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

Ouster, Inc. (NYSE:OUST - Get Free Report)'s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $16.03, but opened at $18.22. Ouster shares last traded at $19.56, with a volume of 6,065,262 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Rosenblatt Securities reiterated a "buy" rating and issued a $17.00 target price on shares of Ouster in a research note on Friday, March 21st. Oppenheimer assumed coverage on shares of Ouster in a research note on Thursday, March 27th. They issued an "outperform" rating and a $16.00 target price for the company. UBS Group set a $16.00 target price on shares of Ouster in a research note on Thursday, March 27th. Westpark Capital cut shares of Ouster from a "strong-buy" rating to a "hold" rating in a research note on Thursday. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $19.00 target price on shares of Ouster in a research note on Thursday. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Ouster currently has a consensus rating of "Moderate Buy" and an average price target of $15.24.

Ouster Price Performance

The stock has a market cap of $971.55 million, a P/E ratio of -7.03 and a beta of 2.48. The business's 50 day simple moving average is $10.25 and its 200 day simple moving average is $10.09.

Insider Activity

In other news, General Counsel Megan Chung sold 5,800 shares of Ouster stock in a transaction that occurred on Wednesday, March 26th. The shares were 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 in the company, valued at approximately $2,481,364.88. The trade was a 2.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 6.63% of the stock is currently owned by corporate insiders.

Institutional Trading of Ouster

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Ouster by 5.3% in the first quarter. Vanguard Group Inc. now owns 3,825,565 shares of the company's stock valued at $34,354,000 after purchasing an additional 190,885 shares in the last quarter. Penn Capital Management Company LLC increased its holdings in shares of Ouster by 5.6% in the first quarter. Penn Capital Management Company LLC now owns 1,155,414 shares of the company's stock valued at $10,387,000 after purchasing an additional 60,886 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Ouster by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 1,022,274 shares of the company's stock valued at $12,495,000 after purchasing an additional 46,867 shares in the last quarter. New York State Common Retirement Fund increased its holdings in shares of Ouster by 25.8% in the fourth quarter. New York State Common Retirement Fund now owns 759,491 shares of the company's stock valued at $9,281,000 after purchasing an additional 155,640 shares in the last quarter. Finally, Trexquant Investment LP increased its holdings in shares of Ouster by 113.9% in the fourth quarter. Trexquant Investment LP now owns 602,448 shares of the company's stock valued at $7,362,000 after purchasing an additional 320,742 shares in the last quarter. 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.