Ouster (NYSE:OUST) Downgraded by Cantor Fitzgerald to Neutral

Cantor Fitzgerald cut shares of Ouster (NYSE:OUST) from an overweight rating to a neutral rating in a research note issued to investors on Wednesday morning, MarketBeat reports. Cantor Fitzgerald currently has $13.00 price objective on the stock, up from their prior price objective of $8.00.

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

Ouster Stock Performance

NYSE:OUST opened at $11.50 on Wednesday. The company has a quick ratio of 2.83, a current ratio of 3.09 and a debt-to-equity ratio of 0.26. The company has a market cap of $520.03 million, a P/E ratio of -2.06 and a beta of 2.40. Ouster has a fifty-two week low of $3.67 and a fifty-two week high of $14.17. The firm’s 50 day moving average is $8.61 and its two-hundred day moving average is $6.81.

Ouster (NYSE:OUST) last released its quarterly earnings data on Tuesday, March 26th. The company reported ($0.95) EPS for the quarter. Ouster had a negative return on equity of 88.42% and a negative net margin of 239.89%. The firm had revenue of $24.44 million for the quarter. Analysts expect that Ouster will post -3.54 EPS for the current year.

Insiders Place Their Bets

In other news, Director Virginia Boulet acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were bought at an average price of $12.20 per share, for a total transaction of $122,000.00. Following the completion of the purchase, the director now directly owns 173,089 shares of the company’s stock, valued at approximately $2,111,685.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Ouster news, General Counsel Megan Chung sold 5,776 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was 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 SEC, which is available through the SEC website. Also, Director Virginia Boulet bought 10,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was acquired at an average cost 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 $2,111,685.80. The disclosure for this purchase can be found here. Insiders sold a total of 36,986 shares of company stock worth $290,359 in the last 90 days. 6.00% of the stock is owned by company insiders.

Institutional Trading of Ouster

A number of hedge funds have recently made changes to their positions in OUST. Raymond James & Associates bought a new position in Ouster during the 3rd quarter valued at $159,000. Fox Run Management L.L.C. bought a new position in shares of Ouster during the third quarter worth about $88,000. Barclays PLC acquired a new position in Ouster in the third quarter worth about $200,000. AIGH Capital Management LLC bought a new stake in Ouster in the third quarter valued at about $6,491,000. Finally, Worth Venture Partners LLC acquired a new stake in Ouster during the third quarter valued at approximately $1,587,000. Institutional investors and hedge funds own 31.45% of the company’s stock.

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.