Cantor Fitzgerald Lowers Ouster (NYSE:OUST) to Neutral

Cantor Fitzgerald lowered shares of Ouster (NYSE:OUST) from an overweight rating to a neutral rating in a research note published on Wednesday, Marketbeat Ratings reports. They currently have $13.00 price target on the stock, up from their previous price target of $8.00. Cantor Fitzgerald also issued estimates for Ouster’s FY2024 earnings at ($2.34) EPS.

Other analysts have also recently issued research reports about the stock. Craig Hallum boosted their target price on shares of Ouster from $10.00 to $13.00 and gave the stock a buy rating in a research note on Friday, May 10th. Chardan Capital reissued a neutral rating and set a $10.00 target price on shares of Ouster in a research note on Wednesday, April 3rd. Finally, Rosenblatt Securities upped their price objective on shares of Ouster from $12.00 to $17.00 and gave the company a buy rating in a research note on Friday, May 10th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $12.10.

Ouster Stock Up 2.3 %

OUST opened at $11.52 on Wednesday. Ouster has a fifty-two week low of $3.67 and a fifty-two week high of $14.17. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.83 and a current ratio of 3.09. The company has a fifty day moving average of $8.87 and a two-hundred day moving average of $6.89. The stock has a market capitalization of $520.71 million, a price-to-earnings ratio of -2.06 and a beta of 2.40.

Ouster (NYSE:OUST) last released its quarterly earnings data on Tuesday, March 26th. The company reported ($0.95) earnings per share for the quarter. The firm had revenue of $24.44 million during the quarter. Ouster had a negative net margin of 239.89% and a negative return on equity of 88.42%. On average, research analysts expect that Ouster will post -2.34 earnings per share for the current year.

Insider Buying and Selling at Ouster

In other news, Director Virginia Boulet bought 10,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were bought at an average cost of $12.20 per share, for a total transaction of $122,000.00. Following the acquisition, the director now directly owns 173,089 shares of the company’s stock, valued at approximately $2,111,685.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Mark Weinswig sold 19,990 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $9.35, for a total value of $186,906.50. Following the transaction, the chief financial officer now directly owns 236,800 shares in the company, valued at approximately $2,214,080. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Virginia Boulet acquired 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was bought at an average price of $12.20 per share, for a total transaction of $122,000.00. Following the completion of the acquisition, the director now owns 173,089 shares in the company, valued at approximately $2,111,685.80. The disclosure for this purchase can be found here. Insiders have sold 36,986 shares of company stock worth $290,359 in the last ninety days. 6.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Ouster

Hedge funds have recently added to or reduced their stakes in the business. Daiwa Securities Group Inc. acquired a new stake in Ouster during the 4th quarter worth approximately $70,000. International Assets Investment Management LLC increased its position in shares of Ouster by 667.0% in the 4th quarter. International Assets Investment Management LLC now owns 9,894 shares of the company’s stock valued at $76,000 after purchasing an additional 8,604 shares during the last quarter. Psagot Value Holdings Ltd. Israel purchased a new stake in shares of Ouster in the 4th quarter valued at approximately $76,000. Bison Wealth LLC purchased a new stake in shares of Ouster in the 4th quarter valued at approximately $79,000. Finally, Lake Street Advisors Group LLC purchased a new stake in shares of Ouster in the 1st quarter valued at approximately $79,000. 31.45% of the stock is currently owned by institutional investors and hedge funds.

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.