Ouster (NYSE:OUST) Trading Down 7.6% – What’s Next?

Shares of Ouster, Inc. (NYSE:OUST) fell 7.6% during mid-day trading on Friday . The company traded as low as $11.60 and last traded at $11.64. 427,818 shares were traded during mid-day trading, a decline of 79% from the average session volume of 2,058,398 shares. The stock had previously closed at $12.60.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on OUST. Northland Securities initiated coverage on Ouster in a research note on Thursday, December 12th. They issued an “outperform” rating and a $14.00 target price on the stock. Northland Capmk raised shares of Ouster to a “strong-buy” rating in a report on Thursday, December 12th. Rosenblatt Securities restated a “buy” rating and set a $17.00 price objective on shares of Ouster in a report on Friday, November 8th. Finally, Cantor Fitzgerald upgraded shares of Ouster from a “neutral” rating to an “overweight” rating and dropped their target price for the company from $12.00 to $10.00 in a research note on Monday, November 11th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $13.17.

Ouster Stock Down 9.9 %

The company has a market cap of $564.90 million, a PE ratio of -4.42 and a beta of 2.39. The stock has a 50-day moving average of $10.32 and a 200-day moving average of $9.40.

Insider Activity

In other Ouster news, General Counsel Megan Chung sold 13,671 shares of Ouster stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $9.69, for a total transaction of $132,471.99. Following the transaction, the general counsel now directly owns 149,647 shares of the company’s stock, valued at approximately $1,450,079.43. This trade represents a 8.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Charles Angus Pacala acquired 50,954 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was acquired at an average cost of $9.79 per share, with a total value of $498,839.66. Following the purchase, the chief executive officer now directly owns 769,957 shares in the company, valued at $7,537,879.03. This represents a 7.09 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 80,415 shares of company stock worth $748,620. 7.81% of the stock is currently owned by insiders.

Institutional Trading of Ouster

Several hedge funds have recently added to or reduced their stakes in the business. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Ouster in the second quarter worth $27,000. Van ECK Associates Corp increased its position in shares of Ouster by 28.4% during the third quarter. Van ECK Associates Corp now owns 7,264 shares of the company’s stock valued at $46,000 after buying an additional 1,608 shares during the period. Stoneridge Investment Partners LLC bought a new position in Ouster in the third quarter worth about $67,000. True North Advisors LLC purchased a new stake in Ouster in the third quarter worth about $78,000. Finally, Intech Investment Management LLC bought a new stake in Ouster during the 3rd quarter valued at approximately $81,000. 31.45% of the stock is owned by institutional investors.

About Ouster

Ouster, Inc provides lidar sensors for the automotive, industrial, robotics, and smart infrastructure industries in Americas, the Asia-Pacific, Europe, the Middle East, and Africa. Its products include high-resolution scanning and solid-state digital lidar sensors, analog lidar sensors, and software solutions.