Ouster (NYSE:OUST) Sees Large Volume Increase After Analyst Upgrade

Shares of Ouster, Inc. (NYSE:OUST) saw an uptick in trading volume on Friday 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. 3,761,063 shares were traded during trading, an increase of 182% from the previous session’s volume of 1,335,890 shares.The stock last traded at $10.43 and had previously closed at $8.38.

OUST has been the topic of a number of other reports. Northland Capmk upgraded Ouster to a “strong-buy” rating in a research report on Thursday, December 12th. Rosenblatt Securities reiterated a “buy” rating and issued a $17.00 price target on shares of Ouster in a report on Friday. Northland Securities started coverage on shares of Ouster in a research report on Thursday, December 12th. They set an “outperform” rating and a $14.00 price objective on the stock. Finally, Westpark Capital began coverage on shares of Ouster in a research note on Monday, March 17th. They set a “hold” rating on the stock. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $13.33.

Hedge Funds Weigh In On Ouster

Several institutional investors and hedge funds have recently added to or reduced their stakes in OUST. Intech Investment Management LLC purchased a new stake in shares of Ouster in the 3rd quarter worth about $81,000. Daiwa Securities Group Inc. boosted its stake in Ouster by 18.0% during the fourth quarter. Daiwa Securities Group Inc. now owns 6,977 shares of the company’s stock worth $85,000 after acquiring an additional 1,063 shares in the last quarter. AlphaQuest LLC boosted its stake in Ouster by 916.0% during the fourth quarter. AlphaQuest LLC now owns 8,270 shares of the company’s stock worth $101,000 after acquiring an additional 7,456 shares in the last quarter. ExodusPoint Capital Management LP purchased a new stake in Ouster in the fourth quarter worth about $154,000. Finally, SVB Wealth LLC bought a new position in shares of Ouster during the fourth quarter valued at approximately $163,000. Hedge funds and other institutional investors own 31.45% of the company’s stock.

Ouster Stock Up 31.9 %

The company’s fifty day moving average price is $9.40 and its 200-day moving average price is $8.94. The stock has a market capitalization of $549.97 million, a PE ratio of -4.30 and a beta of 2.38.

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.