Ouster (NYSE:OUST) Trading Down 7.6% – Time to Sell?

Ouster, Inc. (NYSE:OUST)’s stock price dropped 7.6% during trading on Friday . The stock traded as low as $11.60 and last traded at $11.64. Approximately 427,818 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 2,058,398 shares. The stock had previously closed at $12.60.

Analysts Set New Price Targets

OUST has been the subject of a number of analyst reports. Cantor Fitzgerald raised Ouster from a “neutral” rating to an “overweight” rating and reduced their price target for the company from $12.00 to $10.00 in a report on Monday, November 11th. Northland Securities began coverage on shares of Ouster in a research report on Thursday, December 12th. They set an “outperform” rating and a $14.00 price target for the company. Rosenblatt Securities restated a “buy” rating and issued a $17.00 price target on shares of Ouster in a research note on Friday, November 8th. Finally, Northland Capmk upgraded shares of Ouster to a “strong-buy” rating in a research note on Thursday, December 12th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $13.17.

Ouster Stock Performance

The stock has a fifty day moving average price of $10.40 and a two-hundred day moving average price of $9.41. The firm has a market capitalization of $563.41 million, a P/E ratio of -4.40 and a beta of 2.39.

Insider Buying and Selling at Ouster

In related news, CEO Charles Angus Pacala acquired 50,954 shares of Ouster stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average price of $9.79 per share, for a total transaction of $498,839.66. Following the transaction, the chief executive officer now directly owns 769,957 shares of the company’s stock, valued at $7,537,879.03. This trade represents a 7.09 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Darien Spencer sold 14,869 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $9.69, for a total value of $144,080.61. Following the transaction, the chief operating officer now owns 291,718 shares of the company’s stock, valued at approximately $2,826,747.42. The trade was a 4.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 80,415 shares of company stock worth $748,620 over the last 90 days. Insiders own 7.81% of the company’s stock.

Hedge Funds Weigh In On Ouster

Several hedge funds and other institutional investors have recently modified their holdings of the company. Van ECK Associates Corp lifted its position in Ouster by 28.4% in the 3rd quarter. Van ECK Associates Corp now owns 7,264 shares of the company’s stock valued at $46,000 after purchasing an additional 1,608 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Ouster during the second quarter valued at approximately $27,000. Stoneridge Investment Partners LLC acquired a new position in shares of Ouster during the third quarter worth approximately $67,000. True North Advisors LLC bought a new position in Ouster in the 3rd quarter worth approximately $78,000. Finally, American Century Companies Inc. increased its position in Ouster by 38.5% in the 2nd quarter. American Century Companies Inc. now owns 45,615 shares of the company’s stock valued at $448,000 after acquiring an additional 12,691 shares during the period. Institutional investors and hedge funds own 31.45% of the company’s stock.

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.