Ouster (NASDAQ:OUST) Shares Down 7.5% – Should You Sell?

Ouster, Inc. (NASDAQ:OUST) shares dropped 7.5% on Monday . The stock traded as low as $39.48 and last traded at $40.03. Approximately 3,323,305 shares traded hands during mid-day trading, an increase of 1% from the average daily volume of 3,277,397 shares. The stock had previously closed at $43.28.

Wall Street Analyst Weigh In

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

Ouster Price Performance

The stock has a 50-day moving average of $41.14 and a 200-day moving average of $28.93. The firm has a market cap of $2.64 billion, a price-to-earnings ratio of -43.27 and a beta of 3.17.

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

Insider Buying and Selling at Ouster

In related news, Director Ted L. Tewksbury III sold 1,695 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $47.00, for a total transaction 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. This represents a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Charles Angus Pacala sold 29,797 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $38.82, for a total transaction of $1,156,719.54. Following the completion of the transaction, the chief executive officer directly owned 1,072,201 shares in the company, valued at approximately $41,622,842.82. This represents a 2.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 850,591 shares of company stock valued at $31,188,380 over the last three months. 5.72% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in shares of Ouster by 9.1% in the 4th quarter. Geode Capital Management LLC now owns 1,421,130 shares of the company’s stock valued at $30,758,000 after purchasing an additional 118,132 shares during the last quarter. Penn Capital Management Company LLC boosted its stake in Ouster by 24.1% in the fourth quarter. Penn Capital Management Company LLC now owns 775,297 shares of the company’s stock valued at $16,817,000 after buying an additional 150,337 shares in the last quarter. Handelsbanken Fonder AB grew its position in Ouster by 130.7% in the fourth quarter. Handelsbanken Fonder AB now owns 715,646 shares of the company’s stock valued at $15,479,000 after acquiring an additional 405,441 shares during the last quarter. Invesco Ltd. raised its stake in Ouster by 1,521.8% during the second quarter. Invesco Ltd. now owns 571,662 shares of the company’s stock worth $13,863,000 after acquiring an additional 536,413 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Ouster by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 487,438 shares of the company’s stock worth $10,548,000 after acquiring an additional 21,019 shares during the last quarter. 31.45% of the stock is currently 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.