Ouster, Inc. (NYSE:OUST) Receives $13.17 Average Target Price from Analysts

Ouster, Inc. (NYSE:OUST) has received a consensus recommendation of “Buy” from the seven ratings firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $13.17.

Several analysts have issued reports on the company. Cantor Fitzgerald raised Ouster from a “neutral” rating to an “overweight” rating and dropped their target price for the company from $12.00 to $10.00 in a research report on Monday, November 11th. Northland Securities initiated coverage on Ouster in a research report on Thursday, December 12th. They set an “outperform” rating and a $14.00 price objective on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $17.00 target price on shares of Ouster in a report on Friday, November 8th. Finally, Northland Capmk upgraded shares of Ouster to a “strong-buy” rating in a report on Thursday, December 12th.

Insider Activity

In other Ouster news, CEO Charles Angus Pacala purchased 50,954 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was bought at an average cost of $9.79 per share, with a total value of $498,839.66. Following the acquisition, the chief executive officer now directly owns 769,957 shares of the company’s stock, valued at approximately $7,537,879.03. This represents a 7.09 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Mark Frichtl bought 5,045 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were acquired at an average price of $9.78 per share, with a total value of $49,340.10. Following the purchase, the chief technology officer now owns 513,121 shares of the company’s stock, valued at $5,018,323.38. The trade was a 0.99 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 80,415 shares of company stock valued at $748,620. 7.81% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in OUST. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Ouster during the 2nd quarter worth approximately $27,000. Van ECK Associates Corp acquired a new stake in Ouster in the second quarter valued at $56,000. Ballentine Partners LLC purchased a new stake in shares of Ouster during the 2nd quarter worth $101,000. Stoneridge Investment Partners LLC acquired a new position in shares of Ouster during the 3rd quarter worth $67,000. Finally, True North Advisors LLC purchased a new position in shares of Ouster in the 3rd quarter valued at about $78,000. Hedge funds and other institutional investors own 31.45% of the company’s stock.

Ouster Stock Down 10.2 %

Shares of NYSE:OUST opened at $11.32 on Monday. The business’s 50 day moving average is $10.40 and its 200 day moving average is $9.41. The stock has a market cap of $563.41 million, a P/E ratio of -4.40 and a beta of 2.39. Ouster has a 52-week low of $4.65 and a 52-week high of $16.88.

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.