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

Shares of Ouster, Inc. (NYSE:OUST) gapped down before the market opened on Wednesday . The stock had previously closed at $28.60, but opened at $26.50. Ouster shares last traded at $26.3820, with a volume of 1,518,576 shares.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on OUST shares. Oppenheimer reissued an “outperform” rating and set a $40.00 price target on shares of Ouster in a research report on Tuesday, March 3rd. Rosenblatt Securities reissued a “buy” rating and issued a $40.00 target price on shares of Ouster in a research report on Tuesday, March 3rd. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $40.20.

Ouster Stock Up 2.8%

The stock has a market cap of $1.85 billion, a P/E ratio of -11.44 and a beta of 3.06. The firm’s 50 day simple moving average is $21.95 and its two-hundred day simple moving average is $23.48.

Insider Activity

In related news, Director Stephen A. Skaggs sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $28.00, for a total value of $140,000.00. Following the sale, the director owned 66,690 shares of the company’s stock, valued at approximately $1,867,320. This trade represents a 6.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Charles Angus Pacala sold 24,657 shares of the company’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $23.43, for a total value of $577,713.51. Following the transaction, the chief executive officer owned 960,660 shares of the company’s stock, valued at approximately $22,508,263.80. The trade was a 2.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 263,809 shares of company stock valued at $6,333,722 over the last quarter. Corporate insiders own 6.63% of the company’s stock.

Hedge Funds Weigh In On Ouster

Several hedge funds and other institutional investors have recently modified their holdings of the company. NewEdge Advisors LLC grew its position 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 acquiring an additional 1,089 shares during the last quarter. Larson Financial Group LLC boosted its stake in Ouster by 118.8% during the 4th quarter. Larson Financial Group LLC now owns 1,965 shares of the company’s stock valued at $43,000 after purchasing an additional 1,067 shares during the period. Gordian Capital Singapore Pte Ltd grew its position in Ouster by 38.1% in the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 2,900 shares of the company’s stock worth $78,000 after purchasing an additional 800 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Ouster by 17.1% in the third quarter. Van ECK Associates Corp now owns 3,590 shares of the company’s stock valued at $97,000 after purchasing an additional 525 shares during the period. Finally, Banque Cantonale Vaudoise bought a new stake in shares of Ouster during the third quarter valued at approximately $120,000. 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.