Ouster (NYSE:OUST) Earns “Buy” Rating from Westpark Capital

Ouster (NYSE:OUST)‘s stock had its “buy” rating reaffirmed by analysts at Westpark Capital in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $50.00 price objective on the stock. Westpark Capital’s price objective points to a potential upside of 107.21% from the company’s previous close.

Other analysts also recently issued research reports about the company. Zacks Research downgraded Ouster from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. Oppenheimer reissued an “outperform” rating and issued a $39.00 target price on shares of Ouster in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Ouster has an average rating of “Buy” and an average price target of $32.17.

Ouster Stock Down 6.7%

Shares of Ouster stock opened at $24.13 on Wednesday. Ouster has a 12-month low of $6.34 and a 12-month high of $41.65. The firm has a market capitalization of $1.40 billion, a PE ratio of -9.39 and a beta of 2.74. The stock’s fifty day moving average is $30.52 and its 200-day moving average is $23.40.

Insiders Place Their Bets

In other news, CTO Mark Frichtl sold 25,329 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $28.46, for a total value of $720,863.34. Following the completion of the sale, the chief technology officer directly owned 665,403 shares of the company’s stock, valued at $18,937,369.38. This represents a 3.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Charles Angus Pacala sold 37,992 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $28.46, for a total transaction of $1,081,252.32. Following the sale, the chief executive officer owned 1,009,927 shares of the company’s stock, valued at approximately $28,742,522.42. This represents a 3.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 104,615 shares of company stock worth $2,992,286. Insiders own 6.63% of the company’s stock.

Institutional Investors Weigh In On Ouster

A number of institutional investors have recently modified their holdings of OUST. NewEdge Advisors LLC grew its holdings in shares of Ouster by 2,532.6% during the 2nd quarter. NewEdge Advisors LLC now owns 1,132 shares of the company’s stock valued at $27,000 after acquiring an additional 1,089 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Ouster by 153.3% during the second quarter. Nisa Investment Advisors LLC now owns 1,211 shares of the company’s stock valued at $29,000 after purchasing an additional 733 shares during the last quarter. TD Waterhouse Canada Inc. grew its stake in Ouster by 8,823.5% in the second quarter. TD Waterhouse Canada Inc. now owns 1,517 shares of the company’s stock valued at $37,000 after purchasing an additional 1,500 shares in the last quarter. Game Plan Financial Advisors LLC increased its position in Ouster by 400.0% in the 2nd quarter. Game Plan Financial Advisors LLC now owns 3,000 shares of the company’s stock worth $73,000 after purchasing an additional 2,400 shares during the last quarter. Finally, North Capital Inc. raised its stake in shares of Ouster by 102.7% during the 2nd quarter. North Capital Inc. now owns 3,000 shares of the company’s stock worth $73,000 after purchasing an additional 1,520 shares in the last quarter. Institutional investors and hedge funds own 31.45% of the company’s stock.

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.