Ouster (NYSE:OUST) Shares Gap Down – Should You Sell?

Shares of Ouster, Inc. (NYSE:OUST) gapped down before the market opened 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 traded.

Analysts Set New Price Targets

OUST has been the subject of a number of research analyst reports. Northland Capmk upgraded Ouster to a “strong-buy” rating in a report on Thursday, December 12th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Ouster in a report on Friday, November 8th. Cantor Fitzgerald raised Ouster from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $12.00 to $10.00 in a report on Monday, November 11th. Finally, Northland Securities began coverage on shares of Ouster in a research note on Thursday, December 12th. They issued an “outperform” rating and a $14.00 price target on the stock. 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $13.17.

Ouster Price Performance

The company has a market cap of $563.41 million, a P/E ratio of -4.40 and a beta of 2.39. The stock has a 50-day moving average of $10.32 and a 200 day moving average of $9.40.

Insiders Place Their Bets

In other Ouster news, CEO Charles Angus Pacala acquired 50,954 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average cost of $9.79 per share, for a total transaction of $498,839.66. Following the transaction, the chief executive officer now directly owns 769,957 shares in the company, valued at $7,537,879.03. This represents a 7.09 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Mark Frichtl bought 5,045 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was acquired at an average price of $9.78 per share, for a total transaction of $49,340.10. Following the transaction, the chief technology officer now owns 513,121 shares of the company’s stock, valued at approximately $5,018,323.38. The trade was a 0.99 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 80,415 shares of company stock worth $748,620 over the last ninety days. Corporate insiders own 7.81% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in OUST. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Ouster during the 2nd quarter worth approximately $27,000. Van ECK Associates Corp grew its stake in shares of Ouster by 28.4% during the third quarter. Van ECK Associates Corp now owns 7,264 shares of the company’s stock worth $46,000 after buying an additional 1,608 shares during the last quarter. Stoneridge Investment Partners LLC acquired a new position in shares of Ouster during the third quarter worth $67,000. True North Advisors LLC bought a new position in shares of Ouster in the 3rd quarter valued at $78,000. Finally, Intech Investment Management LLC bought a new stake in Ouster during the 3rd quarter worth $81,000. Institutional investors own 31.45% of the company’s stock.

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.