Ouster (NYSE:OUST) Shares Gap Up - Here's What Happened

Key Points

• Ouster shares gapped up from a previous close of $28.51 to open at $30.05 and last traded at $29.69, with a trading volume of 730,703 shares.
• Analysts have a consensus rating of "Buy" for Ouster, with a strong buy rating from one analyst and an average target price of $15.95.
• Institutional investors have significantly increased their holdings, with Osaic Holdings Inc. boosting their position in Ouster by 3,452.7% during the second quarter.

Ouster, Inc. (NYSE:OUST - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $28.51, but opened at $30.05. Ouster shares last traded at $29.69, with a volume of 730,703 shares trading hands.

Analysts Set New Price Targets

OUST has been the topic of a number of research reports. Westpark Capital upgraded shares of Ouster from a "hold" rating to a "buy" rating in a report on Wednesday, August 13th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $19.00 target price on shares of Ouster in a report on Thursday, June 12th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, Ouster currently has a consensus rating of "Buy" and an average target price of $15.95.

Ouster Trading Down 1.0%

The firm has a 50 day moving average price of $27.18 and a two-hundred day moving average price of $16.75. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of -10.98 and a beta of 2.75.

Institutional Investors Weigh In On Ouster

Institutional investors and hedge funds have recently modified their holdings of the stock. Osaic Holdings Inc. lifted its position in Ouster by 3,452.7% during the 2nd quarter. Osaic Holdings Inc. now owns 121,893 shares of the company's stock worth $2,956,000 after acquiring an additional 118,462 shares in the last quarter. Centaurus Financial Inc. purchased a new stake in Ouster during the 2nd quarter worth approximately $104,000. Marex Group plc purchased a new position in shares of Ouster during the 2nd quarter valued at approximately $298,000. State of Wyoming acquired a new stake in shares of Ouster during the second quarter worth approximately $114,000. Finally, FORA Capital LLC bought a new stake in shares of Ouster in the second quarter worth $1,109,000. Hedge funds and other institutional investors 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.

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