Ouster (NYSE:OUST) Trading Down 6.7% – Here’s What Happened

Ouster, Inc. (NYSE:OUST)’s stock price fell 6.7% during mid-day trading on Monday . The stock traded as low as $26.62 and last traded at $26.0030. 299,861 shares traded hands during trading, a decline of 85% from the average session volume of 1,955,706 shares. The stock had previously closed at $27.87.

Analyst Ratings Changes

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

Ouster Price Performance

The firm’s fifty day moving average price is $23.52 and its two-hundred day moving average price is $26.92. The stock has a market cap of $1.64 billion, a P/E ratio of -10.63 and a beta of 2.93.

Insider Activity at Ouster

In other Ouster news, General Counsel Megan Chung sold 5,837 shares of Ouster stock in a transaction that occurred on Friday, October 17th. The stock was sold at an average price of $31.02, for a total value of $181,063.74. Following the transaction, the general counsel directly owned 197,199 shares of the company’s stock, valued at $6,117,112.98. The trade was a 2.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ted L. Tewksbury III sold 1,695 shares of the company’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $21.47, for a total transaction of $36,391.65. Following the transaction, the director directly owned 123,664 shares of the company’s stock, valued at approximately $2,655,066.08. This trade represents a 1.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 9,227 shares of company stock valued at $260,474. 6.63% of the stock is currently owned by company insiders.

Institutional Trading of Ouster

Institutional investors and hedge funds have recently bought and sold shares of the stock. Penserra Capital Management LLC purchased a new position in Ouster in the second quarter worth about $2,397,000. Osaic Holdings Inc. increased its holdings in Ouster by 3,452.7% in the 2nd quarter. Osaic Holdings Inc. now owns 121,893 shares of the company’s stock worth $2,956,000 after acquiring an additional 118,462 shares in the last quarter. Handelsbanken Fonder AB bought a new stake in shares of Ouster during the 2nd quarter valued at $496,000. Bulltick Wealth Management LLC purchased a new stake in shares of Ouster during the second quarter worth about $606,000. Finally, Los Angeles Capital Management LLC bought a new stake in Ouster in the 2nd quarter valued at $761,000. 31.45% of the stock is currently owned by hedge funds and other institutional investors.

Ouster Company Profile

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.