Ouster (NYSE:OUST) Trading Down 2.8% – Should You Sell?

Ouster, Inc. (NYSE:OUST) shares fell 2.8% during mid-day trading on Thursday . The company traded as low as $12.44 and last traded at $12.45. 130,825 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 1,201,153 shares. The stock had previously closed at $12.81.

Wall Street Analysts Forecast Growth

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

Ouster Stock Up 4.6 %

The company has a market cap of $666.93 million, a PE ratio of -5.21 and a beta of 2.50. The business’s fifty day moving average is $9.09 and its 200-day moving average is $9.19.

Insider Buying and Selling at Ouster

In other news, CFO Mark Weinswig sold 31,397 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $8.72, for a total value of $273,781.84. Following the completion of the sale, the chief financial officer now directly owns 198,650 shares in the company, valued at $1,732,228. The trade was a 13.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Megan Chung sold 13,671 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $9.69, for a total value of $132,471.99. Following the completion of the transaction, the general counsel now owns 149,647 shares of the company’s stock, valued at $1,450,079.43. The trade was a 8.37 % 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 valued at $748,620 in the last ninety days. Corporate insiders own 7.81% of the company’s stock.

Institutional Trading of Ouster

A number of large investors have recently bought and sold shares of the business. Van ECK Associates Corp raised its holdings 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 acquiring an additional 1,608 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Ouster in the second quarter worth about $27,000. Ballentine Partners LLC bought a new position in Ouster during the second quarter worth $101,000. Stoneridge Investment Partners LLC acquired a new stake in Ouster during the third quarter worth about $67,000. Finally, True North Advisors LLC acquired a new position in shares of Ouster during the third quarter worth approximately $78,000. 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.