Ouster (NASDAQ:OUST) Stock Price Down 6% – Time to Sell?

Ouster, Inc. (NASDAQ:OUST)’s share price was down 6% during mid-day trading on Monday. The stock traded as low as $37.88 and last traded at $37.5010. 311,221 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 3,078,356 shares. The stock had previously closed at $39.90.

Analysts Set New Price Targets

A number of research firms have recently commented on OUST. Rosenblatt Securities reaffirmed a “buy” rating and set a $53.00 price objective on shares of Ouster in a report on Thursday, August 27th. Oppenheimer reissued an “outperform” rating and issued a $57.00 price target (up from $42.00) on shares of Ouster in a research report on Wednesday, July 15th. Northland Securities set a $60.00 price target on shares of Ouster and gave the stock an “outperform” rating in a research note on Tuesday, July 21st. Citigroup reiterated an “outperform” rating on shares of Ouster in a research note on Tuesday, July 21st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Ouster in a research note on Wednesday, August 12th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Ouster presently has an average rating of “Moderate Buy” and a consensus target price of $54.67.

Ouster Price Performance

The stock has a market capitalization of $2.55 billion, a P/E ratio of -41.08 and a beta of 3.23. The company’s 50 day simple moving average is $39.31 and its two-hundred day simple moving average is $36.64.

Ouster (NASDAQ:OUST) last posted its earnings results on Thursday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.14). The firm had revenue of $54.63 million during the quarter, compared to the consensus estimate of $51.47 million. Ouster had a negative net margin of 26.02% and a negative return on equity of 17.49%. On average, research analysts anticipate that Ouster, Inc. will post -1.07 earnings per share for the current fiscal year.

Insider Transactions at Ouster

In other Ouster news, CTO Mark Frichtl sold 18,778 shares of the business’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $33.96, for a total value of $637,700.88. Following the completion of the transaction, the chief technology officer directly owned 318,987 shares of the company’s stock, valued at approximately $10,832,798.52. The trade was a 5.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Darien Spencer sold 30,000 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $45.00, for a total transaction of $1,350,000.00. Following the completion of the transaction, the chief operating officer directly owned 299,806 shares of the company’s stock, valued at approximately $13,491,270. This represents a 9.10% 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 173,037 shares of company stock worth $6,720,238. 5.72% of the stock is owned by company insiders.

Institutional Trading of Ouster

A number of hedge funds and other institutional investors have recently modified their holdings of OUST. GAMMA Investing LLC lifted its holdings in Ouster by 31.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,441 shares of the company’s stock worth $58,000 after buying an additional 341 shares in the last quarter. Farther Finance Advisors LLC boosted its position in Ouster by 83.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 895 shares of the company’s stock valued at $36,000 after buying an additional 407 shares during the last quarter. Tidal Investments LLC acquired a new stake in shares of Ouster in the 2nd quarter valued at $2,172,000. IPG Investment Advisors LLC increased its stake in shares of Ouster by 49.2% in the 2nd quarter. IPG Investment Advisors LLC now owns 14,924 shares of the company’s stock valued at $933,000 after buying an additional 4,924 shares during the period. Finally, MCF Advisors LLC increased its stake in shares of Ouster by 34.4% in the 2nd quarter. MCF Advisors LLC now owns 1,344 shares of the company’s stock valued at $84,000 after buying an additional 344 shares during the period. Institutional investors and hedge funds own 31.45% of the company’s stock.

Ouster Company Profile

Ouster, Inc is a technology company that develops lidar sensors and software for machine perception. Its digital lidar products use laser light to create three-dimensional representations of surrounding environments, helping machines detect objects, measure distances, and operate with greater situational awareness.

The company’s product portfolio includes lidar sensors for industrial automation, robotics, autonomous vehicles, transportation, mapping, and smart-infrastructure applications.