Ouster (NYSE:OUST) Trading Up 8.5% Following Analyst Upgrade

Ouster, Inc. (NYSE:OUST) was up 8.5% during trading on Monday after Cantor Fitzgerald raised their price target on the stock from $10.00 to $11.00. Cantor Fitzgerald currently has an overweight rating on the stock. Ouster traded as high as $11.94 and last traded at $11.99. Approximately 1,219,856 shares were traded during trading, a decline of 10% from the average daily volume of 1,359,401 shares. The stock had previously closed at $11.05.

A number of other analysts have also recently weighed in on the stock. Westpark Capital began coverage on shares of Ouster in a research note on Monday, March 17th. They set a “hold” rating on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $17.00 target price on shares of Ouster in a report on Friday, March 21st. Northland Securities started coverage on Ouster in a report on Thursday, December 12th. They set an “outperform” rating and a $14.00 price target on the stock. Finally, Northland Capmk upgraded shares of Ouster to a “strong-buy” rating in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $13.33.

Hedge Funds Weigh In On Ouster

Hedge funds and other institutional investors have recently made changes to their positions in the stock. EVR Research LP acquired a new stake in Ouster during the 4th quarter valued at approximately $5,343,000. Trexquant Investment LP increased its position in shares of Ouster by 113.9% during the fourth quarter. Trexquant Investment LP now owns 602,448 shares of the company’s stock worth $7,362,000 after buying an additional 320,742 shares during the period. Penn Capital Management Company LLC lifted its holdings in Ouster by 27.4% in the fourth quarter. Penn Capital Management Company LLC now owns 1,094,528 shares of the company’s stock valued at $13,375,000 after buying an additional 235,563 shares during the period. Manatuck Hill Partners LLC acquired a new position in Ouster in the fourth quarter valued at $2,566,000. Finally, Vanguard Group Inc. grew its holdings in Ouster by 4.5% during the 4th quarter. Vanguard Group Inc. now owns 3,634,680 shares of the company’s stock worth $44,416,000 after acquiring an additional 155,736 shares during the period. 31.45% of the stock is owned by institutional investors and hedge funds.

Ouster Trading Down 0.1 %

The stock has a market capitalization of $558.93 million, a P/E ratio of -4.37 and a beta of 2.38. The company has a 50-day moving average price of $9.42 and a two-hundred day moving average price of $9.03.

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.