Ouster (NYSE:OUST) Sees Large Volume Increase on Analyst Upgrade

Ouster, Inc. (NYSE:OUST) saw strong trading volume on Friday after Cantor Fitzgerald raised their price target on the stock from $10.00 to $11.00. Cantor Fitzgerald currently has an overweight rating on the stock. 3,761,063 shares traded hands during trading, an increase of 182% from the previous session’s volume of 1,335,890 shares.The stock last traded at $10.43 and had previously closed at $8.38.

A number of other equities research analysts have also recently issued reports on the stock. Northland Securities initiated coverage on shares of Ouster in a research note on Thursday, December 12th. They issued an “outperform” rating and a $14.00 price target on the stock. Westpark Capital started coverage on shares of Ouster in a research note on Monday. They set a “hold” rating for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $17.00 price objective on shares of Ouster in a report on Friday. Finally, Northland Capmk upgraded Ouster to a “strong-buy” rating in a research note on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.33.

Institutional Trading of Ouster

Several large investors have recently bought and sold shares of OUST. Daiwa Securities Group Inc. lifted its position in Ouster by 18.0% during the fourth quarter. Daiwa Securities Group Inc. now owns 6,977 shares of the company’s stock worth $85,000 after buying an additional 1,063 shares in the last quarter. AlphaQuest LLC raised its holdings in shares of Ouster by 916.0% during the 4th quarter. AlphaQuest LLC now owns 8,270 shares of the company’s stock worth $101,000 after acquiring an additional 7,456 shares during the period. ExodusPoint Capital Management LP acquired a new stake in Ouster during the fourth quarter worth about $154,000. Intech Investment Management LLC purchased a new position in Ouster during the third quarter worth about $81,000. Finally, SVB Wealth LLC acquired a new position in Ouster in the 4th quarter valued at about $163,000. Hedge funds and other institutional investors own 31.45% of the company’s stock.

Ouster Stock Performance

The firm’s 50 day moving average price is $9.41 and its two-hundred day moving average price is $8.90. The firm has a market cap of $526.43 million, a PE ratio of -4.07 and a beta of 2.38.

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.