $0.86 during midday trading on Thursday, reaching $24.81. 2,111,800 shares of the company’s stock traded hands, compared to its average volume of 2,366,829. Ouster has a 52-week low of $6.34 and a 52-week high of $41.65. The stock has a market cap of $1.43 billion, a P/E ratio of -9.65 and a beta of 2.74. The stock’s 50-day moving average is $30.41 and its 200 day moving average is $23.89.

Insider Activity at Ouster

In other Ouster news, COO Darien Spencer sold 18,274 shares of Ouster stock in a transaction on Friday, September 12th. The shares were sold at an average price of $28.46, for a total value of $520,078.04. Following the sale, the chief operating officer directly owned 346,132 shares in the company, valued at approximately $9,850,916.72. The trade was a 5.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Charles Angus Pacala sold 37,992 shares of the firm’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $28.46, for a total value of $1,081,252.32. Following the transaction, the chief executive officer owned 1,009,927 shares of the company’s stock, valued at approximately $28,742,522.42. The trade was a 3.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 104,615 shares of company stock valued at $2,992,286. Insiders own 6.63% of the company’s stock.

Institutional Investors Weigh In On Ouster

A number of hedge funds have recently bought and sold shares of the business. NewEdge Advisors LLC grew 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 worth $27,000 after buying an additional 1,089 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Ouster by 153.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,211 shares of the company’s stock valued at $29,000 after acquiring an additional 733 shares during the last quarter. TD Waterhouse Canada Inc. grew its position in Ouster by 8,823.5% in the second quarter. TD Waterhouse Canada Inc. now owns 1,517 shares of the company’s stock worth $37,000 after acquiring an additional 1,500 shares in the last quarter. Game Plan Financial Advisors LLC increased its stake in Ouster by 400.0% during the second quarter. Game Plan Financial Advisors LLC now owns 3,000 shares of the company’s stock worth $73,000 after acquiring an additional 2,400 shares during the last quarter. Finally, North Capital Inc. increased its stake in Ouster by 102.7% during 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 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.