Ouster (NYSE:OUST) Trading Down 7.8% – What’s Next?

Ouster, Inc. (NYSE:OUST)’s stock price dropped 7.8% on Friday . The company traded as low as $18.01 and last traded at $17.8040. Approximately 470,684 shares were traded during trading, a decline of 75% from the average daily volume of 1,915,737 shares. The stock had previously closed at $19.31.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Oppenheimer reaffirmed an “outperform” rating and issued a $40.00 price target on shares of Ouster in a report on Tuesday, March 3rd. Rosenblatt Securities reissued a “buy” rating and set a $40.00 price objective on shares of Ouster in a research note on Tuesday, March 3rd. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Ouster currently has an average rating of “Moderate Buy” and an average price target of $40.20.

Ouster Stock Down 8.0%

The business’s 50 day simple moving average is $21.14 and its 200 day simple moving average is $24.94. The company has a market capitalization of $1.12 billion, a PE ratio of -6.91 and a beta of 2.91.

Insider Buying and Selling at Ouster

In other Ouster news, General Counsel Megan Chung sold 9,593 shares of Ouster stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $23.43, for a total transaction of $224,763.99. Following the transaction, the general counsel directly owned 173,548 shares in the company, valued at approximately $4,066,229.64. The trade was a 5.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ted L. Tewksbury III sold 1,695 shares of Ouster stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $20.00, for a total transaction of $33,900.00. Following the transaction, the director owned 121,969 shares in the company, valued at approximately $2,439,380. The trade was a 1.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 68,409 shares of company stock valued at $1,619,248 over the last three months. 6.63% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Ouster in the 3rd quarter worth about $1,677,000. Osaic Holdings Inc. grew its stake in Ouster by 3,452.7% during the 2nd quarter. Osaic Holdings Inc. now owns 121,893 shares of the company’s stock valued at $2,956,000 after acquiring an additional 118,462 shares in the last quarter. Handelsbanken Fonder AB acquired a new position in shares of Ouster in the 2nd quarter valued at about $496,000. SG Americas Securities LLC acquired a new position in shares of Ouster in the 3rd quarter valued at about $5,224,000. Finally, Hillsdale Investment Management Inc. purchased a new stake in shares of Ouster in the third quarter worth approximately $3,038,000. Hedge funds and other 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.