Ouster (NYSE:OUST) Shares Gap Down – Time to Sell?

Ouster, Inc. (NYSE:OUST)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $14.61, but opened at $13.66. Ouster shares last traded at $12.74, with a volume of 490,052 shares trading hands.

Analyst Ratings Changes

A number of research firms have weighed in on OUST. Northland Capmk raised shares of Ouster to a “strong-buy” rating in a research note on Thursday, December 12th. Northland Securities began coverage on Ouster in a research note on Thursday, December 12th. They set an “outperform” rating and a $14.00 price target on the stock. Cantor Fitzgerald raised Ouster from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $12.00 to $10.00 in a research note on Monday, November 11th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $17.00 target price on shares of Ouster in a research report on Friday, November 8th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $13.17.

Ouster Stock Performance

The stock has a market cap of $612.68 million, a P/E ratio of -4.79 and a beta of 2.39. The firm’s fifty day simple moving average is $10.08 and its 200-day simple moving average is $9.35.

Insider Buying and Selling at Ouster

In related news, CEO Charles Angus Pacala acquired 50,954 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were purchased at an average price of $9.79 per share, for a total transaction of $498,839.66. Following the completion of the acquisition, the chief executive officer now owns 769,957 shares of the company’s stock, valued at approximately $7,537,879.03. This trade represents a 7.09 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Mark Frichtl bought 5,045 shares of Ouster stock in a transaction dated Thursday, December 12th. The stock was purchased at an average price of $9.78 per share, with a total value of $49,340.10. Following the completion of the purchase, the chief technology officer now owns 513,121 shares in the company, valued at $5,018,323.38. This trade represents a 0.99 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 80,415 shares of company stock valued at $748,620. 7.81% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ouster

A number of institutional investors have recently modified their holdings of the company. Barclays PLC lifted its stake in Ouster by 280.6% during the 3rd quarter. Barclays PLC now owns 57,330 shares of the company’s stock valued at $361,000 after acquiring an additional 42,267 shares in the last quarter. Geode Capital Management LLC increased its stake in Ouster by 6.8% in the 3rd quarter. Geode Capital Management LLC now owns 975,407 shares of the company’s stock valued at $6,146,000 after buying an additional 62,202 shares during the last quarter. State Street Corp lifted its holdings in Ouster by 2.4% during the third quarter. State Street Corp now owns 1,649,540 shares of the company’s stock worth $10,392,000 after acquiring an additional 37,926 shares during the period. Stifel Financial Corp boosted its position in Ouster by 286.7% in the third quarter. Stifel Financial Corp now owns 59,718 shares of the company’s stock worth $376,000 after purchasing an additional 44,275 shares during the last quarter. Finally, Centiva Capital LP purchased a new stake in shares of Ouster during the 3rd quarter valued at $167,000. 31.45% of the stock is owned by institutional investors and hedge funds.

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.