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

Ouster, Inc. (NYSE:OUST) shares gapped down prior to trading on Tuesday . The stock had previously closed at $26.36, but opened at $24.65. Ouster shares last traded at $25.48, with a volume of 461,655 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Oppenheimer reiterated an “outperform” rating on shares of Ouster in a report on Thursday, December 4th. Cantor Fitzgerald set a $33.00 target price on shares of Ouster in a research report on Thursday, November 6th. Westpark Capital reiterated a “buy” rating and issued a $50.00 price target on shares of Ouster in a research report on Wednesday, November 5th. Northland Securities set a $38.00 target price on shares of Ouster in a report on Wednesday, November 5th. Finally, Zacks Research downgraded shares of Ouster from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Ouster presently has an average rating of “Moderate Buy” and a consensus target price of $32.17.

Ouster Stock Performance

The stock has a market cap of $1.63 billion, a price-to-earnings ratio of -10.60 and a beta of 2.93. The firm’s 50-day simple moving average is $23.66 and its two-hundred day simple moving average is $27.08.

Insider Buying and Selling

In other news, General Counsel Megan Chung sold 5,837 shares of Ouster stock in a transaction on Friday, January 16th. The stock was sold at an average price of $27.24, for a total value of $158,999.88. Following the completion of the sale, the general counsel directly owned 183,141 shares of the company’s stock, valued at approximately $4,988,760.84. This trade represents a 3.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ted L. Tewksbury III sold 1,695 shares of the business’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $21.47, for a total value of $36,391.65. Following the sale, the director owned 123,664 shares of the company’s stock, valued at approximately $2,655,066.08. The trade was a 1.35% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 9,227 shares of company stock valued at $238,411. 6.63% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. NewEdge Advisors LLC grew its stake in shares of Ouster by 2,532.6% during the second quarter. NewEdge Advisors LLC now owns 1,132 shares of the company’s stock worth $27,000 after purchasing an additional 1,089 shares during the period. Nisa Investment Advisors LLC lifted its stake in Ouster by 153.3% in the second quarter. Nisa Investment Advisors LLC now owns 1,211 shares of the company’s stock valued at $29,000 after buying an additional 733 shares during the period. TD Waterhouse Canada Inc. boosted its holdings in Ouster by 8,823.5% during the second quarter. TD Waterhouse Canada Inc. now owns 1,517 shares of the company’s stock worth $37,000 after buying an additional 1,500 shares during the last quarter. North Capital Inc. grew its position in shares of Ouster by 102.7% during the 2nd quarter. North Capital Inc. now owns 3,000 shares of the company’s stock worth $73,000 after buying an additional 1,520 shares during the period. Finally, Game Plan Financial Advisors LLC increased its stake in shares of Ouster by 400.0% in the 2nd quarter. Game Plan Financial Advisors LLC now owns 3,000 shares of the company’s stock valued at $73,000 after acquiring an additional 2,400 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.