Ouster (NYSE:OUST) Trading Down 9.5% – Time to Sell?

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Oppenheimer reiterated an “outperform” rating and set a $40.00 price objective on shares of Ouster in a research report on Tuesday. Westpark Capital reiterated a “buy” rating and issued a $50.00 price target on shares of Ouster in a research note on Wednesday, November 5th. Rosenblatt Securities restated a “buy” rating and set a $40.00 price objective on shares of Ouster in a research report on Tuesday. Northland Securities set a $38.00 target price on Ouster in a research report on Wednesday, November 5th. Finally, Cantor Fitzgerald set a $33.00 price target on Ouster in a report on Thursday, November 6th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Ouster currently has a consensus rating of “Moderate Buy” and an average price target of $36.17.

Ouster Price Performance

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

Insider Transactions at Ouster

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of OUST. AQR Capital Management LLC increased its stake in Ouster by 610.1% in the first 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. raised its position 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 worth $255,000 after purchasing an additional 2,037 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of Ouster by 153.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,211 shares of the company’s stock worth $29,000 after purchasing an additional 733 shares in the last quarter. Black Swift Group LLC acquired a new stake in Ouster in the 2nd quarter valued at $485,000. Finally, North Capital Inc. grew its position in Ouster by 102.7% in the 2nd quarter. North Capital Inc. now owns 3,000 shares of the company’s stock valued at $73,000 after purchasing an additional 1,520 shares during the period. 31.45% of the stock is owned by institutional investors.

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.