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

Ouster, Inc. (NYSE:OUST - Get Free Report) 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.

Analyst Ratings Changes

Several equities analysts have weighed in on OUST shares. Northland Capmk raised shares of Ouster to a "strong-buy" rating in a report on Thursday, December 12th. Northland Securities initiated coverage on shares of Ouster in a report on Thursday, December 12th. They issued an "outperform" rating and a $14.00 target price for the company. Westpark Capital initiated coverage on Ouster in a report on Monday, March 17th. They set a "hold" rating on the stock. Oppenheimer assumed coverage on Ouster in a research note on Thursday. They issued an "outperform" rating and a $16.00 price objective for the company. Finally, Cantor Fitzgerald lifted their target price on Ouster from $10.00 to $11.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $13.71.

Ouster Stock Down 4.4 %

The stock has a market capitalization of $474.82 million, a P/E ratio of -3.71 and a beta of 2.38. The company has a fifty day moving average price of $9.36 and a 200-day moving average price of $9.07.

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Insider Buying and Selling at Ouster

In other news, General Counsel Megan Chung sold 5,800 shares of the business's stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $11.24, for a total value of $65,192.00. Following the sale, the general counsel now directly owns 220,762 shares in the company, valued at $2,481,364.88. The trade was a 2.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold 9,099 shares of company stock worth $90,460 in the last quarter. 7.81% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Daiwa Securities Group Inc. raised its position in Ouster by 18.0% during the fourth quarter. Daiwa Securities Group Inc. now owns 6,977 shares of the company's stock valued at $85,000 after purchasing an additional 1,063 shares during the period. AlphaQuest LLC increased its position in shares of Ouster by 916.0% during the 4th quarter. AlphaQuest LLC now owns 8,270 shares of the company's stock valued at $101,000 after purchasing an additional 7,456 shares during the last quarter. ExodusPoint Capital Management LP purchased a new stake in Ouster during the 4th quarter valued at $154,000. Intech Investment Management LLC bought a new stake in Ouster in the third quarter worth $81,000. Finally, SVB Wealth LLC purchased a new position in Ouster during the fourth quarter worth $163,000. Hedge funds and other institutional investors own 31.45% of the company's stock.

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.