Ouster (NYSE:OUST) Stock Rating Upgraded by Cantor Fitzgerald

Ouster (NYSE:OUST) was upgraded by equities researchers at Cantor Fitzgerald from a “neutral” rating to an “overweight” rating in a research note issued on Thursday, MarketBeat Ratings reports. The firm presently has a $33.00 price target on the stock. Cantor Fitzgerald’s price target would indicate a potential upside of 28.35% from the company’s current price.

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

Ouster Stock Performance

Shares of NYSE:OUST traded up $1.58 during trading hours on Thursday, hitting $25.71. 3,374,877 shares of the company’s stock traded hands, compared to its average volume of 2,366,041. The company’s fifty day simple moving average is $30.52 and its two-hundred day simple moving average is $23.40. The company has a market cap of $1.49 billion, a price-to-earnings ratio of -10.00 and a beta of 2.74. Ouster has a 52 week low of $6.34 and a 52 week high of $41.65.

Insider Buying and Selling

In other Ouster news, CTO Mark Frichtl sold 25,329 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $28.46, for a total transaction of $720,863.34. Following the completion of the sale, the chief technology officer owned 665,403 shares of the company’s stock, valued at $18,937,369.38. This represents a 3.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Darien Spencer sold 18,274 shares of Ouster stock in a transaction on Friday, September 12th. The stock was sold at an average price of $28.46, for a total transaction of $520,078.04. Following the completion of the transaction, the chief operating officer owned 346,132 shares in the company, valued at $9,850,916.72. This trade represents a 5.01% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 104,615 shares of company stock worth $2,992,286. Insiders own 6.63% of the company’s stock.

Hedge Funds Weigh In On Ouster

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. NewEdge Advisors LLC increased its position in shares of Ouster by 2,532.6% during the second quarter. NewEdge Advisors LLC now owns 1,132 shares of the company’s stock valued at $27,000 after purchasing an additional 1,089 shares during the period. Nisa Investment Advisors LLC boosted its stake in Ouster by 153.3% during the second quarter. Nisa Investment Advisors LLC now owns 1,211 shares of the company’s stock worth $29,000 after buying an additional 733 shares in the last quarter. TD Waterhouse Canada Inc. increased its holdings in Ouster by 8,823.5% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,517 shares of the company’s stock valued at $37,000 after buying an additional 1,500 shares during the period. Game Plan Financial Advisors LLC increased its holdings in Ouster by 400.0% in the 2nd quarter. Game Plan Financial Advisors LLC now owns 3,000 shares of the company’s stock valued at $73,000 after buying an additional 2,400 shares during the period. Finally, North Capital Inc. raised its stake in shares of Ouster by 102.7% in the 2nd quarter. North Capital Inc. now owns 3,000 shares of the company’s stock valued at $73,000 after buying an additional 1,520 shares in the last quarter. 31.45% of the stock is currently owned by institutional investors.

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.