Ouster (NYSE:OUST) Shares Gap Down – Here’s What Happened

Ouster, Inc. (NYSE:OUST) shares gapped down before the market opened on Tuesday . The stock had previously closed at $11.24, but opened at $10.92. Ouster shares last traded at $10.91, with a volume of 366,427 shares.

Analyst Ratings Changes

A number of research analysts have weighed in on OUST shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Ouster in a research note on Friday, March 21st. Northland Securities assumed coverage on shares of Ouster in a research report on Thursday, December 12th. They issued an “outperform” rating and a $14.00 price target on the stock. Westpark Capital assumed coverage on Ouster in a report on Monday, March 17th. They set a “hold” rating for the company. Cantor Fitzgerald upped their target price on shares of Ouster from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. Finally, Northland Capmk upgraded shares of Ouster to a “strong-buy” rating in a report on Thursday, December 12th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Ouster currently has an average rating of “Moderate Buy” and a consensus target price of $13.33.

Ouster Trading Down 5.4 %

The business’s fifty day moving average is $9.40 and its 200 day moving average is $9.04. The company has a market cap of $528.57 million, a P/E ratio of -4.13 and a beta of 2.38.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Daiwa Securities Group Inc. raised its stake in Ouster by 18.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 6,977 shares of the company’s stock valued at $85,000 after acquiring an additional 1,063 shares during the period. AlphaQuest LLC raised its position in shares of Ouster by 916.0% in the fourth quarter. AlphaQuest LLC now owns 8,270 shares of the company’s stock valued at $101,000 after purchasing an additional 7,456 shares during the period. ExodusPoint Capital Management LP purchased a new stake in shares of Ouster during the 4th quarter valued at approximately $154,000. Intech Investment Management LLC bought a new position in Ouster in the 3rd quarter worth approximately $81,000. Finally, SVB Wealth LLC purchased a new position in Ouster in the 4th quarter valued at approximately $163,000. Hedge funds and other institutional investors own 31.45% of the company’s stock.

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.