Ouster’s (OUST) “Buy” Rating Reiterated at Rosenblatt Securities

Ouster (NYSE:OUST)‘s stock had its “buy” rating reissued by analysts at Rosenblatt Securities in a research note issued to investors on Friday,Benzinga reports. They currently have a $17.00 target price on the stock. Rosenblatt Securities’ price objective suggests a potential upside of 112.90% from the stock’s previous close.

Several other research analysts also recently commented on OUST. Craig Hallum cut their target price on Ouster from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, August 14th. Westpark Capital reissued a “buy” rating and issued a $17.00 price target on shares of Ouster in a report on Monday, August 12th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $12.00 price objective on shares of Ouster in a research note on Monday, September 30th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $13.40.

Ouster Stock Performance

Shares of NYSE OUST traded up $0.12 during midday trading on Friday, hitting $7.99. The company’s stock had a trading volume of 1,980,030 shares, compared to its average volume of 1,139,497. The firm has a market capitalization of $385.92 million, a price-to-earnings ratio of -2.73 and a beta of 2.34. The company has a current ratio of 3.40, a quick ratio of 3.14 and a debt-to-equity ratio of 0.26. The stock has a fifty day moving average price of $6.78 and a 200 day moving average price of $9.42. Ouster has a one year low of $4.08 and a one year high of $16.88.

Ouster (NYSE:OUST) last issued its earnings results on Tuesday, August 13th. The company reported ($0.53) earnings per share (EPS) for the quarter. Ouster had a negative net margin of 122.32% and a negative return on equity of 68.48%. The business had revenue of $26.99 million for the quarter. On average, research analysts forecast that Ouster will post -2.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Ouster

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Ouster by 7.6% in 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 in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in Ouster in the 1st quarter worth approximately $111,000. Renaissance Technologies LLC purchased a new stake in Ouster in the second quarter worth approximately $1,217,000. Bank of New York Mellon Corp bought a new position in Ouster during the second quarter valued at approximately $1,305,000. Finally, Marshall Wace LLP raised its stake in shares of Ouster by 184.9% during the second quarter. Marshall Wace LLP now owns 653,530 shares of the company’s stock worth $6,424,000 after acquiring an additional 424,178 shares in the last quarter. Hedge funds and other institutional investors 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.