Brokerages Set Ouster, Inc. (NASDAQ:OUST) Price Target at $54.67

Ouster, Inc. (NASDAQ:OUST) has received an average recommendation of “Moderate Buy” from the nine research firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $54.6667.

A number of analysts have issued reports on OUST shares. Northland Securities set a $60.00 target price on Ouster and gave the company an “outperform” rating in a report on Tuesday, July 21st. Roth Capital began coverage on shares of Ouster in a research report on Friday, May 29th. They set a “buy” rating and a $75.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ouster in a research note on Wednesday, August 12th. Citigroup reissued an “outperform” rating on shares of Ouster in a report on Tuesday, July 21st. Finally, Rosenblatt Securities restated a “buy” rating and set a $53.00 price objective on shares of Ouster in a report on Thursday, August 27th.

Insiders Place Their Bets

In other news, General Counsel Megan Chung sold 11,484 shares of Ouster stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $33.96, for a total transaction of $389,996.64. Following the sale, the general counsel owned 189,291 shares of the company’s stock, valued at approximately $6,428,322.36. This trade represents a 5.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Mark Frichtl sold 18,778 shares of the business’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $33.96, for a total transaction of $637,700.88. Following the completion of the sale, the chief technology officer directly owned 318,987 shares in the company, valued at $10,832,798.52. This trade represents a 5.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 173,037 shares of company stock valued at $6,720,238 in the last quarter. 5.72% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ouster

Several hedge funds and other institutional investors have recently made changes to their positions in OUST. Arrowstreet Capital Limited Partnership acquired a new position in Ouster during the first quarter worth $8,915,000. Baird Financial Group Inc. acquired a new stake in Ouster in the 2nd quarter valued at $25,218,000. Bastion Asset Management Inc. acquired a new stake in Ouster in the 1st quarter valued at $5,271,000. Wellington Management Group LLP bought a new stake in Ouster during the 2nd quarter worth about $15,384,000. Finally, Bank of New York Mellon Corp bought a new stake in Ouster during the 2nd quarter worth about $11,192,000. 31.45% of the stock is owned by institutional investors and hedge funds.

Ouster Stock Performance

NASDAQ:OUST opened at $40.25 on Friday. The stock’s 50 day moving average price is $38.27 and its 200 day moving average price is $34.57. Ouster has a 52 week low of $16.40 and a 52 week high of $63.79. The company has a market capitalization of $2.90 billion, a P/E ratio of -46.80 and a beta of 3.25.

Ouster (NASDAQ:OUST) last posted its earnings results on Thursday, August 6th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.14). Ouster had a negative net margin of 26.02% and a negative return on equity of 17.49%. The company had revenue of $54.63 million for the quarter, compared to the consensus estimate of $51.47 million. As a group, sell-side analysts forecast that Ouster will post -1.07 earnings per share for the current fiscal year.

About Ouster

Ouster, Inc develops lidar sensors and software used to help machines perceive and understand their surroundings. Its digital lidar technology measures distance and generates three-dimensional data for applications including industrial automation, robotics, intelligent transportation, infrastructure monitoring and automotive systems.

The company offers a portfolio of lidar sensors designed for different range, resolution and deployment requirements, along with software and perception tools that help customers interpret sensor data.