Westpark Capital Reaffirms “Buy” Rating for Ouster (NYSE:OUST)

Ouster (NYSE:OUST)‘s stock had its “buy” rating reissued by equities research analysts at Westpark Capital in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $50.00 price target on the stock. Westpark Capital’s target price would indicate a potential upside of 88.14% from the company’s current price.

OUST has been the topic of several other research reports. Zacks Research cut Ouster from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. Oppenheimer reiterated an “outperform” rating and set a $39.00 price objective on shares of Ouster in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Ouster presently has an average rating of “Moderate Buy” and an average price target of $25.83.

Ouster Stock Down 4.0%

OUST stock traded down $1.10 during midday trading on Wednesday, reaching $26.58. The stock had a trading volume of 2,759,728 shares, compared to its average volume of 2,335,410. The business has a fifty day simple moving average of $30.74 and a two-hundred day simple moving average of $23.38. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of -10.27 and a beta of 2.72. Ouster has a twelve month low of $6.34 and a twelve month high of $41.65.

Insider Transactions at Ouster

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

Hedge Funds Weigh In On Ouster

A number of hedge funds have recently made changes to their positions in the stock. Corient Private Wealth LLC raised its position in shares of Ouster by 5.5% during the second quarter. Corient Private Wealth LLC now owns 11,554 shares of the company’s stock worth $280,000 after acquiring an additional 599 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of 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 acquiring an additional 733 shares during the last quarter. Penserra Capital Management LLC raised its position in shares of Ouster by 0.8% during the third quarter. Penserra Capital Management LLC now owns 99,681 shares of the company’s stock worth $2,696,000 after acquiring an additional 827 shares during the last quarter. Ameritas Investment Partners Inc. increased its holdings in Ouster by 22.4% in the second quarter. Ameritas Investment Partners Inc. now owns 5,189 shares of the company’s stock worth $126,000 after purchasing an additional 950 shares in the last quarter. Finally, NewEdge Advisors LLC increased its holdings in Ouster by 2,532.6% in the second quarter. NewEdge Advisors LLC now owns 1,132 shares of the company’s stock worth $27,000 after purchasing an additional 1,089 shares in the last quarter. 31.45% of the stock is currently owned by institutional investors.

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.