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

Key Points

• Shares gapped down, opening at $26.50 from a prior close of $28.60 and last trading around $26.38 on a volume of about 1.52 million shares.
• Analysts are largely positive — four Buys and one Hold — giving a consensus rating of "Moderate Buy" with an average price target of about $40.20 (Oppenheimer and Rosenblatt at $40).
• There has been notable insider selling recently — 263,809 shares (~$6.33M) sold in the past three months including CEO and GC transactions — while insiders own 6.63% and institutions own 31.45% of the stock.

Ouster, Inc. (NYSE:OUST - Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $28.60, but opened at $26.50. Ouster shares last traded at $26.3820, with a volume of 1,518,576 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on OUST. Oppenheimer restated an "outperform" rating and set a $40.00 price objective on shares of Ouster in a report on Tuesday, March 3rd. Rosenblatt Securities reissued a "buy" rating and set a $40.00 price target on shares of Ouster in a research report on Tuesday, March 3rd. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $40.20.

Ouster Price Performance

The business's 50-day simple moving average is $21.95 and its two-hundred day simple moving average is $23.48. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of -11.44 and a beta of 3.06.

Insider Buying and Selling at Ouster

In other Ouster news, CEO Charles Angus Pacala sold 24,657 shares of the firm's stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $23.43, for a total value of $577,713.51. Following the transaction, the chief executive officer directly owned 960,660 shares of the company's stock, valued at $22,508,263.80. This trade represents a 2.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Megan Chung sold 9,593 shares of the company's stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $23.43, for a total value of $224,763.99. Following the completion of the sale, the general counsel directly owned 173,548 shares of the company's stock, valued at $4,066,229.64. The trade was a 5.24% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 263,809 shares of company stock worth $6,333,722. Corporate insiders own 6.63% of the company's stock.

Institutional Trading of Ouster

Large investors have recently bought and sold shares of the company. Van ECK Associates Corp boosted its stake in shares of Ouster by 17.1% in the third quarter. Van ECK Associates Corp now owns 3,590 shares of the company's stock valued at $97,000 after purchasing an additional 525 shares during the period. Main Management ETF Advisors LLC lifted its holdings in Ouster by 1.0% in the 4th quarter. Main Management ETF Advisors LLC now owns 54,810 shares of the company's stock worth $1,186,000 after buying an additional 560 shares in the last quarter. Corient Private Wealth LLC boosted its position in Ouster by 5.5% in the 2nd quarter. Corient Private Wealth LLC now owns 11,554 shares of the company's stock valued at $280,000 after buying an additional 599 shares during the last quarter. Prosperity Wealth Management Inc. grew its stake in shares of Ouster by 5.5% during the third quarter. Prosperity Wealth Management Inc. now owns 13,000 shares of the company's stock valued at $352,000 after acquiring an additional 675 shares in the last quarter. Finally, Creative Planning increased its position in shares of Ouster by 1.6% during the third quarter. Creative Planning now owns 43,681 shares of the company's stock worth $1,182,000 after acquiring an additional 677 shares during the last quarter. Institutional investors and hedge funds own 31.45% of the company's stock.

Ouster Company Profile

Ouster, Inc is a leading provider of high-resolution digital lidar sensors, software and services designed to enable advanced perception capabilities across a range of industries. Headquartered in San Francisco, California, the company develops modular lidar solutions that capture precise three-dimensional data in real time, supporting applications from autonomous vehicles and robotics to mapping, smart infrastructure and industrial automation.

The company's core product lineup features multi-beam digital lidar units available in various form factors, including compact models for robotics and drones and larger units for automotive and mapping systems.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.