Ouster (NASDAQ:OUST) Shares Down 11.6% – Time to Sell?

Ouster, Inc. (NASDAQ:OUST)’s share price was down 11.6% during trading on Tuesday . The company traded as low as $42.55 and last traded at $44.06. 6,001,146 shares were traded during mid-day trading, an increase of 84% from the average daily volume of 3,252,846 shares. The stock had previously closed at $49.83.

Wall Street Analyst Weigh In

Several analysts recently weighed in on OUST shares. Cantor Fitzgerald lowered Ouster from an “overweight” rating to a “neutral” rating in a report on Thursday, May 7th. Rosenblatt Securities lifted their price objective on shares of Ouster from $40.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. 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 on the stock. Finally, Weiss Ratings assumed coverage on shares of Ouster in a report on Friday, May 15th. They issued a “sell (d-)” rating for the company. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Ouster presently has an average rating of “Hold” and a consensus target price of $48.17.

Ouster Stock Up 9.6%

The business has a 50 day moving average price of $39.83 and a 200 day moving average price of $28.35. The stock has a market cap of $2.99 billion, a P/E ratio of -48.76 and a beta of 3.17.

Ouster (NASDAQ:OUST) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.16). The business had revenue of $48.58 million for the quarter, compared to the consensus estimate of $46.15 million. Ouster had a negative return on equity of 21.49% and a negative net margin of 30.12%.During the same period in the prior year, the business posted ($0.42) earnings per share. On average, research analysts expect that Ouster, Inc. will post -1.05 earnings per share for the current fiscal year.

Insider Activity

In other news, CRO Cyrille Jacquemet sold 9,433 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $40.00, for a total value of $377,320.00. Following the transaction, the executive directly owned 123,158 shares in the company, valued at approximately $4,926,320. This represents a 7.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ted L. Tewksbury III sold 1,695 shares of Ouster stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $47.00, for a total transaction of $79,665.00. Following the sale, the director owned 124,999 shares of the company’s stock, valued at $5,874,953. The trade was a 1.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 910,591 shares of company stock valued at $32,578,780. Insiders own 5.72% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC raised its holdings in shares of Ouster by 610.1% in the 1st quarter. AQR Capital Management LLC now owns 296,311 shares of the company’s stock valued at $2,661,000 after purchasing an additional 254,580 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Ouster by 7.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,344 shares of the company’s stock valued at $255,000 after purchasing an additional 2,037 shares in the last quarter. Legal & General Group Plc increased its holdings in Ouster by 138.2% during the second quarter. Legal & General Group Plc now owns 9,990 shares of the company’s stock valued at $242,000 after buying an additional 5,796 shares during the period. American Century Companies Inc. increased its holdings in Ouster by 22.0% during the second quarter. American Century Companies Inc. now owns 63,298 shares of the company’s stock valued at $1,535,000 after buying an additional 11,416 shares during the period. Finally, Invesco Ltd. increased its holdings in Ouster by 1,521.8% during the second quarter. Invesco Ltd. now owns 571,662 shares of the company’s stock valued at $13,863,000 after buying an additional 536,413 shares during the period. Institutional investors own 31.45% of the company’s stock.

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.