Ouster (NYSE:OUST) Shares Down 9.2% – Should You Sell?

Ouster, Inc. (NYSE:OUST)’s share price dropped 9.2% during mid-day trading on Friday . The stock traded as low as $31.06 and last traded at $31.6650. Approximately 1,257,992 shares were traded during trading, a decline of 47% from the average daily volume of 2,365,255 shares. The stock had previously closed at $34.86.

Analysts Set New Price Targets

OUST has been the subject of several analyst reports. Rosenblatt Securities restated a “buy” rating and set a $40.00 price target on shares of Ouster in a report on Tuesday, March 3rd. Cantor Fitzgerald lowered shares of Ouster from an “overweight” rating to a “neutral” rating in a report on Thursday, May 7th. Finally, Oppenheimer restated an “outperform” rating and set a $40.00 price target on shares of Ouster in a report on Tuesday, March 3rd. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Ouster has a consensus rating of “Moderate Buy” and a consensus price target of $40.20.

Ouster Stock Performance

The firm’s 50 day moving average price is $23.25 and its two-hundred day moving average price is $23.34. The company has a market cap of $2.16 billion, a P/E ratio of -13.56 and a beta of 3.06.

Insider Activity

In other news, General Counsel Megan Chung sold 5,837 shares of Ouster stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $24.70, for a total value of $144,173.90. Following the completion of the sale, the general counsel owned 213,836 shares in the company, valued at $5,281,749.20. The trade was a 2.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Stephen A. Skaggs sold 5,000 shares of Ouster stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $30.00, for a total transaction of $150,000.00. Following the completion of the sale, the director owned 61,690 shares of the company’s stock, valued at $1,850,700. This represents a 7.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 303,409 shares of company stock worth $7,524,471 in the last quarter. 5.72% of the stock is owned by corporate insiders.

Institutional Trading of Ouster

Several hedge funds have recently bought and sold shares of the business. Van ECK Associates Corp grew its position in Ouster by 17.1% in the 3rd quarter. Van ECK Associates Corp now owns 3,590 shares of the company’s stock valued at $97,000 after purchasing an additional 525 shares during the period. Main Management ETF Advisors LLC grew its position in Ouster by 1.0% in the 4th quarter. Main Management ETF Advisors LLC now owns 54,810 shares of the company’s stock valued at $1,186,000 after purchasing an additional 560 shares during the period. Corient Private Wealth LLC grew its position in Ouster by 5.5% in the 2nd quarter. Corient Private Wealth LLC now owns 11,554 shares of the company’s stock valued at $280,000 after purchasing an additional 599 shares during the period. Prosperity Wealth Management Inc. grew its position in Ouster by 5.5% in the 3rd 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 during the period. Finally, Creative Planning boosted its holdings in Ouster by 1.6% during the 3rd quarter. Creative Planning now owns 43,681 shares of the company’s stock worth $1,182,000 after acquiring an additional 677 shares during the last quarter. Institutional investors and hedge funds 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.