Ouster (NASDAQ:OUST) Stock Price Down 8.9% – Time to Sell?

Shares of Ouster, Inc. (NASDAQ:OUST) dropped 8.9% during mid-day trading on Friday . The stock traded as low as $43.10 and last traded at $43.28. Approximately 3,262,554 shares traded hands during trading, a decline of 1% from the average daily volume of 3,279,842 shares. The stock had previously closed at $47.53.

Analyst Upgrades and Downgrades

OUST has been the subject of several research analyst reports. Weiss Ratings started coverage on Ouster in a research note on Friday, May 15th. They set a “sell (d-)” rating for the company. Cantor Fitzgerald cut shares of Ouster from an “overweight” rating to a “neutral” rating in a report on Thursday, May 7th. Roth Capital assumed coverage on shares of Ouster in a research note on Friday, May 29th. They set a “buy” rating and a $75.00 price objective on the stock. Finally, Rosenblatt Securities raised their price objective on shares of Ouster from $40.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $48.17.

Ouster Stock Down 8.9%

The company has a 50 day simple moving average of $40.26 and a 200-day simple moving average of $28.53. The stock has a market cap of $2.72 billion, a price-to-earnings ratio of -44.62 and a beta of 3.17.

Ouster (NASDAQ:OUST) last issued 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 return on equity of 21.49% and a negative net margin of 30.12%.The firm had revenue of $48.58 million during the quarter, compared to analyst estimates of $46.15 million. During the same quarter in the previous year, the business posted ($0.42) EPS. On average, equities research analysts expect that Ouster, Inc. will post -1.05 EPS for the current fiscal year.

Insider Buying and Selling at Ouster

In other Ouster news, CEO Charles Angus Pacala sold 29,797 shares of Ouster stock in a transaction on Friday, June 12th. The shares were sold at an average price of $38.82, for a total value of $1,156,719.54. Following the completion of the transaction, the chief executive officer owned 1,072,201 shares of the company’s stock, valued at $41,622,842.82. The trade was a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Darien Spencer sold 30,000 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $45.00, for a total transaction of $1,350,000.00. Following the sale, the chief operating officer owned 342,366 shares of the company’s stock, valued at approximately $15,406,470. The trade was a 8.06% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 910,591 shares of company stock worth $32,578,780. Company insiders own 5.72% of the company’s stock.

Institutional Investors Weigh In On Ouster

A number of institutional investors have recently modified their holdings of the business. 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 during the period. Arrowstreet Capital Limited Partnership bought a new position in Ouster in the first quarter worth about $8,915,000. Handelsbanken Fonder AB boosted its stake 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 period. Squarepoint Ops LLC boosted its stake in Ouster by 517.5% in the fourth quarter. Squarepoint Ops LLC now owns 401,727 shares of the company’s stock valued at $8,693,000 after acquiring an additional 336,673 shares during the period. Finally, Algert Global LLC grew its holdings in shares of Ouster by 192.6% during the third quarter. Algert Global LLC now owns 500,902 shares of the company’s stock valued at $13,549,000 after purchasing an additional 329,735 shares during the last quarter. Institutional investors 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.