Ouster (NYSE:OUST) Downgraded to “Hold” Rating by Westpark Capital

Ouster (NYSE:OUST) was downgraded by analysts at Westpark Capital from a “strong-buy” rating to a “hold” rating in a report released on Thursday, MarketBeat Ratings reports.

Several other analysts have also recently weighed in on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $17.00 price target on shares of Ouster in a report on Friday, March 21st. UBS Group set a $16.00 price target on shares of Ouster in a research note on Thursday, March 27th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $19.00 price target on shares of Ouster in a research note on Thursday. Finally, Oppenheimer assumed coverage on Ouster in a research report on Thursday, March 27th. They issued an “outperform” rating and a $16.00 target price for the company. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Ouster presently has a consensus rating of “Moderate Buy” and an average target price of $15.24.

Ouster Stock Down 4.3%

NYSE:OUST opened at $19.48 on Thursday. The stock has a market cap of $1.05 billion, a P/E ratio of -7.58 and a beta of 2.48. The firm’s fifty day simple moving average is $10.02 and its 200 day simple moving average is $10.02. Ouster has a twelve month low of $5.84 and a twelve month high of $20.90.

Insider Buying and Selling

In other news, General Counsel Megan Chung sold 5,800 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $11.24, for a total value of $65,192.00. Following the completion of the sale, the general counsel now directly owns 220,762 shares in the company, valued at $2,481,364.88. The trade was a 2.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 6.63% of the company’s stock.

Hedge Funds Weigh In On Ouster

Large investors have recently modified their holdings of the business. Daiwa Securities Group Inc. increased its holdings in Ouster by 18.0% during the 4th quarter. Daiwa Securities Group Inc. now owns 6,977 shares of the company’s stock worth $85,000 after purchasing an additional 1,063 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Ouster by 1.1% in the 4th quarter. Bank of New York Mellon Corp now owns 101,959 shares of the company’s stock valued at $1,246,000 after buying an additional 1,074 shares during the period. Invesco Ltd. raised its holdings in Ouster by 7.3% during the fourth quarter. Invesco Ltd. now owns 20,575 shares of the company’s stock worth $251,000 after purchasing an additional 1,391 shares during the last quarter. Fox Run Management L.L.C. increased its position in Ouster by 4.9% during the fourth quarter. Fox Run Management L.L.C. now owns 31,511 shares of the company’s stock worth $385,000 after buying an additional 1,463 shares in the last quarter. Finally, Intrua Financial LLC increased its position in Ouster by 16.4% during the first quarter. Intrua Financial LLC now owns 13,962 shares of the company’s stock worth $125,000 after buying an additional 1,970 shares in the last quarter. Institutional investors and hedge funds 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.