Ouster, Inc. (NYSE:OUST) Given Average Recommendation of “Buy” by Brokerages

Ouster, Inc. (NYSE:OUST) has been assigned an average rating of “Buy” from the seven brokerages that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $13.17.

A number of equities analysts have recently commented on OUST shares. Northland Securities assumed coverage on shares of Ouster in a research report on Thursday, December 12th. They issued an “outperform” rating and a $14.00 price target on the stock. Northland Capmk upgraded shares of Ouster to a “strong-buy” rating in a report on Thursday, December 12th. Cantor Fitzgerald upgraded shares of Ouster from a “neutral” rating to an “overweight” rating and decreased their price target for the company from $12.00 to $10.00 in a report on Monday, November 11th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $17.00 price objective on shares of Ouster in a research note on Friday, November 8th.

Ouster Stock Performance

Shares of OUST stock opened at $14.64 on Monday. The stock’s 50 day simple moving average is $9.78 and its 200 day simple moving average is $9.28. Ouster has a twelve month low of $4.65 and a twelve month high of $16.88. The company has a market capitalization of $728.65 million, a price-to-earnings ratio of -5.70 and a beta of 2.39.

Insider Buying and Selling

In other news, General Counsel Megan Chung sold 13,671 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $9.69, for a total transaction of $132,471.99. Following the completion of the transaction, the general counsel now directly owns 149,647 shares of the company’s stock, valued at approximately $1,450,079.43. This trade represents a 8.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Darien Spencer sold 14,869 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $9.69, for a total transaction of $144,080.61. Following the completion of the sale, the chief operating officer now directly owns 291,718 shares in the company, valued at approximately $2,826,747.42. The trade was a 4.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 80,415 shares of company stock valued at $748,620 over the last three months. 7.81% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Street Corp raised its holdings in shares of Ouster by 2.4% in the 3rd 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. Geode Capital Management LLC raised its stake 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. Marshall Wace LLP raised its stake in Ouster by 184.9% during the second quarter. Marshall Wace LLP now owns 653,530 shares of the company’s stock worth $6,424,000 after acquiring an additional 424,178 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Ouster by 10.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 356,407 shares of the company’s stock valued at $2,245,000 after acquiring an additional 34,743 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Ouster in the 2nd quarter valued at $1,305,000. 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.