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

Shares of Ouster, Inc. (NYSE:OUST) fell 3.2% during mid-day trading on Friday . The company traded as low as $10.95 and last traded at $10.91. 266,944 shares traded 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 have weighed in on OUST shares. Northland Securities started coverage on shares of Ouster in a report on Thursday, December 12th. They issued an “outperform” rating and a $14.00 price target for the company. Northland Capmk upgraded Ouster to a “strong-buy” rating in a research note on Thursday, December 12th. Rosenblatt Securities restated a “buy” rating and set a $17.00 price objective on shares of Ouster in a research report on Friday, November 8th. Finally, 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 research report on Monday, November 11th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Ouster presently has an average rating of “Buy” and an average target price of $13.17.

Ouster Price Performance

The firm has a 50 day simple moving average of $10.68 and a 200-day simple moving average of $9.44. The stock has a market capitalization of $538.11 million, a price-to-earnings ratio of -4.21 and a beta of 2.39.

Insider Buying and Selling

In other Ouster news, General Counsel Megan Chung sold 13,671 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $9.69, for a total transaction of $132,471.99. Following the transaction, the general counsel now directly owns 149,647 shares in the company, valued at approximately $1,450,079.43. This represents a 8.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Mark Weinswig sold 31,397 shares of Ouster stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $8.72, for a total transaction of $273,781.84. Following the sale, the chief financial officer now owns 198,650 shares of the company’s stock, valued at approximately $1,732,228. This represents a 13.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 80,415 shares of company stock worth $748,620 in the last quarter. 7.81% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ouster

A number of institutional investors have recently made changes to their positions in the stock. Marshall Wace LLP increased its stake in shares of Ouster by 184.9% in the 2nd quarter. Marshall Wace LLP now owns 653,530 shares of the company’s stock valued at $6,424,000 after acquiring an additional 424,178 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Ouster in the second quarter valued at approximately $1,305,000. Renaissance Technologies LLC acquired a new stake in Ouster in the second quarter worth $1,217,000. GSA Capital Partners LLP bought a new position in shares of Ouster during the third quarter worth $706,000. Finally, Geode Capital Management LLC boosted its position in shares of Ouster by 6.8% during the third quarter. Geode Capital Management LLC now owns 975,407 shares of the company’s stock worth $6,146,000 after purchasing an additional 62,202 shares in the last quarter. 31.45% of the stock is owned by institutional investors and hedge funds.

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.