Ouster (NASDAQ:OUST) Stock Price Down 9.8% – What’s Next?

Shares of Ouster, Inc. (NASDAQ:OUST) traded down 9.8% during mid-day trading on Wednesday . The stock traded as low as $39.00 and last traded at $40.7210. 5,103,936 shares changed hands during trading, an increase of 69% from the average daily volume of 3,018,930 shares. The stock had previously closed at $45.16.

Analysts Set New Price Targets

OUST has been the topic of several research reports. Roth Mkm assumed coverage on Ouster in a report on Friday, May 29th. They issued a “buy” rating and a $75.00 target price on the stock. Weiss Ratings assumed coverage on Ouster in a research note on Friday, May 15th. They set a “sell (d-)” rating for the company. Rosenblatt Securities boosted their price objective on shares of Ouster from $40.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Cantor Fitzgerald cut shares of Ouster from an “overweight” rating to a “neutral” rating in a research note on Thursday, May 7th. Finally, Oppenheimer restated an “outperform” rating and set a $40.00 target price on shares of Ouster in a report on Tuesday, March 3rd. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Ouster presently has a consensus rating of “Hold” and a consensus price target of $48.17.

Ouster Stock Performance

The company has a 50-day moving average of $34.71 and a 200-day moving average of $26.43. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of -41.98 and a beta of 3.24.

Ouster (NASDAQ:OUST) last announced its earnings results on Tuesday, May 5th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $46.15 million. During the same quarter last year, the company posted ($0.42) EPS. As a group, analysts expect that Ouster, Inc. will post -1.05 earnings per share for the current year.

Insider Activity at Ouster

In other news, Director Ted L. Tewksbury III sold 1,695 shares of Ouster stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $47.00, for a total transaction of $79,665.00. Following the completion of the sale, the director directly owned 124,999 shares in the company, valued at $5,874,953. The trade was a 1.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Mark Frichtl sold 308,742 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $41.53, for a total transaction of $12,822,055.26. Following the completion of the transaction, the chief technology officer directly owned 294,924 shares of the company’s stock, valued at approximately $12,248,193.72. This represents a 51.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 910,591 shares of company stock worth $32,578,780 over the last three months. Company insiders own 5.72% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. NewEdge Advisors LLC boosted its holdings in shares of Ouster by 2,532.6% during the second 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 last quarter. Larson Financial Group LLC increased its stake in 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 during the last quarter. Gordian Capital Singapore Pte Ltd lifted its position 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 during the period. SHP Wealth Management acquired a new stake in Ouster in the 4th quarter worth about $96,000. Finally, Van ECK Associates Corp boosted its stake in Ouster by 17.1% in the 3rd quarter. Van ECK Associates Corp now owns 3,590 shares of the company’s stock worth $97,000 after buying an additional 525 shares during the last quarter. Hedge funds and other institutional investors own 31.45% of the company’s stock.

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.