Ouster (NASDAQ:OUST) Stock Price Down 11.2% – Time to Sell?

Ouster, Inc. (NASDAQ:OUST)’s stock price dropped 11.2% during trading on Friday . The company traded as low as $41.42 and last traded at $41.8060. Approximately 872,265 shares changed hands during trading, a decline of 69% from the average daily volume of 2,784,499 shares. The stock had previously closed at $47.09.

Wall Street Analysts Forecast Growth

OUST has been the subject of a number of analyst reports. Rosenblatt Securities upped their price target on Ouster from $40.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Cantor Fitzgerald cut Ouster from an “overweight” rating to a “neutral” rating in a research report on Thursday, May 7th. Oppenheimer reaffirmed an “outperform” rating and set a $40.00 target price on shares of Ouster in a research note on Tuesday, March 3rd. Roth Mkm initiated coverage on shares of Ouster in a research note on Friday, May 29th. They issued a “buy” rating and a $75.00 price target on the stock. Finally, Weiss Ratings initiated coverage on shares of Ouster in a report on Friday, May 15th. They issued a “sell (d-)” rating for the company. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Ouster presently has a consensus rating of “Hold” and a consensus price target of $48.17.

Ouster Price Performance

The firm has a market cap of $2.49 billion, a price-to-earnings ratio of -41.03 and a beta of 3.24. The business has a fifty day simple moving average of $28.67 and a 200 day simple moving average of $24.52.

Insider Activity at Ouster

In other Ouster news, CEO Charles Angus Pacala sold 24,657 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $23.43, for a total value of $577,713.51. Following the transaction, the chief executive officer owned 960,660 shares in the company, valued at approximately $22,508,263.80. This trade represents a 2.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Mark Frichtl sold 308,742 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $41.53, for a total transaction of $12,822,055.26. Following the completion of the sale, the chief technology officer 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. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 927,334 shares of company stock valued at $31,530,882. 5.72% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Invesco Ltd. lifted its position 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 buying an additional 536,413 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Ouster in the 1st quarter worth $8,915,000. Vanguard Group Inc. raised its holdings in shares of Ouster by 11.3% during the 3rd quarter. Vanguard Group Inc. now owns 4,720,264 shares of the company’s stock worth $127,683,000 after acquiring an additional 478,372 shares during the period. Handelsbanken Fonder AB raised its holdings in shares of Ouster by 130.7% during the 4th quarter. Handelsbanken Fonder AB now owns 715,646 shares of the company’s stock worth $15,479,000 after acquiring an additional 405,441 shares during the period. Finally, Squarepoint Ops LLC boosted its position in shares of Ouster by 517.5% during the 4th quarter. Squarepoint Ops LLC now owns 401,727 shares of the company’s stock valued at $8,693,000 after acquiring an additional 336,673 shares during the last quarter. 31.45% of the stock is currently owned by institutional investors and hedge funds.

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.