Ouster (NYSE:OUST) Trading Down 5.9% – Should You Sell?

Ouster, Inc. (NYSE:OUST) fell 5.9% during mid-day trading on Friday . The stock traded as low as $25.70 and last traded at $25.6280. 233,996 shares were traded during mid-day trading, a decline of 88% from the average session volume of 1,933,997 shares. The stock had previously closed at $27.24.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Northland Securities set a $38.00 price target on Ouster in a report on Wednesday, November 5th. Oppenheimer reissued an “outperform” rating on shares of Ouster in a report on Thursday, December 4th. Cantor Fitzgerald set a $33.00 target price on Ouster in a research note on Thursday, November 6th. Westpark Capital reiterated a “buy” rating and issued a $50.00 target price on shares of Ouster in a research note on Wednesday, November 5th. Finally, Zacks Research lowered Ouster from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 13th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Ouster presently has a consensus rating of “Moderate Buy” and an average price target of $32.17.

Ouster Stock Down 7.3%

The firm’s 50 day simple moving average is $23.66 and its 200 day simple moving average is $27.08. The company has a market cap of $1.52 billion, a price-to-earnings ratio of -9.84 and a beta of 2.93.

Insider Buying and Selling

In related news, General Counsel Megan Chung sold 5,837 shares of Ouster stock in a transaction on Friday, January 16th. The stock was sold at an average price of $27.24, for a total value of $158,999.88. Following the transaction, the general counsel directly owned 183,141 shares in the company, valued at $4,988,760.84. The trade was a 3.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ted L. Tewksbury III sold 1,695 shares of the business’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $21.47, for a total transaction of $36,391.65. Following the sale, the director directly owned 123,664 shares in the company, valued at approximately $2,655,066.08. This trade represents a 1.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 9,227 shares of company stock valued at $238,411 over the last 90 days. 6.63% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ouster

A number of institutional investors have recently modified their holdings of OUST. Van ECK Associates Corp boosted its holdings in shares of Ouster by 17.1% during the 3rd quarter. Van ECK Associates Corp now owns 3,590 shares of the company’s stock worth $97,000 after buying an additional 525 shares during the period. Corient Private Wealth LLC lifted its position in Ouster by 5.5% during the 2nd quarter. Corient Private Wealth LLC now owns 11,554 shares of the company’s stock worth $280,000 after acquiring an additional 599 shares during the last quarter. Prosperity Wealth Management Inc. boosted its holdings in Ouster by 5.5% during the third quarter. Prosperity Wealth Management Inc. now owns 13,000 shares of the company’s stock valued at $352,000 after acquiring an additional 675 shares during the period. Creative Planning grew its position in shares of Ouster by 1.6% in the third quarter. Creative Planning now owns 43,681 shares of the company’s stock valued at $1,182,000 after purchasing an additional 677 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in Ouster by 1.4% in the 3rd quarter. Alliancebernstein L.P. now owns 50,800 shares of the company’s stock worth $1,374,000 after buying an additional 700 shares during the period. Institutional investors own 31.45% of the company’s stock.

Ouster Company Profile

Ouster, Inc is a leading provider of high-resolution digital lidar sensors, software and services designed to enable advanced perception capabilities across a range of industries. Headquartered in San Francisco, California, the company develops modular lidar solutions that capture precise three-dimensional data in real time, supporting applications from autonomous vehicles and robotics to mapping, smart infrastructure and industrial automation.

The company’s core product lineup features multi-beam digital lidar units available in various form factors, including compact models for robotics and drones and larger units for automotive and mapping systems.