Ouster (NASDAQ:OUST) Trading Down 1.5% – Here’s Why

Ouster, Inc. (NASDAQ:OUST)’s share price fell 1.5% during mid-day trading on Wednesday . The company traded as low as $40.60 and last traded at $43.41. Approximately 5,030,190 shares changed hands during trading, an increase of 54% from the average session volume of 3,270,247 shares. The stock had previously closed at $44.06.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Rosenblatt Securities boosted their target price on shares of Ouster from $40.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Cantor Fitzgerald lowered shares of Ouster from an “overweight” rating to a “neutral” rating in a research report on Thursday, May 7th. Weiss Ratings started coverage on shares of Ouster in a research note on Friday, May 15th. They issued a “sell (d-)” rating on the stock. Finally, Roth Capital assumed coverage on shares of Ouster in a research report on Friday, May 29th. They set a “buy” rating and a $75.00 price objective for the company. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $48.17.

Ouster Trading Down 1.5%

The firm has a market cap of $2.73 billion, a P/E ratio of -44.75 and a beta of 3.17. The business has a 50-day moving average of $39.50 and a two-hundred day moving average of $28.20.

Ouster (NASDAQ:OUST) last posted its earnings results on Tuesday, May 5th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.16). Ouster had a negative net margin of 30.12% and a negative return on equity of 21.49%. The firm had revenue of $48.58 million during the quarter, compared to the consensus estimate of $46.15 million. During the same quarter in the prior year, the business posted ($0.42) earnings per share. As a group, equities analysts expect that Ouster, Inc. will post -1.05 EPS for the current year.

Insider Activity

In related news, CRO Cyrille Jacquemet sold 9,433 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $40.00, for a total value of $377,320.00. Following the sale, the executive owned 123,158 shares of the company’s stock, valued at $4,926,320. The trade was a 7.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ted L. Tewksbury III sold 1,695 shares of the stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $47.00, for a total value of $79,665.00. Following the completion of the sale, the director owned 124,999 shares of the company’s stock, valued at $5,874,953. The trade was a 1.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 910,591 shares of company stock worth $32,578,780. Company insiders own 5.72% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of OUST. NewEdge Advisors LLC increased its stake in shares of Ouster by 2,532.6% in the second quarter. NewEdge Advisors LLC now owns 1,132 shares of the company’s stock valued at $27,000 after buying an additional 1,089 shares during the period. Larson Financial Group LLC lifted its stake in shares of Ouster by 118.8% in the fourth quarter. Larson Financial Group LLC now owns 1,965 shares of the company’s stock worth $43,000 after acquiring an additional 1,067 shares during the period. Gordian Capital Singapore Pte Ltd boosted its holdings in Ouster by 38.1% in the third quarter. Gordian Capital Singapore Pte Ltd now owns 2,900 shares of the company’s stock valued at $78,000 after acquiring an additional 800 shares during the last quarter. SHP Wealth Management acquired a new stake in Ouster during the 4th quarter valued at approximately $96,000. Finally, Van ECK Associates Corp increased its position in Ouster by 17.1% during 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. 31.45% of the stock is owned by institutional investors and hedge funds.

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.