Ouster (NASDAQ:OUST) Shares Gap Down – Time to Sell?

Ouster, Inc. (NASDAQ:OUST) gapped down before the market opened on Monday . The stock had previously closed at $39.01, but opened at $37.26. Ouster shares last traded at $41.5250, with a volume of 1,170,187 shares trading hands.

Analysts Set New Price Targets

OUST has been the subject of a number of recent research reports. Roth Capital initiated coverage on shares of Ouster in a report on Friday, May 29th. They issued a “buy” rating and a $75.00 price objective for the company. Northland Securities set a $60.00 price objective on Ouster and gave the company an “outperform” rating in a research note on Tuesday, July 21st. Weiss Ratings assumed coverage on Ouster in a report on Friday, May 15th. They issued a “sell (d-)” rating on the stock. Rosenblatt Securities increased their target price on Ouster from $40.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Finally, Oppenheimer restated an “outperform” rating and set a $57.00 price target (up from $42.00) on shares of Ouster in a research report on Wednesday, July 15th. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $54.67.

Ouster Price Performance

The firm’s 50 day moving average price is $42.56 and its 200 day moving average price is $30.05. The stock has a market capitalization of $2.64 billion, a P/E ratio of -43.45 and a beta of 3.17.

Ouster (NASDAQ:OUST) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.16). The business had revenue of $48.58 million for the quarter, compared to analysts’ expectations of $46.15 million. Ouster had a negative net margin of 30.12% and a negative return on equity of 21.49%. During the same quarter in the prior year, the firm earned ($0.42) EPS. On average, equities research analysts forecast that Ouster, Inc. will post -1.03 earnings per share for the current year.

Insider Buying and Selling at Ouster

In other news, CRO Cyrille Jacquemet sold 10,000 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $35.00, for a total transaction of $350,000.00. Following the sale, the executive owned 132,590 shares of the company’s stock, valued at $4,640,650. This trade represents a 7.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kenneth P. Gianella sold 54,337 shares of the stock in a transaction on Friday, June 12th. The stock was 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 directly owned 301,014 shares of the company’s stock, valued at approximately $11,685,363.48. This trade represents a 15.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 728,205 shares of company stock valued at $27,905,687. Company insiders own 5.72% of the company’s stock.

Institutional Investors Weigh In On Ouster

Several institutional investors and hedge funds have recently modified their holdings of OUST. Invesco Ltd. lifted its position in Ouster by 1,521.8% in the second quarter. Invesco Ltd. now owns 571,662 shares of the company’s stock worth $13,863,000 after buying an additional 536,413 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Ouster in the first quarter valued at approximately $8,915,000. Handelsbanken Fonder AB grew its stake in shares of Ouster by 130.7% during the 4th quarter. Handelsbanken Fonder AB now owns 715,646 shares of the company’s stock worth $15,479,000 after purchasing an additional 405,441 shares during the period. Squarepoint Ops LLC lifted its stake in shares of Ouster by 517.5% in the 4th quarter. Squarepoint Ops LLC now owns 401,727 shares of the company’s stock valued at $8,693,000 after purchasing an additional 336,673 shares during the period. Finally, Bastion Asset Management Inc. purchased a new stake in shares of Ouster during the 1st quarter worth about $5,271,000. 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.