Ouster (NYSE:OUST) Stock Price Down 6.5% – Should You Sell?

Ouster, Inc. (NYSE:OUST)’s share price fell 6.5% on Friday . The stock traded as low as $10.20 and last traded at $10.33. 1,506,159 shares traded hands during mid-day trading, a decline of 1% from the average session volume of 1,521,179 shares. The stock had previously closed at $11.05.

Analyst Ratings Changes

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

Ouster Price Performance

The company has a market cap of $517.11 million, a P/E ratio of -4.04 and a beta of 2.36. The stock has a fifty day moving average price of $10.99 and a two-hundred day moving average price of $9.22.

Ouster (NYSE:OUST) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.54) earnings per share (EPS) for the quarter. The business had revenue of $28.08 million for the quarter. Ouster had a negative return on equity of 65.17% and a negative net margin of 106.50%. During the same period in the previous year, the business earned ($0.89) EPS. As a group, analysts forecast that Ouster, Inc. will post -2.2 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Mark Weinswig sold 31,397 shares of the 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 completion of the transaction, the chief financial officer now owns 198,650 shares in the company, valued at $1,732,228. This trade represents a 13.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Charles Angus Pacala acquired 50,954 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average cost of $9.79 per share, with a total value of $498,839.66. Following the purchase, the chief executive officer now directly owns 769,957 shares in the company, valued at approximately $7,537,879.03. This trade represents a 7.09 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 80,415 shares of company stock valued at $748,620 over the last 90 days. 7.81% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ouster

A number of institutional investors have recently bought and sold shares of OUST. State Street Corp increased its stake in shares of Ouster by 2.4% during the 3rd quarter. State Street Corp now owns 1,649,540 shares of the company’s stock worth $10,392,000 after purchasing an additional 37,926 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Ouster by 6.8% during the 3rd quarter. Geode Capital Management LLC now owns 975,407 shares of the company’s stock valued at $6,146,000 after acquiring an additional 62,202 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in Ouster by 25.8% in the 4th quarter. New York State Common Retirement Fund now owns 759,491 shares of the company’s stock worth $9,281,000 after purchasing an additional 155,640 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Ouster by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 367,388 shares of the company’s stock worth $4,489,000 after acquiring an additional 10,981 shares during the period. Finally, Essex Investment Management Co. LLC lifted its position in Ouster by 66.7% during the 4th quarter. Essex Investment Management Co. LLC now owns 275,433 shares of the company’s stock worth $3,366,000 after acquiring an additional 110,181 shares during the last quarter. 31.45% of the stock is currently owned by institutional investors and hedge funds.

Ouster Company Profile

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.