Ouster (NYSE:OUST) Shares Gap Down - What's Next?

Ouster, Inc. (NYSE:OUST - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $20.36, but opened at $19.47. Ouster shares last traded at $18.53, with a volume of 1,291,473 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have recently commented on OUST shares. Rosenblatt Securities reissued a "buy" rating and issued a $17.00 price target on shares of Ouster in a research report on Friday, March 21st. Oppenheimer initiated coverage on Ouster in a research note on Thursday, March 27th. They set an "outperform" rating and a $16.00 target price on the stock. UBS Group set a $16.00 target price on Ouster in a research note on Thursday, March 27th. Cantor Fitzgerald restated a "neutral" rating and set a $19.00 target price on shares of Ouster in a research note on Thursday. Finally, Westpark Capital restated a "hold" rating on shares of Ouster in a research note on Thursday. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $15.24.

Ouster Stock Performance

The company has a 50 day simple moving average of $10.02 and a two-hundred day simple moving average of $10.02. The firm has a market cap of $1.05 billion, a PE ratio of -7.58 and a beta of 2.48.

Insider Transactions at Ouster

In related news, General Counsel Megan Chung sold 5,800 shares of the company's stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $11.24, for a total value of $65,192.00. Following the completion of the transaction, the general counsel now owns 220,762 shares of the company's stock, valued at approximately $2,481,364.88. This represents a 2.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 6.63% of the company's stock.

Hedge Funds Weigh In On Ouster

A number of hedge funds have recently made changes to their positions in OUST. EVR Research LP acquired a new position in shares of Ouster during the fourth quarter valued at approximately $5,343,000. Trexquant Investment LP boosted its position in shares of Ouster by 113.9% during the fourth quarter. Trexquant Investment LP now owns 602,448 shares of the company's stock worth $7,362,000 after buying an additional 320,742 shares during the period. AQR Capital Management LLC boosted its position in shares of Ouster by 610.1% during the first quarter. AQR Capital Management LLC now owns 296,311 shares of the company's stock worth $2,661,000 after buying an additional 254,580 shares during the period. Penn Capital Management Company LLC raised its stake in shares of Ouster by 27.4% in the fourth quarter. Penn Capital Management Company LLC now owns 1,094,528 shares of the company's stock valued at $13,375,000 after acquiring an additional 235,563 shares in the last quarter. Finally, Manatuck Hill Partners LLC acquired a new stake in shares of Ouster in the fourth quarter valued at $2,566,000. Institutional investors and hedge funds 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.