Ouster (NYSE:OUST) Stock Price Down 5.4% – Should You Sell?

Ouster, Inc. (NYSE:OUST)’s stock price traded down 5.4% during mid-day trading on Wednesday . The company traded as low as $10.61 and last traded at $10.63. 257,747 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 1,364,402 shares. The stock had previously closed at $11.23.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on OUST shares. Oppenheimer began coverage on shares of Ouster in a research note on Thursday. They set an “outperform” rating and a $16.00 price target on the stock. Cantor Fitzgerald lifted their target price on shares of Ouster from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. Westpark Capital initiated coverage on Ouster in a research note on Monday, March 17th. They set a “hold” rating on the stock. Northland Securities assumed coverage on Ouster in a report on Thursday, December 12th. They set an “outperform” rating and a $14.00 price objective for the company. Finally, Northland Capmk upgraded Ouster to a “strong-buy” rating in a report on Thursday, December 12th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $13.71.

Ouster Trading Down 6.0 %

The firm has a market cap of $496.71 million, a PE ratio of -3.88 and a beta of 2.38. The stock’s 50 day moving average price is $9.38 and its 200 day moving average price is $9.05.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Intech Investment Management LLC acquired a new stake in Ouster during the 3rd quarter valued at $81,000. Charles Schwab Investment Management Inc. increased its stake in Ouster by 10.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 356,407 shares of the company’s stock valued at $2,245,000 after purchasing an additional 34,743 shares during the last quarter. Centiva Capital LP acquired a new stake in Ouster during the third quarter worth about $167,000. Stifel Financial Corp raised its position in shares of Ouster by 286.7% during the 3rd quarter. Stifel Financial Corp now owns 59,718 shares of the company’s stock worth $376,000 after purchasing an additional 44,275 shares during the period. Finally, State Street Corp lifted its stake in Ouster by 2.4% in the third quarter. State Street Corp now owns 1,649,540 shares of the company’s stock valued at $10,392,000 after buying an additional 37,926 shares during the last quarter. Institutional investors and hedge funds own 31.45% of the company’s stock.

Ouster Company Profile

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.