Ouster (NASDAQ:OUST) Trading Down 11.6% – Here’s What Happened

Ouster, Inc. (NASDAQ:OUST)’s stock price dropped 11.6% on Tuesday . The stock traded as low as $42.55 and last traded at $44.06. Approximately 6,001,146 shares changed hands during trading, an increase of 84% from the average session volume of 3,252,846 shares. The stock had previously closed at $49.83.

Wall Street Analyst Weigh In

Several research analysts have commented on OUST shares. Rosenblatt Securities lifted their price target on Ouster from $40.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Weiss Ratings assumed coverage on shares of Ouster in a research note on Friday, May 15th. They issued a “sell (d-)” rating on the stock. Cantor Fitzgerald lowered shares of Ouster from an “overweight” rating to a “neutral” rating in a research report on Thursday, May 7th. Finally, Roth Capital assumed coverage on shares of Ouster in a research note on Friday, May 29th. They set a “buy” rating and a $75.00 target price for the company. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $48.17.

Ouster Price Performance

The firm has a market cap of $2.77 billion, a P/E ratio of -45.42 and a beta of 3.17. The stock’s 50 day moving average is $39.18 and its two-hundred day moving average is $28.03.

Ouster (NASDAQ:OUST) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.16). Ouster had a negative net margin of 30.12% and a negative return on equity of 21.49%. The company had revenue of $48.58 million during the quarter, compared to analyst estimates of $46.15 million. During the same period in the prior year, the firm earned ($0.42) EPS. As a group, research analysts forecast that Ouster, Inc. will post -1.05 EPS for the current fiscal year.

Insider Buying and Selling at Ouster

In related news, CFO Kenneth P. Gianella sold 54,337 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $38.82, for a total transaction of $2,109,362.34. Following the completion of the sale, the chief financial officer owned 301,014 shares in the company, valued at $11,685,363.48. This trade represents a 15.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CRO Cyrille Jacquemet sold 9,433 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $40.00, for a total transaction of $377,320.00. Following the completion of the transaction, the executive owned 123,158 shares in the company, valued at approximately $4,926,320. This trade represents a 7.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 910,591 shares of company stock worth $32,578,780 over the last ninety days. Company insiders own 5.72% of the company’s stock.

Hedge Funds Weigh In On Ouster

Several institutional investors have recently bought and sold shares of OUST. Van ECK Associates Corp raised its holdings in Ouster by 17.1% during the 3rd quarter. Van ECK Associates Corp now owns 3,590 shares of the company’s stock worth $97,000 after purchasing an additional 525 shares during the last quarter. Main Management ETF Advisors LLC boosted its stake in shares of Ouster by 1.0% in the 4th quarter. Main Management ETF Advisors LLC now owns 54,810 shares of the company’s stock valued at $1,186,000 after purchasing an additional 560 shares during the last quarter. Corient Private Wealth LLC grew its position in shares of Ouster by 5.5% during the 2nd quarter. Corient Private Wealth LLC now owns 11,554 shares of the company’s stock worth $280,000 after buying an additional 599 shares during the period. Prosperity Wealth Management Inc. grew its position in shares of Ouster by 5.5% during the 3rd quarter. Prosperity Wealth Management Inc. now owns 13,000 shares of the company’s stock worth $352,000 after buying an additional 675 shares during the period. Finally, Creative Planning raised its stake in shares of Ouster by 1.6% during the third quarter. Creative Planning now owns 43,681 shares of the company’s stock worth $1,182,000 after buying an additional 677 shares during the last quarter. Institutional investors own 31.45% of the company’s stock.

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.