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

Ouster, Inc. (NYSE:OUST)’s stock price 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.

Analysts Set New Price Targets

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

Ouster Stock Performance

The stock has a market capitalization of $528.57 million, a P/E ratio of -4.13 and a beta of 2.38. The business has a fifty day simple moving average of $9.40 and a 200-day simple moving average of $9.04.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Squarepoint Ops LLC increased its stake in Ouster by 146.2% in the fourth quarter. Squarepoint Ops LLC now owns 127,082 shares of the company’s stock valued at $1,553,000 after purchasing an additional 75,470 shares in the last quarter. ProShare Advisors LLC increased its position in Ouster by 52.4% in the 4th quarter. ProShare Advisors LLC now owns 21,136 shares of the company’s stock valued at $258,000 after buying an additional 7,267 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Ouster by 10.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,307 shares of the company’s stock worth $321,000 after buying an additional 2,542 shares during the period. Graham Capital Management L.P. boosted its holdings in Ouster by 10.1% in the fourth quarter. Graham Capital Management L.P. now owns 63,228 shares of the company’s stock worth $773,000 after acquiring an additional 5,787 shares in the last quarter. Finally, Deutsche Bank AG grew its stake in Ouster by 30.8% in the fourth quarter. Deutsche Bank AG now owns 31,137 shares of the company’s stock valued at $380,000 after acquiring an additional 7,329 shares during the period. 31.45% of the stock is owned by institutional investors.

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.