Ouster (NYSE:OUST) Shares Down 7.8% – Should You Sell?

Ouster, Inc. (NYSE:OUST)’s stock price dropped 7.8% during mid-day trading on Friday . The company traded as low as $18.01 and last traded at $17.8040. Approximately 470,684 shares were traded during trading, a decline of 75% from the average daily volume of 1,915,737 shares. The stock had previously closed at $19.31.

Wall Street Analyst Weigh In

A number of brokerages recently commented on OUST. Rosenblatt Securities reaffirmed a “buy” rating and issued a $40.00 target price on shares of Ouster in a report on Tuesday, March 3rd. Oppenheimer reissued an “outperform” rating and set a $40.00 price target on shares of Ouster in a report on Tuesday, March 3rd. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $40.20.

Ouster Stock Performance

The company has a market capitalization of $1.11 billion, a P/E ratio of -6.87 and a beta of 2.91. The business’s fifty day simple moving average is $20.96 and its 200-day simple moving average is $24.84.

Insider Activity

In related news, General Counsel Megan Chung sold 9,593 shares of the business’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $23.43, for a total value of $224,763.99. Following the sale, the general counsel directly owned 173,548 shares in the company, valued at approximately $4,066,229.64. The trade was a 5.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Darien Spencer sold 10,938 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $23.43, for a total value of $256,277.34. Following the transaction, the chief operating officer directly owned 325,250 shares of the company’s stock, valued at approximately $7,620,607.50. The trade was a 3.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 108,409 shares of company stock valued at $2,456,848. 6.63% of the stock is owned by corporate insiders.

Institutional Trading of Ouster

Several hedge funds have recently modified their holdings of the company. NewEdge Advisors LLC boosted its position in shares of Ouster by 2,532.6% during the 2nd quarter. NewEdge Advisors LLC now owns 1,132 shares of the company’s stock valued at $27,000 after acquiring an additional 1,089 shares during the last quarter. Larson Financial Group LLC increased its position in 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 purchasing an additional 1,067 shares during the last quarter. Gordian Capital Singapore Pte Ltd raised its stake in Ouster by 38.1% during the third quarter. Gordian Capital Singapore Pte Ltd now owns 2,900 shares of the company’s stock valued at $78,000 after purchasing an additional 800 shares in the last quarter. Van ECK Associates Corp raised its stake in Ouster by 17.1% during the third 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 in the last quarter. Finally, Centaurus Financial Inc. bought a new position in Ouster during the second quarter valued at $104,000. 31.45% of the stock is owned by hedge funds and other institutional investors.

About Ouster

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.