Ouster, Inc. (NASDAQ:OUST) Given Average Rating of “Hold” by Brokerages

Ouster, Inc. (NASDAQ:OUST) has been assigned a consensus rating of “Hold” from the six brokerages that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $40.20.

Several brokerages have commented on OUST. Oppenheimer reiterated an “outperform” rating and issued a $40.00 price target on shares of Ouster in a research note on Tuesday, March 3rd. Rosenblatt Securities reiterated a “buy” rating and issued a $40.00 price target on shares of Ouster in a research note on Tuesday, March 3rd. Cantor Fitzgerald lowered shares of Ouster from an “overweight” rating to a “neutral” rating in a research note on Thursday, May 7th. Finally, Weiss Ratings began coverage on shares of Ouster in a research note on Friday, May 15th. They issued a “sell (d-)” rating on the stock.

Ouster Price Performance

Shares of NASDAQ:OUST opened at $37.03 on Monday. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of -38.17 and a beta of 3.06. Ouster has a fifty-two week low of $10.06 and a fifty-two week high of $41.65. The firm’s 50 day moving average price is $24.59 and its 200 day moving average price is $23.31.

Insider Activity at Ouster

In other Ouster news, CEO Charles Angus Pacala sold 24,657 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $23.43, for a total value of $577,713.51. Following the transaction, the chief executive officer directly owned 960,660 shares in the company, valued at $22,508,263.80. This represents a 2.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Mark Frichtl sold 136,434 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $32.56, for a total transaction of $4,442,291.04. Following the completion of the transaction, the chief technology officer owned 628,638 shares in the company, valued at $20,468,453.28. This represents a 17.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 503,475 shares of company stock worth $14,196,335 over the last quarter. 5.72% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ouster

Hedge funds have recently modified their holdings of the business. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Ouster during the third quarter worth approximately $1,677,000. Hillsdale Investment Management Inc. purchased a new position in shares of Ouster during the third quarter worth approximately $3,038,000. Handelsbanken Fonder AB grew its position in shares of Ouster by 1,419.5% during the third quarter. Handelsbanken Fonder AB now owns 310,205 shares of the company’s stock worth $8,385,000 after acquiring an additional 289,790 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Ouster by 43.2% during the fourth quarter. SG Americas Securities LLC now owns 276,578 shares of the company’s stock worth $5,985,000 after acquiring an additional 83,448 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Ouster by 514.6% during the third quarter. JPMorgan Chase & Co. now owns 185,198 shares of the company’s stock worth $5,010,000 after acquiring an additional 155,063 shares during the last quarter. 31.45% of the stock is currently owned by hedge funds and other institutional investors.

Ouster Company Profile

Ouster, Inc is a leading provider of high-resolution digital lidar sensors, software and services designed to enable advanced perception capabilities across a range of industries. Headquartered in San Francisco, California, the company develops modular lidar solutions that capture precise three-dimensional data in real time, supporting applications from autonomous vehicles and robotics to mapping, smart infrastructure and industrial automation.

The company’s core product lineup features multi-beam digital lidar units available in various form factors, including compact models for robotics and drones and larger units for automotive and mapping systems.