Ouster (NASDAQ:OUST) Shares Gap Down – Should You Sell?

Ouster, Inc. (NASDAQ:OUST)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $48.13, but opened at $45.09. Ouster shares last traded at $44.3480, with a volume of 815,122 shares traded.

Analysts Set New Price Targets

A number of research firms recently weighed in on OUST. Citigroup restated an “outperform” rating on shares of Ouster in a research note on Tuesday, July 21st. Cantor Fitzgerald cut shares of Ouster from an “overweight” rating to a “neutral” rating in a report on Thursday, May 7th. Oppenheimer reissued an “outperform” rating and issued a $57.00 price objective (up from $42.00) on shares of Ouster in a research report on Wednesday, July 15th. Rosenblatt Securities restated a “buy” rating and issued a $53.00 price objective on shares of Ouster in a report on Friday, August 7th. Finally, Roth Capital initiated coverage on shares of Ouster in a research report on Friday, May 29th. They set a “buy” rating and a $75.00 price objective for the company. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $54.67.

Ouster Price Performance

The firm has a 50 day moving average of $43.18 and a two-hundred day moving average of $31.81. The stock has a market cap of $2.89 billion, a PE ratio of -46.58 and a beta of 3.24.

Ouster (NASDAQ:OUST) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.14). The company had revenue of $54.63 million during the quarter, compared to analysts’ expectations of $51.47 million. Ouster had a negative net margin of 26.02% and a negative return on equity of 17.49%. As a group, equities analysts anticipate that Ouster, Inc. will post -1.08 EPS for the current fiscal year.

Insider Activity at Ouster

In other news, CTO Mark Frichtl sold 308,742 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $41.53, for a total value of $12,822,055.26. Following the completion of the sale, the chief technology officer directly owned 294,924 shares of the company’s stock, valued at approximately $12,248,193.72. This represents a 51.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Darien Spencer sold 30,000 shares of Ouster stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $45.00, for a total transaction of $1,350,000.00. Following the completion of the transaction, the chief operating officer directly owned 299,806 shares in the company, valued at $13,491,270. The trade was a 9.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 584,688 shares of company stock valued at $24,071,195. Corporate insiders own 5.72% of the company’s stock.

Institutional Investors Weigh In On Ouster

Large investors have recently modified their holdings of the stock. NewEdge Advisors LLC raised its position in Ouster by 2,532.6% during the 2nd quarter. NewEdge Advisors LLC now owns 1,132 shares of the company’s stock worth $27,000 after buying an additional 1,089 shares during the last quarter. Larson Financial Group LLC boosted its holdings in Ouster by 118.8% in the 4th quarter. Larson Financial Group LLC now owns 1,965 shares of the company’s stock valued at $43,000 after purchasing an additional 1,067 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in Ouster during the 2nd quarter worth approximately $150,000. Van ECK Associates Corp raised its stake 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 in the last quarter. Finally, Wealthcare Advisory Partners LLC purchased a new stake in shares of Ouster in the second quarter valued at approximately $230,000. Hedge funds and other 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.