Ouster (NYSE:OUST) Given “Buy” Rating at Westpark Capital

Ouster (NYSE:OUST)‘s stock had its “buy” rating reiterated by equities research analysts at Westpark Capital in a report issued on Wednesday,Benzinga reports. They currently have a $50.00 target price on the stock. Westpark Capital’s target price suggests a potential upside of 88.14% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on OUST. 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 price objective on shares of Ouster in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $25.83.

Ouster Trading Down 4.0%

OUST stock traded down $1.10 during mid-day trading on Wednesday, reaching $26.58. The company’s stock had a trading volume of 2,759,728 shares, compared to its average volume of 2,335,410. The company has a market cap of $1.54 billion, a price-to-earnings ratio of -10.27 and a beta of 2.72. The business’s 50 day moving average price is $30.74 and its 200 day moving average price is $23.38. Ouster has a 12 month low of $6.34 and a 12 month high of $41.65.

Insider Buying and Selling

In related news, CTO Mark Frichtl sold 25,329 shares of Ouster 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 $720,863.34. Following the transaction, the chief technology officer owned 665,403 shares of the company’s stock, valued at $18,937,369.38. The trade was a 3.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Megan Chung sold 17,183 shares of Ouster 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 $489,028.18. Following the transaction, the general counsel directly owned 203,036 shares in the company, valued at approximately $5,778,404.56. The trade was a 7.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 104,615 shares of company stock worth $2,992,286 in the last ninety days. Corporate insiders own 6.63% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. NewEdge Advisors LLC boosted its position in Ouster by 2,532.6% in the second quarter. NewEdge Advisors LLC now owns 1,132 shares of the company’s stock worth $27,000 after purchasing an additional 1,089 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in Ouster by 153.3% in the second quarter. Nisa Investment Advisors LLC now owns 1,211 shares of the company’s stock worth $29,000 after purchasing an additional 733 shares during the last quarter. TD Waterhouse Canada Inc. boosted its position in Ouster by 8,823.5% in the second quarter. TD Waterhouse Canada Inc. now owns 1,517 shares of the company’s stock worth $37,000 after purchasing an additional 1,500 shares during the last quarter. Game Plan Financial Advisors LLC boosted its position in Ouster by 400.0% in the second 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. boosted its position in Ouster by 102.7% in the second quarter. North Capital Inc. now owns 3,000 shares of the company’s stock worth $73,000 after purchasing an additional 1,520 shares during the last quarter. Hedge funds and other institutional investors own 31.45% of the company’s stock.

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.