Autonomous vehicle technology stocks to evict (OUST) jumped Friday, adding to its 13% rally since reporting first-quarter results last week. The company specializes in sensing devices called Lidar — for light detection and ranging — a key enabler for autonomous vehicle systems, as AI and self-driving vehicles have dominated headlines recently. Is.
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Oyster stock rose 11.7%, touching an intraday high of 14.15, on above-average volume during market action on Friday. Lidar stock fell 3.6 percent to 11.66 on Thursday. OUST stock is up 52% in 2024 and up 13% since Q1 earnings on May 9, according to MarketSurge charts.
OUST stock is extended from the cup base by an official buy point of 8.56.
Last week, OUST reported better-than-expected first-quarter financials and guided slightly higher than expectations for Q2. After the earnings, lidar stock rose 20% and Craig-Hallum analyst Richard Shannon raised the firm's price target on OUST stock to 13 from 10, with a buy rating.
Meanwhile, Rosenblatt raised its price target to 17 from 12 last Friday. Since May 10, four analysts have revised quarterly EPS estimates, indicating a trend that earnings could be 32% higher than the general consensus, according to FactSet analysis.
Oster makes high-resolution digital lidar sensors that provide three-dimensional vision for machinery, vehicles and robots. The company was founded in 2015 and merged with fellow lidar stock Velodyne in late 2022. It went public on the New York Stock Exchange in March 2021, through a reverse merger with special purpose acquisition company Colonnade Acquisition.
Lidar has been described as the eyes of automation. It can be used for everything from cars to robot training with AI using adaptive cruise control.
Leatherstock and Tesla's autonomous driving
As U.S. leader stock OUST rose on Friday, Reuters reported. Tesla (TSLA) is developing plans for a China data center to train algorithms for fully self-driving autonomous vehicles.
Tesla has been focusing on AI investments, fully self-driving and its “robotaxis” vehicle in recent months. This includes China's apparent efforts to launch its own autonomous driving.
during this Bedouin (BIDU) claimed on Thursday morning that its autonomous ride-hailing service, Apollo Go, offered 826,000 rides in Q1. According to Baidu, as of April, the total number of autonomous rides was more than 6 million.
Several publicly traded companies are selling vision systems for autonomous vehicles and other applications. They include Eva Technologies (AEVA), A.E (LIDR), Arby Robotics (ARBE), The sept (CPTN) Innovate Technologies (INVZ) Luminar (LAZR), Microvision (MVIS) and mobile phones (MBLY).
Osterstock has an excellent composite rating of 85 out of a possible 99. Lidar stock has a relative strength rating of 98 and an EPS rating of 63.
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