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

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Northland Securities assumed coverage on Ouster in a report on Thursday, December 12th. They set an “outperform” rating and a $14.00 target price on the stock. Cantor Fitzgerald upgraded Ouster from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $12.00 to $10.00 in a report on Monday, November 11th. Northland Capmk raised Ouster to a “strong-buy” rating in a research note on Thursday, December 12th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $17.00 price target on shares of Ouster in a research note on Friday, November 8th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $13.17.

Ouster Stock Performance

The stock has a 50-day moving average of $10.32 and a 200-day moving average of $9.40. The firm has a market cap of $563.41 million, a price-to-earnings ratio of -4.40 and a beta of 2.39.

Insider Buying and Selling at Ouster

In other Ouster news, CFO Mark Weinswig sold 31,397 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $8.72, for a total transaction of $273,781.84. Following the sale, the chief financial officer now directly owns 198,650 shares of the company’s stock, valued at approximately $1,732,228. This represents a 13.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Charles Angus Pacala purchased 50,954 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was purchased at an average price of $9.79 per share, with a total value of $498,839.66. Following the purchase, the chief executive officer now owns 769,957 shares of the company’s stock, valued at approximately $7,537,879.03. The trade was a 7.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have sold 80,415 shares of company stock worth $748,620. Insiders own 7.81% of the company’s stock.

Institutional Investors Weigh In On Ouster

A number of institutional investors and hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp acquired a new position in Ouster during the second quarter worth approximately $1,305,000. Rhumbline Advisers acquired a new position in shares of Ouster during the 2nd quarter worth approximately $598,000. Ballentine Partners LLC bought a new stake in Ouster in the 2nd quarter valued at $101,000. American Century Companies Inc. lifted its holdings in Ouster by 38.5% during the 2nd quarter. American Century Companies Inc. now owns 45,615 shares of the company’s stock valued at $448,000 after purchasing an additional 12,691 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Ouster in the second quarter valued at $1,217,000. 31.45% of the stock is owned by institutional investors.

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.