Ouster (NYSE:OUST) Upgraded to “Overweight” at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Ouster (NYSE:OUST) from a neutral rating to an overweight rating in a research note published on Monday morning, Marketbeat Ratings reports. The firm currently has $10.00 target price on the stock, down from their prior target price of $12.00. Cantor Fitzgerald also issued estimates for Ouster’s FY2024 earnings at ($2.20) EPS.

Several other brokerages have also recently weighed in on OUST. Craig Hallum dropped their price objective on Ouster from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, August 14th. Rosenblatt Securities restated a “buy” rating and issued a $17.00 price objective on shares of Ouster in a research note on Friday, November 8th. Finally, Westpark Capital reaffirmed a “buy” rating and issued a $17.00 price target on shares of Ouster in a report on Monday, August 12th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Ouster presently has an average rating of “Moderate Buy” and a consensus price target of $13.00.

Ouster Price Performance

Shares of NYSE OUST opened at $8.70 on Monday. The firm has a market cap of $420.47 million, a PE ratio of -3.39 and a beta of 2.34. The company has a 50 day simple moving average of $6.99 and a 200 day simple moving average of $9.48. Ouster has a 1 year low of $4.65 and a 1 year high of $16.88.

Ouster (NYSE:OUST) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.53) EPS for the quarter. Ouster had a negative return on equity of 65.17% and a negative net margin of 106.50%. The company had revenue of $26.99 million for the quarter. As a group, research analysts anticipate that Ouster will post -2.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Ouster during the 2nd quarter worth approximately $27,000. Van ECK Associates Corp lifted its stake in Ouster by 28.4% during the third quarter. Van ECK Associates Corp now owns 7,264 shares of the company’s stock worth $46,000 after purchasing an additional 1,608 shares in the last quarter. Stoneridge Investment Partners LLC acquired a new position in Ouster during the third quarter worth $67,000. True North Advisors LLC acquired a new position in Ouster during the third quarter worth $78,000. Finally, Lake Street Advisors Group LLC acquired a new position in Ouster during the first quarter worth $79,000. 31.45% of the stock is currently owned by hedge funds and other 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.