Ouster (NYSE:OUST) Shares Down 8.5% - What's Next?

Key Points

• Ouster, Inc. shares dropped by 8.5% during trading, closing at $31.77, down from a previous close of $34.72.
• Analysts have mixed ratings for Ouster, with a consensus rating of "Buy" and an average price target of $15.95.
• Institutional investors currently own 31.45% of Ouster's stock, with significant increases in holdings from firms like JPMorgan Chase & Co. and Russell Investments Group Ltd.

Ouster, Inc. (NYSE:OUST - Get Free Report)'s stock price traded down 8.5% during mid-day trading on Monday . The company traded as low as $32.80 and last traded at $31.77. 664,938 shares were traded during mid-day trading, a decline of 69% from the average session volume of 2,169,184 shares. The stock had previously closed at $34.72.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Westpark Capital upgraded Ouster from a "hold" rating to a "buy" rating in a report on Wednesday, August 13th. Cantor Fitzgerald reiterated 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 assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $15.95.

Ouster Stock Up 3.1%

The stock has a market cap of $1.65 billion, a PE ratio of -11.93 and a beta of 2.74. The firm has a fifty day moving average of $25.60 and a 200 day moving average of $15.14.

Institutional Investors Weigh In On Ouster

A number of institutional investors and hedge funds have recently bought and sold shares of OUST. Vanguard Group Inc. grew its position in Ouster by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 3,825,565 shares of the company's stock worth $34,354,000 after purchasing an additional 190,885 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Ouster by 8.7% in the second quarter. Geode Capital Management LLC now owns 1,190,545 shares of the company's stock valued at $28,876,000 after buying an additional 95,510 shares in the last quarter. Penn Capital Management Company LLC increased its position 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 buying an additional 60,886 shares in the last quarter. Marshall Wace LLP increased its position in shares of Ouster by 29.0% in the second quarter. Marshall Wace LLP now owns 687,260 shares of the company's stock valued at $16,666,000 after buying an additional 154,353 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Ouster by 1,521.8% in the second quarter. Invesco Ltd. now owns 571,662 shares of the company's stock valued at $13,863,000 after buying an additional 536,413 shares in the last quarter. 31.45% of the stock is owned by hedge funds and other institutional investors.

About Ouster

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.