Shares of Ouster (OUST) began trading higher and rose 37% at the time of writing. The company is a LIDAR technology firm who engages in the provision of high resolution digital LIDAR sensors that offer advanced 3D vision to machinery, vehicles, robots, and fixed infrastructure assets.
A report came out today detailing that Citi became bullish on the company, they state the company has a leading position in non-auto verticals and Citi initiates coverage of lidar sensor company Ouster with a Buy rating and $17 price target.
The firm outlines three key factors for lidar stocks: penetration within both auto/AV and non-auto markets, evolution of the competitive landscape, and the software and data opportunities.
LIDAR competitor Innoviz Technologies (INVZ) becomes public
Shares of lidar sensor company Innoviz (INVZ) are up 10% heading toward the closing bell of its second day of trading following the reverse merger with SPAC Collective Growth (CGRO), also yesterday, Innoviz announced the ramp up towards high-volume production for its InnovizOne solution, which will serve BMW series production and other customers. The company will also continue with the introduction of next-gen lidar sensor InnovizTwo.