Ouster (NASDAQ:OUST) Trading Down 8.9% – Here’s What Happened

Ouster, Inc. (NASDAQ:OUST) dropped 8.9% during trading on Friday . The stock traded as low as $43.10 and last traded at $43.28. 3,262,554 shares traded hands during trading, a decline of 1% from the average daily volume of 3,279,842 shares. The stock had previously closed at $47.53.

Wall Street Analyst Weigh In

OUST has been the subject of a number of research analyst reports. Roth Capital started coverage on shares of Ouster in a report on Friday, May 29th. They issued a “buy” rating and a $75.00 price target for the company. Cantor Fitzgerald lowered shares of Ouster from an “overweight” rating to a “neutral” rating in a research report on Thursday, May 7th. Weiss Ratings initiated coverage on Ouster in a research report on Friday, May 15th. They issued a “sell (d-)” rating for the company. Finally, Rosenblatt Securities boosted their target price on shares of Ouster from $40.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Ouster has an average rating of “Hold” and a consensus target price of $48.17.

Ouster Stock Performance

The firm has a fifty day moving average of $40.26 and a 200-day moving average of $28.53. The stock has a market capitalization of $2.72 billion, a price-to-earnings ratio of -44.62 and a beta of 3.17.

Ouster (NASDAQ:OUST) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.16). Ouster had a negative return on equity of 21.49% and a negative net margin of 30.12%.The company had revenue of $48.58 million for the quarter, compared to analyst estimates of $46.15 million. During the same quarter in the prior year, the firm earned ($0.42) EPS. On average, analysts predict that Ouster, Inc. will post -1.05 EPS for the current year.

Insider Buying and Selling

In other news, CEO Charles Angus Pacala sold 29,797 shares of Ouster stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $38.82, for a total transaction of $1,156,719.54. Following the sale, the chief executive officer owned 1,072,201 shares in the company, valued at $41,622,842.82. This trade represents a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Darien Spencer sold 30,000 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $45.00, for a total transaction of $1,350,000.00. Following the transaction, the chief operating officer directly owned 342,366 shares in the company, valued at approximately $15,406,470. The trade was a 8.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 910,591 shares of company stock valued at $32,578,780. Insiders own 5.72% of the company’s stock.

Institutional Investors Weigh In On Ouster

Large investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its holdings in Ouster by 2,532.6% in the 2nd quarter. NewEdge Advisors LLC now owns 1,132 shares of the company’s stock worth $27,000 after buying an additional 1,089 shares in the last quarter. Larson Financial Group LLC grew its stake in shares of Ouster by 118.8% during the fourth quarter. Larson Financial Group LLC now owns 1,965 shares of the company’s stock valued at $43,000 after acquiring an additional 1,067 shares in the last quarter. SHP Wealth Management purchased a new stake in shares of Ouster during the fourth quarter worth about $96,000. Van ECK Associates Corp lifted its stake in shares of Ouster by 17.1% in the third 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, Global Retirement Partners LLC lifted its stake in shares of Ouster by 139.9% in the fourth quarter. Global Retirement Partners LLC now owns 4,622 shares of the company’s stock worth $100,000 after acquiring an additional 2,695 shares in the last quarter. 31.45% of the stock is owned by institutional investors and hedge funds.

Ouster Company Profile

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.