Ouster (NASDAQ:OUST) Shares Down 1.5% – Should You Sell?

Ouster, Inc. (NASDAQ:OUST)’s stock price traded down 1.5% during trading on Wednesday . The company traded as low as $40.60 and last traded at $43.41. Approximately 5,030,190 shares traded hands during mid-day trading, an increase of 54% from the average daily volume of 3,270,247 shares. The stock had previously closed at $44.06.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Roth Capital began 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. Rosenblatt Securities upped their price target on shares of Ouster from $40.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Cantor Fitzgerald downgraded Ouster from an “overweight” rating to a “neutral” rating in a report on Thursday, May 7th. Finally, Weiss Ratings assumed coverage on Ouster in a research report on Friday, May 15th. They issued a “sell (d-)” rating for the company. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Ouster presently has an average rating of “Hold” and an average target price of $48.17.

Ouster Stock Down 1.5%

The stock has a market cap of $2.73 billion, a price-to-earnings ratio of -44.75 and a beta of 3.17. The stock has a 50 day simple moving average of $39.50 and a 200 day simple moving average of $28.20.

Ouster (NASDAQ:OUST) last issued its earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.16). Ouster had a negative return on equity of 21.49% and a negative net margin of 30.12%.The firm had revenue of $48.58 million for the quarter, compared to analyst estimates of $46.15 million. During the same period in the previous year, the company earned ($0.42) earnings per share. Equities analysts expect that Ouster, Inc. will post -1.05 earnings per share for the current year.

Insider Buying and Selling at Ouster

In other Ouster news, CFO Kenneth P. Gianella sold 54,337 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer owned 301,014 shares in the company, valued at approximately $11,685,363.48. This represents a 15.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Charles Angus Pacala sold 29,797 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $38.82, for a total transaction of $1,156,719.54. Following the completion of the transaction, the chief executive officer directly owned 1,072,201 shares in the company, valued at $41,622,842.82. This trade represents a 2.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 910,591 shares of company stock worth $32,578,780. Corporate insiders own 5.72% of the company’s stock.

Hedge Funds Weigh In On Ouster

A number of hedge funds have recently added to or reduced their stakes in 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 in the last quarter. Larson Financial Group LLC lifted its holdings in shares of Ouster by 118.8% in the fourth quarter. Larson Financial Group LLC now owns 1,965 shares of the company’s stock valued at $43,000 after purchasing an additional 1,067 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in shares of Ouster during the second quarter valued at approximately $150,000. Gordian Capital Singapore Pte Ltd grew its holdings in Ouster by 38.1% during the third quarter. Gordian Capital Singapore Pte Ltd now owns 2,900 shares of the company’s stock worth $78,000 after buying an additional 800 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in Ouster by 17.1% in the 3rd quarter. Van ECK Associates Corp now owns 3,590 shares of the company’s stock valued at $97,000 after buying an additional 525 shares during the last quarter. Institutional investors and hedge funds 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.