Ouster (NYSE:OUST) Trading Down 9.5% – Should You Sell?

Ouster, Inc. (NYSE:OUST)’s share price was down 9.5% during mid-day trading on Thursday . The company traded as low as $20.16 and last traded at $20.25. Approximately 1,606,197 shares traded hands during mid-day trading, a decline of 15% from the average daily volume of 1,890,163 shares. The stock had previously closed at $22.38.

Analyst Ratings Changes

OUST has been the subject of several recent analyst reports. Northland Securities set a $38.00 price target on Ouster in a research note on Wednesday, November 5th. Cantor Fitzgerald set a $33.00 target price on shares of Ouster in a report on Thursday, November 6th. Rosenblatt Securities reiterated a “buy” rating and issued a $40.00 price objective on shares of Ouster in a research note on Tuesday. Oppenheimer reissued an “outperform” rating and issued a $40.00 price target on shares of Ouster in a research note on Tuesday. Finally, Westpark Capital reissued a “buy” rating and issued a $50.00 price target on shares of Ouster in a research report on Wednesday, November 5th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Ouster presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.17.

Ouster Trading Down 7.2%

The company has a market cap of $1.25 billion, a price-to-earnings ratio of -8.08 and a beta of 2.91. The stock has a 50 day moving average price of $22.26 and a two-hundred day moving average price of $25.83.

Insider Transactions at Ouster

In related news, General Counsel Megan Chung sold 5,837 shares of the stock in a transaction on Friday, January 16th. The shares were sold at an average price of $27.24, for a total transaction of $158,999.88. Following the completion of the transaction, the general counsel owned 183,141 shares in the company, valued at approximately $4,988,760.84. This represents a 3.09% 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, Director Ted L. Tewksbury III sold 1,695 shares of the firm’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $21.47, for a total value of $36,391.65. Following the completion of the transaction, the director owned 123,664 shares of the company’s stock, valued at $2,655,066.08. The trade was a 1.35% decrease in their position. The disclosure for this sale is available in the SEC filing. 6.63% of the stock is currently owned by corporate insiders.

Institutional Trading of Ouster

A number of hedge funds have recently made changes to their positions in OUST. Invesco Ltd. grew its position in shares of Ouster by 1,521.8% in the second quarter. Invesco Ltd. now owns 571,662 shares of the company’s stock valued at $13,863,000 after purchasing an additional 536,413 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Ouster by 11.3% during the 3rd quarter. Vanguard Group Inc. now owns 4,720,264 shares of the company’s stock worth $127,683,000 after acquiring an additional 478,372 shares during the period. Handelsbanken Fonder AB lifted its position in shares of Ouster by 130.7% during the 4th quarter. Handelsbanken Fonder AB now owns 715,646 shares of the company’s stock worth $15,479,000 after buying an additional 405,441 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Ouster in the third quarter valued at about $9,193,000. Finally, Squarepoint Ops LLC grew its position in Ouster by 517.5% in the fourth quarter. Squarepoint Ops LLC now owns 401,727 shares of the company’s stock valued at $8,693,000 after acquiring an additional 336,673 shares during the last quarter. 31.45% of the stock is owned by institutional investors and hedge funds.

About Ouster

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.