Ouster (NYSE:OUST) Trading Down 3.2% – Should You Sell?

Ouster, Inc. (NYSE:OUST)’s stock price fell 3.2% on Friday . The stock traded as low as $10.95 and last traded at $10.91. 266,944 shares changed hands during trading, a decline of 86% from the average session volume of 1,860,575 shares. The stock had previously closed at $11.27.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on OUST shares. Rosenblatt Securities reissued a “buy” rating and set a $17.00 target price on shares of Ouster in a research note on Friday, November 8th. Northland Capmk raised shares of Ouster to a “strong-buy” rating in a research report on Thursday, December 12th. Cantor Fitzgerald upgraded shares of Ouster from a “neutral” rating to an “overweight” rating and dropped their price objective for the stock from $12.00 to $10.00 in a report on Monday, November 11th. Finally, Northland Securities assumed coverage on shares of Ouster in a research note on Thursday, December 12th. They issued an “outperform” rating and a $14.00 target price for the company. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Ouster currently has an average rating of “Buy” and a consensus price target of $13.17.

Ouster Price Performance

The stock’s 50-day moving average price is $10.68 and its 200 day moving average price is $9.44. The firm has a market cap of $538.11 million, a P/E ratio of -4.21 and a beta of 2.39.

Insiders Place Their Bets

In related news, CEO Charles Angus Pacala acquired 50,954 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was purchased at an average cost of $9.79 per share, for a total transaction of $498,839.66. Following the completion of the transaction, the chief executive officer now directly owns 769,957 shares of the company’s stock, valued at approximately $7,537,879.03. The trade was a 7.09 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark Weinswig sold 31,397 shares of Ouster stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $8.72, for a total value of $273,781.84. Following the sale, the chief financial officer now directly owns 198,650 shares of the company’s stock, valued at $1,732,228. This represents a 13.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 80,415 shares of company stock valued at $748,620 in the last three months. 7.81% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ouster

A number of large investors have recently modified their holdings of OUST. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Ouster during the second quarter worth about $27,000. Van ECK Associates Corp lifted its stake in Ouster by 28.4% in the 3rd quarter. Van ECK Associates Corp now owns 7,264 shares of the company’s stock valued at $46,000 after purchasing an additional 1,608 shares during the last quarter. Stoneridge Investment Partners LLC acquired a new stake in Ouster in the third quarter valued at approximately $67,000. True North Advisors LLC bought a new stake in shares of Ouster during the third quarter worth $78,000. Finally, Intech Investment Management LLC bought a new position in shares of Ouster in the 3rd quarter valued at $81,000. Institutional investors and hedge funds own 31.45% of the company’s stock.

About Ouster

Ouster, Inc provides lidar sensors for the automotive, industrial, robotics, and smart infrastructure industries in Americas, the Asia-Pacific, Europe, the Middle East, and Africa. Its products include high-resolution scanning and solid-state digital lidar sensors, analog lidar sensors, and software solutions.