Ouster (NYSE:OUST) Stock Price Down 5.4% – What’s Next?

Shares of Ouster, Inc. (NYSE:OUST) traded down 5.4% on Wednesday . The stock traded as low as $10.61 and last traded at $10.63. 257,747 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 1,364,402 shares. The stock had previously closed at $11.23.

Analyst Ratings Changes

Several research firms have issued reports on OUST. Westpark Capital began coverage on shares of Ouster in a report on Monday, March 17th. They set a “hold” rating for the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $17.00 target price on shares of Ouster in a research report on Friday, March 21st. Northland Securities started coverage on shares of Ouster in a report on Thursday, December 12th. They issued 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. Finally, Cantor Fitzgerald boosted their target price on shares of Ouster from $10.00 to $11.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $13.33.

Ouster Price Performance

The stock has a market cap of $523.44 million, a PE ratio of -4.08 and a beta of 2.38. The firm’s 50 day moving average price is $9.42 and its two-hundred day moving average price is $9.03.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OUST. Vanguard Group Inc. lifted its stake in Ouster by 4.5% during the fourth quarter. Vanguard Group Inc. now owns 3,634,680 shares of the company’s stock worth $44,416,000 after purchasing an additional 155,736 shares during the last quarter. State Street Corp raised its holdings in shares of Ouster by 2.4% during the 3rd quarter. State Street Corp now owns 1,649,540 shares of the company’s stock valued at $10,392,000 after buying an additional 37,926 shares in the last quarter. Penn Capital Management Company LLC lifted its position in Ouster by 27.4% in the 4th quarter. Penn Capital Management Company LLC now owns 1,094,528 shares of the company’s stock worth $13,375,000 after buying an additional 235,563 shares during the last quarter. Geode Capital Management LLC boosted its stake in Ouster by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 1,022,274 shares of the company’s stock worth $12,495,000 after buying an additional 46,867 shares in the last quarter. Finally, New York State Common Retirement Fund grew its position in Ouster by 25.8% during the fourth quarter. New York State Common Retirement Fund now owns 759,491 shares of the company’s stock valued at $9,281,000 after acquiring an additional 155,640 shares during the last quarter. 31.45% of the stock is currently owned by hedge funds and other 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.