Ouster (NYSE:OUST) Shares Gap Down to $12.38

Ouster, Inc. (NYSE:OUST) gapped down before the market opened on Wednesday . The stock had previously closed at $12.38, but opened at $12.05. Ouster shares last traded at $11.97, with a volume of 124,659 shares trading hands.

Analysts Set New Price Targets

OUST has been the topic of several recent research reports. Rosenblatt Securities raised their target price on Ouster from $12.00 to $17.00 and gave the company a “buy” rating in a report on Friday, May 10th. Craig Hallum lifted their price objective on Ouster from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Cantor Fitzgerald lowered Ouster from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $8.00 to $13.00 in a research note on Wednesday. Finally, Chardan Capital reiterated a “neutral” rating and issued a $10.00 price objective on shares of Ouster in a research note on Wednesday, April 3rd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Ouster has an average rating of “Hold” and a consensus price target of $12.10.

Ouster Trading Down 3.9 %

The firm has a market capitalization of $538.12 million, a price-to-earnings ratio of -2.11 and a beta of 2.40. The business has a 50-day moving average of $8.48 and a two-hundred day moving average of $6.78. The company has a quick ratio of 2.83, a current ratio of 3.09 and a debt-to-equity ratio of 0.26.

Ouster (NYSE:OUST) last released its earnings results on Tuesday, March 26th. The company reported ($0.95) earnings per share for the quarter. The firm had revenue of $24.44 million for the quarter. Ouster had a negative return on equity of 88.42% and a negative net margin of 239.89%. Research analysts predict that Ouster, Inc. will post -3.54 EPS for the current fiscal year.

Insider Buying and Selling at Ouster

In other news, CFO Mark Weinswig sold 19,990 shares of Ouster stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $9.35, for a total value of $186,906.50. Following the completion of the transaction, the chief financial officer now owns 236,800 shares in the company, valued at $2,214,080. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Mark Weinswig sold 19,990 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $9.35, for a total value of $186,906.50. Following the completion of the transaction, the chief financial officer now owns 236,800 shares in the company, valued at approximately $2,214,080. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Megan Chung sold 5,776 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $7.96, for a total transaction of $45,976.96. Following the sale, the general counsel now owns 163,966 shares of the company’s stock, valued at approximately $1,305,169.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,986 shares of company stock valued at $290,359. 6.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ouster

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Daiwa Securities Group Inc. acquired a new position in shares of Ouster during the 4th quarter worth about $70,000. International Assets Investment Management LLC boosted its stake in shares of Ouster by 667.0% during the 4th quarter. International Assets Investment Management LLC now owns 9,894 shares of the company’s stock worth $76,000 after buying an additional 8,604 shares during the last quarter. Psagot Value Holdings Ltd. Israel acquired a new position in shares of Ouster during the 4th quarter worth about $76,000. Bison Wealth LLC acquired a new position in shares of Ouster during the 4th quarter worth about $79,000. Finally, Lake Street Advisors Group LLC acquired a new position in shares of Ouster during the 1st quarter worth about $79,000. 31.45% of the stock is owned by institutional investors and hedge funds.

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.