Ouster (NYSE:OUST) Shares Down 6.7% – Should You Sell?

Ouster, Inc. (NYSE:OUST)’s share price traded down 6.7% during mid-day trading on Monday . The company traded as low as $26.62 and last traded at $26.0030. 299,861 shares were traded during trading, a decline of 85% from the average session volume of 1,955,706 shares. The stock had previously closed at $27.87.

Analyst Upgrades and Downgrades

OUST has been the topic of a number of recent analyst reports. 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. Northland Securities set a $38.00 target price on shares of Ouster in a research report on Wednesday, November 5th. Zacks Research downgraded Ouster from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. Oppenheimer reissued an “outperform” rating on shares of Ouster in a research report on Thursday, December 4th. Finally, Cantor Fitzgerald set a $33.00 target price on Ouster in a report on Thursday, November 6th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.17.

Ouster Stock Up 2.4%

The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of -10.80 and a beta of 2.93. The business has a 50-day moving average of $23.46 and a two-hundred day moving average of $26.96.

Insider Activity at Ouster

In other Ouster news, General Counsel Megan Chung sold 5,837 shares of Ouster stock in a transaction on Friday, October 17th. The shares were sold at an average price of $31.02, for a total transaction of $181,063.74. Following the sale, the general counsel owned 197,199 shares in the company, valued at $6,117,112.98. The trade was a 2.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ted L. Tewksbury III sold 1,695 shares of the business’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $21.47, for a total transaction of $36,391.65. Following the completion of the sale, the director directly owned 123,664 shares in the company, valued at $2,655,066.08. This trade represents a 1.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 9,227 shares of company stock worth $260,474 in the last three months. 6.63% of the stock is owned by insiders.

Institutional Trading of Ouster

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Ouster by 11.3% in the third quarter. Vanguard Group Inc. now owns 4,720,264 shares of the company’s stock worth $127,683,000 after purchasing an additional 478,372 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Ouster by 8.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,190,545 shares of the company’s stock worth $28,876,000 after buying an additional 95,510 shares during the period. Marshall Wace LLP boosted its stake in Ouster by 29.0% in the 2nd quarter. Marshall Wace LLP now owns 687,260 shares of the company’s stock valued at $16,666,000 after buying an additional 154,353 shares in the last quarter. Invesco Ltd. grew its position in 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 acquiring an additional 536,413 shares during the period. Finally, Algert Global LLC grew its position in Ouster by 192.6% in the third quarter. Algert Global LLC now owns 500,902 shares of the company’s stock valued at $13,549,000 after acquiring an additional 329,735 shares during the period. 31.45% of the stock is currently 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.