Ouster, Inc. (NYSE:OUST) Given Average Rating of “Buy” by Analysts

Shares of Ouster, Inc. (NYSE:OUST) have earned an average rating of “Buy” from the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $13.17.

OUST has been the topic of a number of analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $17.00 target price on shares of Ouster in a research note on Friday, November 8th. Northland Securities began coverage on Ouster in a research report on Thursday, December 12th. They issued an “outperform” rating and a $14.00 price objective on the stock. Cantor Fitzgerald upgraded Ouster from a “neutral” rating to an “overweight” rating and decreased their target price for the stock from $12.00 to $10.00 in a research report on Monday, November 11th. Finally, Northland Capmk upgraded shares of Ouster to a “strong-buy” rating in a report on Thursday, December 12th.

Insider Transactions at Ouster

In other Ouster news, General Counsel Megan Chung sold 13,671 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $9.69, for a total transaction of $132,471.99. Following the completion of the sale, the general counsel now owns 149,647 shares in the company, valued at $1,450,079.43. This represents a 8.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Mark Frichtl bought 5,045 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were bought at an average cost of $9.78 per share, for a total transaction of $49,340.10. Following the transaction, the chief technology officer now directly owns 513,121 shares in the company, valued at approximately $5,018,323.38. This represents a 0.99 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 80,415 shares of company stock valued at $748,620. 7.81% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. American Century Companies Inc. grew its stake in Ouster by 38.5% in the second quarter. American Century Companies Inc. now owns 45,615 shares of the company’s stock valued at $448,000 after purchasing an additional 12,691 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Ouster during the second quarter valued at about $1,217,000. The Manufacturers Life Insurance Company bought a new stake in shares of Ouster in the 2nd quarter valued at about $163,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Ouster in the 2nd quarter worth approximately $27,000. Finally, True North Advisors LLC bought a new position in shares of Ouster during the 3rd quarter worth approximately $78,000. 31.45% of the stock is owned by institutional investors.

Ouster Trading Up 7.5 %

Shares of OUST opened at $11.05 on Friday. The company’s fifty day simple moving average is $10.99 and its 200-day simple moving average is $9.22. The company has a market cap of $549.96 million, a P/E ratio of -4.30 and a beta of 2.36. Ouster has a twelve month low of $4.65 and a twelve month high of $16.88.

Ouster (NYSE:OUST) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.54) earnings per share for the quarter. The firm had revenue of $28.08 million during the quarter. Ouster had a negative return on equity of 65.17% and a negative net margin of 106.50%. During the same quarter in the prior year, the business earned ($0.89) earnings per share. Analysts predict that Ouster will post -2.2 earnings per share for the current fiscal year.

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.