Rosenblatt Securities Reaffirms Buy Rating for Ouster (NYSE:OUST)

Ouster (NYSE:OUST)‘s stock had its “buy” rating restated by equities researchers at Rosenblatt Securities in a research note issued to investors on Friday,Benzinga reports. They presently have a $17.00 price target on the stock. Rosenblatt Securities’ target price would indicate a potential upside of 112.90% from the company’s current price.

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

Ouster Price Performance

Shares of Ouster stock traded up $0.12 during midday trading on Friday, hitting $7.99. 1,980,030 shares of the company traded hands, compared to its average volume of 1,139,497. The stock has a market cap of $385.92 million, a price-to-earnings ratio of -2.73 and a beta of 2.34. The company has a debt-to-equity ratio of 0.26, a quick ratio of 3.14 and a current ratio of 3.40. The firm’s fifty day moving average price is $6.78 and its 200-day moving average price is $9.42. Ouster has a 12 month low of $4.08 and a 12 month 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 return on equity of 68.48% and a negative net margin of 122.32%. The firm had revenue of $26.99 million during the quarter. As a group, sell-side analysts forecast that Ouster will post -2.4 earnings per share for the current year.

Institutional Trading of Ouster

Several institutional investors and hedge funds have recently made changes to their positions in OUST. Van ECK Associates Corp lifted its holdings in Ouster by 28.4% during the third quarter. Van ECK Associates Corp now owns 7,264 shares of the company’s stock worth $46,000 after acquiring an additional 1,608 shares during the period. 180 Wealth Advisors LLC raised its stake in shares of Ouster by 8.5% during the 2nd quarter. 180 Wealth Advisors LLC now owns 23,168 shares of the company’s stock worth $228,000 after purchasing an additional 1,823 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Ouster during the 2nd quarter worth $27,000. Russell Investments Group Ltd. boosted its holdings in shares of Ouster by 17.2% in the 1st quarter. Russell Investments Group Ltd. now owns 49,611 shares of the company’s stock worth $394,000 after buying an additional 7,269 shares during the last quarter. Finally, Lake Street Advisors Group LLC bought a new position in Ouster during the first quarter valued at about $79,000. 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.