Ouster (NYSE:OUST) Trading Down 8.2% – Time to Sell?

Ouster, Inc. (NYSE:OUST)’s share price fell 8.2% on Monday . The stock traded as low as $23.31 and last traded at $22.2760. 226,535 shares changed hands during trading, a decline of 90% from the average session volume of 2,321,043 shares. The stock had previously closed at $24.26.

Analysts Set New Price Targets

OUST has been the subject of several recent research reports. Zacks Research cut Ouster from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. Northland Securities set a $38.00 target price on Ouster in a research note on Wednesday, November 5th. Oppenheimer reiterated an “outperform” rating on shares of Ouster in a report on Thursday, December 4th. Cantor Fitzgerald set a $33.00 price target on shares of Ouster in a research report on Thursday, November 6th. Finally, Westpark Capital reissued a “buy” rating and issued a $50.00 price objective on shares of Ouster in a report on Wednesday, November 5th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.17.

Ouster Price Performance

The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of -8.65 and a beta of 2.99. The stock has a 50 day moving average price of $27.28 and a two-hundred day moving average price of $26.15.

Insider Activity

In other news, Director Ted L. Tewksbury III sold 1,695 shares of the stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $25.38, for a total transaction of $43,019.10. Following the sale, the director owned 125,359 shares of the company’s stock, valued at approximately $3,181,611.42. This represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Megan Chung sold 5,837 shares of the company’s stock in a transaction that occurred on Friday, October 17th. The stock was sold at an average price of $31.02, for a total transaction of $181,063.74. Following the sale, the general counsel directly owned 197,199 shares in the company, valued at approximately $6,117,112.98. The trade was a 2.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 6.63% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. NewEdge Advisors LLC increased its holdings in Ouster by 2,532.6% during the 2nd quarter. NewEdge Advisors LLC now owns 1,132 shares of the company’s stock worth $27,000 after purchasing an additional 1,089 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Ouster by 153.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,211 shares of the company’s stock valued at $29,000 after purchasing an additional 733 shares during the last quarter. TD Waterhouse Canada Inc. raised its holdings in shares of Ouster by 8,823.5% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,517 shares of the company’s stock valued at $37,000 after purchasing an additional 1,500 shares in the last quarter. Gordian Capital Singapore Pte Ltd lifted its position in shares of Ouster by 38.1% during the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 2,900 shares of the company’s stock worth $78,000 after purchasing an additional 800 shares during the last quarter. Finally, Game Plan Financial Advisors LLC lifted its position in shares of Ouster by 400.0% during the 2nd quarter. Game Plan Financial Advisors LLC now owns 3,000 shares of the company’s stock worth $73,000 after purchasing an additional 2,400 shares during the last quarter. 31.45% of the stock is currently owned by hedge funds and other institutional investors.

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.