Ouster (NYSE:OUST) Upgraded at Northland Capmk

Northland Capmk upgraded shares of Ouster (NYSE:OUST) to a strong-buy rating in a report issued on Thursday,Zacks.com reports.

OUST has been the subject of a number of other research reports. Cantor Fitzgerald raised shares of Ouster from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $12.00 to $10.00 in a report on Monday, November 11th. Northland Securities initiated coverage on Ouster in a research note on Thursday. They issued an “outperform” rating and a $14.00 price target for the company. Craig Hallum lowered their price target on Ouster from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, August 14th. Finally, 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. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Ouster has a consensus rating of “Buy” and an average target price of $13.17.

Ouster Price Performance

NYSE:OUST opened at $9.08 on Thursday. The company has a 50 day moving average price of $8.37 and a 200-day moving average price of $9.21. Ouster has a 1-year low of $4.65 and a 1-year high of $16.88. The firm has a market cap of $451.92 million, a price-to-earnings ratio of -3.53 and a beta of 2.50.

Insider Buying and Selling

In related news, CFO Mark Weinswig sold 31,397 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $8.72, for a total transaction of $273,781.84. Following the completion of the sale, the chief financial officer now directly owns 198,650 shares in the company, valued at approximately $1,732,228. The trade was a 13.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 7.81% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its holdings in shares of Ouster by 783.0% during the second quarter. SG Americas Securities LLC now owns 99,063 shares of the company’s stock worth $974,000 after buying an additional 87,844 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Ouster during the 2nd quarter valued at about $1,305,000. Van ECK Associates Corp acquired a new stake in Ouster in the 2nd quarter valued at about $56,000. Fairhaven Wealth Management LLC purchased a new position in Ouster in the 2nd quarter worth approximately $131,000. Finally, Rhumbline Advisers acquired a new position in shares of Ouster during the 2nd quarter worth approximately $598,000. Hedge funds and other institutional investors own 31.45% of the company’s stock.

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.