Ouster (NASDAQ:OUST) Shares Down 4% – Time to Sell?

Ouster, Inc. (NASDAQ:OUST) shares dropped 4% on Wednesday . The stock traded as low as $57.43 and last traded at $60.02. Approximately 5,297,881 shares traded hands during mid-day trading, an increase of 68% from the average session volume of 3,157,265 shares. The stock had previously closed at $62.52.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Weiss Ratings started coverage on shares of Ouster in a report on Friday, May 15th. They issued a “sell (d-)” rating for the company. Rosenblatt Securities raised their price objective on Ouster from $40.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Cantor Fitzgerald lowered Ouster from an “overweight” rating to a “neutral” rating in a report on Thursday, May 7th. Finally, Roth Mkm began coverage on Ouster in a research note on Friday, May 29th. They issued a “buy” rating and a $75.00 target price 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. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $48.17.

Ouster Stock Performance

The firm has a market capitalization of $3.13 billion, a P/E ratio of -51.38 and a beta of 3.17. The business has a 50 day moving average of $38.27 and a 200-day moving average of $27.64.

Ouster (NASDAQ:OUST) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.16). The company had revenue of $48.58 million during the quarter, compared to the consensus estimate of $46.15 million. Ouster had a negative net margin of 30.12% and a negative return on equity of 21.49%. During the same period in the previous year, the firm posted ($0.42) EPS. On average, analysts anticipate that Ouster, Inc. will post -1.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other Ouster news, Director Ted L. Tewksbury III sold 1,695 shares of Ouster stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $47.00, for a total value of $79,665.00. Following the sale, the director owned 124,999 shares of the company’s stock, valued at $5,874,953. This trade represents a 1.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Mark Frichtl sold 308,742 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $41.53, for a total value of $12,822,055.26. Following the completion of the sale, the chief technology officer owned 294,924 shares in the company, valued at approximately $12,248,193.72. This trade represents a 51.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 910,591 shares of company stock worth $32,578,780 in the last ninety days. 5.72% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. NewEdge Advisors LLC raised its position in Ouster by 2,532.6% in the 2nd quarter. NewEdge Advisors LLC now owns 1,132 shares of the company’s stock valued at $27,000 after buying an additional 1,089 shares during the last quarter. Larson Financial Group LLC boosted its position in Ouster by 118.8% during the 4th quarter. Larson Financial Group LLC now owns 1,965 shares of the company’s stock worth $43,000 after acquiring an additional 1,067 shares during the last quarter. Gordian Capital Singapore Pte Ltd boosted its position in Ouster by 38.1% during the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 2,900 shares of the company’s stock worth $78,000 after acquiring an additional 800 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Ouster by 17.1% during the 3rd quarter. Van ECK Associates Corp now owns 3,590 shares of the company’s stock worth $97,000 after acquiring an additional 525 shares in the last quarter. Finally, Banque Cantonale Vaudoise bought a new position in shares of Ouster during the 3rd quarter worth approximately $120,000. 31.45% of the stock is 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.