Ouster (NYSE:OUST) Sees Large Volume Increase on Analyst Upgrade

Ouster, Inc. (NYSE:OUST) saw unusually-high trading volume on Friday 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. Approximately 3,761,063 shares were traded during mid-day trading, an increase of 182% from the previous session’s volume of 1,335,890 shares.The stock last traded at $10.43 and had previously closed at $8.38.

A number of other brokerages have also recently commented on OUST. Westpark Capital started coverage on Ouster in a research report on Monday, March 17th. They set a “hold” rating on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $17.00 price objective on shares of Ouster in a report on Friday. Northland Securities initiated coverage on shares of Ouster in a research note on Thursday, December 12th. They issued an “outperform” rating and a $14.00 target price for the company. Finally, Northland Capmk upgraded shares of Ouster to a “strong-buy” rating in a research note on Thursday, December 12th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $13.33.

Institutional Trading of Ouster

Several institutional investors and hedge funds have recently bought and sold shares of the company. Intech Investment Management LLC bought a new stake in Ouster during the third quarter worth about $81,000. Charles Schwab Investment Management Inc. grew its position in 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 last quarter. Centiva Capital LP purchased a new position in shares of Ouster during the third quarter worth approximately $167,000. Stifel Financial Corp lifted its holdings in shares of Ouster by 286.7% in the 3rd quarter. Stifel Financial Corp now owns 59,718 shares of the company’s stock worth $376,000 after acquiring an additional 44,275 shares during the last quarter. Finally, State Street Corp boosted its stake 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 valued at $10,392,000 after purchasing an additional 37,926 shares in the last quarter. 31.45% of the stock is currently owned by hedge funds and other institutional investors.

Ouster Trading Up 31.9 %

The company has a market cap of $549.97 million, a P/E ratio of -4.30 and a beta of 2.38. The company’s fifty day moving average is $9.40 and its 200 day moving average is $8.94.

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.