Ouster (NYSE:OUST) Cut to Hold at Westpark Capital

Westpark Capital cut shares of Ouster (NYSE:OUST) from a strong-buy rating to a hold rating in a research note issued to investors on Thursday, MarketBeat reports.

A number of other brokerages also recently issued reports on OUST. UBS Group set a $16.00 price target on Ouster in a report on Thursday, March 27th. Oppenheimer initiated coverage on Ouster in a research report on Thursday, March 27th. They set an “outperform” rating and a $16.00 price target 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. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $19.00 price objective on shares of Ouster in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $15.24.

Ouster Trading Down 7.2%

Ouster stock opened at $18.07 on Thursday. The stock’s fifty day simple moving average is $10.25 and its 200-day simple moving average is $10.09. Ouster has a twelve month low of $5.84 and a twelve month high of $20.90. The firm has a market capitalization of $971.55 million, a P/E ratio of -7.03 and a beta of 2.48.

Insider Buying and Selling

In other news, General Counsel Megan Chung sold 5,800 shares of the firm’s stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $11.24, for a total transaction of $65,192.00. Following the sale, the general counsel now owns 220,762 shares in the company, valued at $2,481,364.88. This trade represents a 2.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 6.63% of the company’s stock.

Institutional Trading of Ouster

A number of institutional investors and hedge funds have recently made changes to their positions in OUST. EVR Research LP purchased a new stake in shares of Ouster during the 4th quarter worth about $5,343,000. Trexquant Investment LP raised its holdings in shares of Ouster by 113.9% during the 4th quarter. Trexquant Investment LP now owns 602,448 shares of the company’s stock valued at $7,362,000 after buying an additional 320,742 shares during the period. AQR Capital Management LLC lifted its position in Ouster by 610.1% during the 1st quarter. AQR Capital Management LLC now owns 296,311 shares of the company’s stock worth $2,661,000 after acquiring an additional 254,580 shares in the last quarter. Penn Capital Management Company LLC boosted its holdings in Ouster by 27.4% in the 4th quarter. Penn Capital Management Company LLC now owns 1,094,528 shares of the company’s stock worth $13,375,000 after acquiring an additional 235,563 shares during the period. Finally, Manatuck Hill Partners LLC purchased a new position in Ouster in the 4th quarter worth approximately $2,566,000. 31.45% of the stock is currently owned by institutional investors and hedge funds.

About Ouster

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.