Ouster Inc. (OUST) shares plummeted 5.34% in early trading on Monday, as the stock reacted to a recent analyst downgrade.
The decline followed news that President Capital downgraded Ouster to Neutral from Buy and adjusted its price target to $35 from $31. This shift in analyst sentiment appears to have contributed to the negative price movement, despite the company maintaining an average buy rating with a mean price target of $37 according to analysts polled by FactSet.
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