Ouster (NASDAQ:OUST) Share Price Breaks Below 50-Day Moving Average – What’s Next?

Ouster, Inc. (NASDAQ:OUST) 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 traded.

Key Stories Impacting Ouster

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
• Positive Sentiment: A recent report highlighted Ouster’s 50% revenue growth and said its shares rose 17% in the week ended November 6, underscoring investor interest in its growth trajectory. Ouster Stock Surged 17% in the Week Ended November 6 as Revenue Jumped 50%
• 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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Northland Securities set a $60.00 target price on Ouster and gave the company an “outperform” rating in a research report on Tuesday, July 21st. Cantor Fitzgerald upgraded Ouster from a “neutral” rating to an “overweight” rating and set a $45.00 price target for the company in a research report on Wednesday, November 4th. Citigroup reaffirmed an “outperform” rating on shares of Ouster in a research note on Tuesday, July 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ouster in a research report on Tuesday. Finally, Oppenheimer reissued an “outperform” rating on shares of Ouster in a research note on Wednesday, November 4th. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $58.00.

Ouster Stock Down 8.5%

The business has a 50 day moving average price of $35.61 and a 200 day moving average price of $32.83. The stock has a market cap of $2.41 billion, a P/E ratio of -48.52 and a beta of 3.47.

Ouster (NASDAQ:OUST) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $59.33 million for the quarter, compared to the consensus estimate of $56.30 million. On average, research analysts expect that Ouster, Inc. will post -0.97 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CRO Cyrille Jacquemet sold 8,896 shares of the business’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $33.96, for a total transaction of $302,108.16. Following the completion of the sale, the executive directly owned 105,538 shares of the company’s stock, valued at approximately $3,584,070.48. The trade was a 7.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Megan Chung sold 11,484 shares of the company’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $33.96, for a total transaction of $389,996.64. Following the completion of the transaction, the general counsel owned 189,291 shares in the company, valued at approximately $6,428,322.36. The trade was a 5.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 143,037 shares of company stock valued at $5,312,537. Insiders own 5.72% of the company’s stock.

Institutional Investors Weigh In On Ouster

Large investors have recently added to or reduced their stakes in the stock. Kovack Advisors Inc. bought a new position in Ouster in the 3rd quarter worth about $76,000. First Trust Advisors LP raised its stake in shares of Ouster by 22.7% during the third quarter. First Trust Advisors LP now owns 289,332 shares of the company’s stock valued at $11,672,000 after acquiring an additional 53,611 shares in the last quarter. Advisors Asset Management Inc. bought a new stake in shares of Ouster during the third quarter valued at approximately $203,000. Voya Investment Management LLC raised its stake in shares of 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 acquiring an additional 752,042 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in shares of Ouster by 25.6% in the third quarter. Global Retirement Partners LLC now owns 8,150 shares of the company’s stock valued at $329,000 after purchasing an additional 1,662 shares during the period. 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.