Ouster (NASDAQ:OUST) Trading Down 7.5% – What’s Next?

Ouster, Inc. (NASDAQ:OUST) fell 7.5% on Monday . The company traded as low as $39.48 and last traded at $40.03. 3,323,305 shares changed hands during mid-day trading, an increase of 1% from the average daily volume of 3,277,397 shares. The stock had previously closed at $43.28.

Analyst Upgrades and Downgrades

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

Ouster Price Performance

The business’s 50 day moving average is $40.61 and its 200 day moving average is $28.67. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of -41.27 and a beta of 3.17.

Ouster (NASDAQ:OUST) last posted its quarterly 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 net margin of 30.12% and a negative return on equity of 21.49%. The business had revenue of $48.58 million during the quarter, compared to analyst estimates of $46.15 million. During the same quarter in the prior year, the business earned ($0.42) earnings per share. As a group, analysts forecast that Ouster, Inc. will post -1.05 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Charles Angus Pacala sold 29,797 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $38.82, for a total transaction of $1,156,719.54. Following the completion of the sale, the chief executive officer owned 1,072,201 shares in the company, valued at $41,622,842.82. The trade was a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Mark Frichtl sold 308,742 shares of the company’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 value 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 $12,248,193.72. This trade represents a 51.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 910,591 shares of company stock worth $32,578,780. Insiders own 5.72% of the company’s stock.

Institutional Trading of Ouster

Several institutional investors have recently modified their holdings of OUST. Van ECK Associates Corp boosted its holdings in shares of 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 in the last quarter. Main Management ETF Advisors LLC raised its stake in Ouster by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 54,810 shares of the company’s stock worth $1,186,000 after acquiring an additional 560 shares in the last quarter. Corient Private Wealth LLC raised its stake in 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 acquiring an additional 599 shares in the last quarter. Prosperity Wealth Management Inc. lifted its position in Ouster by 5.5% in the third quarter. Prosperity Wealth Management Inc. now owns 13,000 shares of the company’s stock valued at $352,000 after acquiring an additional 675 shares during the last quarter. Finally, Creative Planning lifted its position in Ouster by 1.6% in the third quarter. Creative Planning now owns 43,681 shares of the company’s stock valued at $1,182,000 after acquiring an additional 677 shares during the last quarter. Hedge funds and other 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.