Ouster (NASDAQ:OUST) Shares Down 5.5% – Here’s Why

Shares of Ouster, Inc. (NASDAQ:OUST) traded down 5.5% on Monday . The company traded as low as $35.05 and last traded at $34.9920. 1,272,118 shares changed hands during trading, a decline of 61% from the average daily volume of 3,292,623 shares. The stock had previously closed at $37.04.

Wall Street Analyst Weigh In

A number of research firms have commented on OUST. Weiss Ratings began coverage on shares of Ouster in a research note on Friday, May 15th. They set a “sell (d-)” rating on the stock. Roth Capital began coverage on Ouster in a report on Friday, May 29th. They set a “buy” rating and a $75.00 price target on the stock. Cantor Fitzgerald downgraded Ouster from an “overweight” rating to a “neutral” rating in a research report on Thursday, May 7th. Oppenheimer reiterated an “outperform” rating and set a $57.00 target price (up from $42.00) on shares of Ouster in a research report on Wednesday, July 15th. Finally, Rosenblatt Securities boosted their price target on Ouster from $40.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Ouster currently has a consensus rating of “Hold” and an average target price of $51.00.

Ouster Stock Down 4.0%

The company has a market cap of $2.23 billion, a PE ratio of -36.79 and a beta of 3.17. The stock’s 50 day moving average is $41.76 and its 200-day moving average is $29.25.

Ouster (NASDAQ:OUST) last posted its earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.16). The business had revenue of $48.58 million during 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 quarter last year, the firm earned ($0.42) earnings per share. On average, analysts anticipate that Ouster, Inc. will post -1.03 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 on Tuesday, May 26th. The shares were sold at an average price of $41.53, for a total value of $12,822,055.26. Following the sale, the chief technology officer 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Charles Angus Pacala sold 29,797 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $38.82, for a total transaction of $1,156,719.54. Following the completion of the sale, the chief executive officer owned 1,072,201 shares of the company’s stock, valued at $41,622,842.82. This trade represents a 2.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 754,754 shares of company stock worth $28,694,907 in the last ninety days. Corporate insiders own 5.72% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Van ECK Associates Corp raised its stake in Ouster by 17.1% in the third 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. Main Management ETF Advisors LLC raised its position in shares of Ouster by 1.0% in the 4th quarter. Main Management ETF Advisors LLC now owns 54,810 shares of the company’s stock worth $1,186,000 after acquiring an additional 560 shares in the last quarter. Corient Private Wealth LLC lifted its stake in shares of Ouster by 5.5% during the 2nd quarter. Corient Private Wealth LLC now owns 11,554 shares of the company’s stock worth $280,000 after purchasing an additional 599 shares during the last quarter. Prosperity Wealth Management Inc. boosted its position in Ouster by 5.5% during the third quarter. Prosperity Wealth Management Inc. now owns 13,000 shares of the company’s stock valued at $352,000 after purchasing an additional 675 shares in the last quarter. Finally, Creative Planning boosted its position in Ouster by 1.6% during the third quarter. Creative Planning now owns 43,681 shares of the company’s stock valued at $1,182,000 after purchasing an additional 677 shares in the last quarter. 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.