Ouster (NYSE:OUST) Shares Gap Down – What’s Next?

Ouster, Inc. (NYSE:OUST)’s stock price gapped down prior to trading 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 traded.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on OUST shares. Cantor Fitzgerald increased their price objective on Ouster from $10.00 to $11.00 and gave the company an “overweight” rating in a research note on Friday. Northland Securities assumed coverage on shares of Ouster in a research report on Thursday, December 12th. They set an “outperform” rating and a $14.00 price target on the stock. Northland Capmk upgraded shares of Ouster to a “strong-buy” rating in a report on Thursday, December 12th. Westpark Capital initiated coverage on Ouster in a research report on Monday, March 17th. They issued a “hold” rating for the company. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $17.00 price objective on shares of Ouster in a research report on Friday. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Ouster presently has a consensus rating of “Moderate Buy” and an average target price of $13.33.

Ouster Price Performance

The stock’s 50 day moving average is $9.41 and its two-hundred day moving average is $8.99. The stock has a market capitalization of $545.44 million, a PE ratio of -4.26 and a beta of 2.38.

Hedge Funds Weigh In On Ouster

A number of institutional investors and hedge funds have recently modified their holdings of the company. EVR Research LP purchased a new stake in Ouster during the 4th quarter worth about $5,343,000. Trexquant Investment LP lifted its stake in Ouster by 113.9% during the fourth quarter. Trexquant Investment LP now owns 602,448 shares of the company’s stock worth $7,362,000 after purchasing an additional 320,742 shares during the last quarter. Penn Capital Management Company LLC boosted its holdings in Ouster by 27.4% in the fourth quarter. Penn Capital Management Company LLC now owns 1,094,528 shares of the company’s stock valued at $13,375,000 after purchasing an additional 235,563 shares in the last quarter. Manatuck Hill Partners LLC acquired a new position in shares of Ouster in the 4th quarter valued at $2,566,000. Finally, Vanguard Group Inc. raised its stake in Ouster by 4.5% during the 4th quarter. Vanguard Group Inc. now owns 3,634,680 shares of the company’s stock worth $44,416,000 after acquiring an additional 155,736 shares in the last quarter. Institutional investors and hedge funds 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.