Ouster (NASDAQ:OUST) Stock Breaks Below 50 Day Moving Average – Here’s What Happened

Ouster, Inc. (NASDAQ:OUST) shares passed below its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $35.61 and traded as low as $32.40. Ouster shares last traded at $33.48, with a volume of 2,640,145 shares trading hands.

Top Ouster Stories

These are some of the OUST stories that stood out recently:

• Positive Sentiment: Indra selected Ouster’s sensors for a tolling deployment covering 3,300 lanes, a sizable application that could support demand for the company’s lidar technology. Indra Selects Ouster Oust Sensors for 3,300-Lane Tolling
• Negative Sentiment: A Seeking Alpha analysis argued that, despite impressive growth, Ouster’s valuation does not yet justify a buy. That caution may weigh on sentiment toward the shares, particularly given the company’s ongoing losses. Ouster: Impressive Growth Still Doesn’t Justify A Buy
• Negative Sentiment: Reports about Nvidia CEO Jensen Huang’s possible ouster triggered a broad selloff in technology stocks. This market-wide risk aversion could add pressure to Ouster, a volatile growth stock, even though the news is not specific to the company. US stocks fall as Huang ouster sends shockwaves through tech

Wall Street Analysts Forecast Growth

A number of research firms have commented on OUST. Northland Securities set a $60.00 price target on Ouster and gave the company an “outperform” rating in a report on Tuesday, July 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ouster in a research note on Tuesday. Cantor Fitzgerald upgraded Ouster from a “neutral” rating to an “overweight” rating and set a $45.00 target price for the company in a research report on Wednesday, November 4th. Rosenblatt Securities reissued a “buy” rating and set a $53.00 target price on shares of Ouster in a research note on Wednesday, November 4th. Finally, Citigroup reissued an “outperform” rating on shares of Ouster in a report on Tuesday, July 21st. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $58.00.

Ouster Stock Down 8.5%

The company has a market capitalization of $2.41 billion, a PE ratio of -48.52 and a beta of 3.47. The company’s 50 day moving average is $35.61 and its two-hundred day moving average is $32.83.

Ouster (NASDAQ:OUST) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.12). Ouster had a negative return on equity of 11.70% and a negative net margin of 20.36%. The company had revenue of $59.33 million during the quarter, compared to analysts’ expectations of $56.30 million. Analysts forecast that Ouster, Inc. will post -0.97 EPS for the current year.

Insider Transactions at Ouster

In other news, Director Stephen Skaggs sold 5,000 shares of Ouster stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $34.00, for a total value of $170,000.00. Following the sale, the director directly owned 56,415 shares of the company’s stock, valued at approximately $1,918,110. The trade was a 8.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Cyrille Jacquemet sold 8,896 shares of the business’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $33.96, for a total value of $302,108.16. Following the completion of the sale, the executive owned 105,538 shares in the company, valued at $3,584,070.48. This represents a 7.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 143,037 shares of company stock valued at $5,312,537. 5.72% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Voya Investment Management LLC raised its stake in Ouster by 6,298.0% during the third quarter. Voya Investment Management LLC now owns 763,983 shares of the company’s stock valued at $30,819,000 after purchasing an additional 752,042 shares in the last quarter. Penn Capital Management Company LLC grew its stake in shares of Ouster by 5.2% in the 3rd quarter. Penn Capital Management Company LLC now owns 689,989 shares of the company’s stock worth $27,885,000 after buying an additional 33,901 shares in the last quarter. Baird Financial Group Inc. purchased a new position in shares of Ouster in the 2nd quarter worth $25,218,000. Aberdeen Group plc purchased a new position in shares of Ouster in the 3rd quarter worth $16,777,000. Finally, Wellington Management Group LLP bought a new stake in shares of Ouster in the 2nd quarter worth about $15,384,000. 31.45% of the stock is owned by hedge funds and other institutional investors.

Ouster Company Profile

Ouster, Inc. develops lidar sensors and software that help machines and infrastructure detect and interpret their surroundings. Its digital lidar products use laser-based sensing to create 3D representations of nearby objects and environments. The company serves customers in areas including industrial automation, robotics, smart infrastructure and automotive applications. Its offerings include lidar sensors and perception software designed to support tasks such as object detection, mapping and navigation.