Ouster (NYSE:OUST) Downgraded to “Neutral” at Cantor Fitzgerald

Cantor Fitzgerald downgraded shares of Ouster (NYSE:OUST) from an overweight rating to a neutral rating in a research report report published on Wednesday morning, MarketBeat.com reports. The firm currently has $13.00 target price on the stock, up from their previous target price of $8.00. Cantor Fitzgerald also issued estimates for Ouster’s FY2024 earnings at ($2.34) EPS.

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

Ouster Price Performance

NYSE:OUST opened at $11.50 on Wednesday. Ouster has a 1-year low of $3.67 and a 1-year high of $14.17. The company has a debt-to-equity ratio of 0.26, a current ratio of 3.09 and a quick ratio of 2.83. The company has a 50 day moving average price of $8.87 and a 200-day moving average price of $6.90. The firm has a market cap of $520.03 million, a price-to-earnings ratio of -2.06 and a beta of 2.40.

Ouster (NYSE:OUST) last released its quarterly earnings results on Tuesday, March 26th. The company reported ($0.95) earnings per share (EPS) for the quarter. The company 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%. Equities research analysts forecast that Ouster will post -2.34 EPS for the current year.

Insider Activity

In related news, Director Virginia Boulet acquired 10,000 shares of Ouster stock in a transaction that occurred on Wednesday, May 15th. The shares were purchased at an average price of $12.20 per share, for a total transaction of $122,000.00. Following the completion of the transaction, the director now owns 173,089 shares in the company, valued at approximately $2,111,685.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, General Counsel Megan Chung sold 5,776 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $7.96, for a total transaction of $45,976.96. Following the completion of the sale, the general counsel now owns 163,966 shares in the company, valued at approximately $1,305,169.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Virginia Boulet purchased 10,000 shares of Ouster stock in a transaction dated Wednesday, May 15th. The shares were purchased at an average cost of $12.20 per share, for a total transaction of $122,000.00. Following the transaction, 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 sold 36,986 shares of company stock worth $290,359 over the last ninety days. Corporate insiders own 6.00% of the company’s stock.

Institutional Investors Weigh In On Ouster

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OUST. Vanguard Group Inc. grew its holdings in shares of Ouster by 7.6% during the 1st quarter. Vanguard Group Inc. now owns 2,328,823 shares of the company’s stock worth $18,491,000 after purchasing an additional 164,360 shares during the period. AIGH Capital Management LLC boosted its stake in Ouster by 44.2% during the fourth quarter. AIGH Capital Management LLC now owns 1,857,114 shares of the company’s stock worth $14,244,000 after buying an additional 569,121 shares during the period. Penn Capital Management Company LLC increased its position in shares of Ouster by 21.6% during the fourth quarter. Penn Capital Management Company LLC now owns 886,045 shares of the company’s stock valued at $6,806,000 after acquiring an additional 157,338 shares during the last quarter. New York State Common Retirement Fund raised its stake in shares of Ouster by 21.0% in the 4th quarter. New York State Common Retirement Fund now owns 601,475 shares of the company’s stock valued at $4,613,000 after acquiring an additional 104,197 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Ouster in the 4th quarter worth approximately $4,585,000. 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.