Ouster (NYSE:OUST) Trading Down 7.8% – What’s Next?

Shares of Ouster, Inc. (NYSE:OUST) dropped 7.8% on Friday . The company traded as low as $18.01 and last traded at $17.8040. Approximately 470,684 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 1,915,737 shares. The stock had previously closed at $19.31.

Analysts Set New Price Targets

OUST has been the topic of several recent research reports. Oppenheimer reiterated an “outperform” rating and issued a $40.00 price objective on shares of Ouster in a research report on Tuesday, March 3rd. Rosenblatt Securities restated a “buy” rating and issued a $40.00 price target on shares of Ouster in a research note on Tuesday, March 3rd. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $40.20.

Ouster Stock Down 8.0%

The business’s 50 day moving average is $21.14 and its two-hundred day moving average is $24.94. The firm has a market capitalization of $1.12 billion, a P/E ratio of -6.91 and a beta of 2.91.

Insider Activity

In other Ouster news, CTO Mark Frichtl sold 15,689 shares of the business’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $23.43, for a total transaction of $367,593.27. Following the sale, the chief technology officer directly owned 636,882 shares in the company, valued at approximately $14,922,145.26. The trade was a 2.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Megan Chung sold 9,593 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $23.43, for a total transaction of $224,763.99. Following the completion of the transaction, the general counsel owned 173,548 shares of the company’s stock, valued at $4,066,229.64. This trade represents a 5.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 68,409 shares of company stock worth $1,619,248 in the last 90 days. 6.63% of the stock is currently owned by corporate insiders.

Institutional Trading of Ouster

Several institutional investors have recently modified their holdings of OUST. Invesco Ltd. grew its holdings in Ouster by 1,521.8% during the second quarter. Invesco Ltd. now owns 571,662 shares of the company’s stock worth $13,863,000 after acquiring an additional 536,413 shares during the period. Vanguard Group Inc. grew its stake in shares of Ouster by 11.3% in the 3rd quarter. Vanguard Group Inc. now owns 4,720,264 shares of the company’s stock worth $127,683,000 after purchasing an additional 478,372 shares during the last quarter. Handelsbanken Fonder AB grew its stake in shares of Ouster by 130.7% in the 4th quarter. Handelsbanken Fonder AB now owns 715,646 shares of the company’s stock worth $15,479,000 after purchasing an additional 405,441 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Ouster in the 3rd quarter worth approximately $9,193,000. Finally, Squarepoint Ops LLC raised its holdings in shares of Ouster by 517.5% in the 4th quarter. Squarepoint Ops LLC now owns 401,727 shares of the company’s stock worth $8,693,000 after purchasing an additional 336,673 shares in the last quarter. Institutional investors and hedge funds 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.