Brokerages Set Ouster, Inc. (NYSE:OUST) Price Target at $13.17

Shares of Ouster, Inc. (NYSE:OUST) have received an average recommendation of “Buy” from the seven brokerages that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $13.17.

Several analysts have issued reports on OUST shares. Northland Capmk raised shares of Ouster to a “strong-buy” rating in a research note on Thursday, December 12th. Northland Securities started coverage on Ouster in a research report on Thursday, December 12th. They set an “outperform” rating and a $14.00 price target on the stock. Rosenblatt Securities restated a “buy” rating and set a $17.00 price objective on shares of Ouster in a research report on Friday, November 8th. Finally, Cantor Fitzgerald upgraded 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 report on Monday, November 11th.

Insider Activity at Ouster

In other Ouster news, CEO Charles Angus Pacala bought 50,954 shares of Ouster stock in a transaction on Thursday, December 12th. The stock was purchased at an average cost of $9.79 per share, for a total transaction of $498,839.66. Following the completion of the purchase, the chief executive officer now directly owns 769,957 shares of the company’s stock, valued at $7,537,879.03. The trade was a 7.09 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Mark Frichtl bought 5,045 shares of Ouster stock in a transaction on Thursday, December 12th. The stock was acquired at an average price of $9.78 per share, with a total value of $49,340.10. Following the completion of the purchase, the chief technology officer now directly owns 513,121 shares of the company’s stock, valued at approximately $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 three months, insiders have sold 80,415 shares of company stock valued at $748,620. Corporate insiders own 7.81% of the company’s stock.

Institutional Trading of Ouster

Institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP lifted its stake in shares of Ouster by 184.9% in the second quarter. Marshall Wace LLP now owns 653,530 shares of the company’s stock worth $6,424,000 after buying an additional 424,178 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Ouster in the second quarter worth $1,305,000. Renaissance Technologies LLC acquired a new stake in shares of Ouster in the second quarter worth $1,217,000. GSA Capital Partners LLP acquired a new stake in shares of Ouster in the third quarter worth $706,000. Finally, Geode Capital Management LLC lifted its stake in shares of Ouster by 6.8% in the third quarter. Geode Capital Management LLC now owns 975,407 shares of the company’s stock worth $6,146,000 after buying an additional 62,202 shares during the last quarter. 31.45% of the stock is currently owned by institutional investors and hedge funds.

Ouster Price Performance

OUST stock opened at $12.60 on Monday. The firm has a market capitalization of $627.11 million, a P/E ratio of -4.90 and a beta of 2.39. Ouster has a 52-week low of $4.65 and a 52-week high of $16.88. The company’s 50 day simple moving average is $10.20 and its 200-day simple moving average is $9.37.

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.