Ouster (NYSE:OUST) Trading Down 7.6% – What’s Next?

Shares of Ouster, Inc. (NYSE:OUST) traded down 7.6% during trading on Friday . The company traded as low as $11.60 and last traded at $11.64. 427,818 shares traded hands during trading, a decline of 79% from the average session volume of 2,058,398 shares. The stock had previously closed at $12.60.

Analyst Upgrades and Downgrades

OUST has been the subject of several research reports. Northland Capmk upgraded shares of Ouster to a “strong-buy” rating in a research note on Thursday, December 12th. Northland Securities started coverage on shares of Ouster in a research note on Thursday, December 12th. They issued an “outperform” rating and a $14.00 price target on the stock. Cantor Fitzgerald upgraded shares of Ouster from a “neutral” rating to an “overweight” rating and cut their price target for the company from $12.00 to $10.00 in a report on Monday, November 11th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $17.00 price target on shares of Ouster in a research note on Friday, November 8th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $13.17.

Ouster Price Performance

The company has a 50-day moving average of $10.32 and a two-hundred day moving average of $9.40. The company has a market capitalization of $564.90 million, a PE ratio of -4.42 and a beta of 2.39.

Insider Activity at Ouster

In other news, General Counsel Megan Chung sold 13,671 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $9.69, for a total value of $132,471.99. Following the transaction, the general counsel now owns 149,647 shares of the company’s stock, valued at approximately $1,450,079.43. The trade was a 8.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Charles Angus Pacala bought 50,954 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were bought at an average price of $9.79 per share, with a total value of $498,839.66. Following the transaction, the chief executive officer now owns 769,957 shares of the company’s stock, valued at $7,537,879.03. The trade was a 7.09 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 80,415 shares of company stock worth $748,620. 7.81% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp purchased a new position in shares of Ouster in the 2nd quarter worth $1,305,000. Rhumbline Advisers purchased a new stake in Ouster in the 2nd quarter worth about $598,000. Ballentine Partners LLC purchased a new position in shares of Ouster during the second quarter valued at approximately $101,000. American Century Companies Inc. grew its stake in shares of Ouster by 38.5% during the second quarter. American Century Companies Inc. now owns 45,615 shares of the company’s stock valued at $448,000 after buying an additional 12,691 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Ouster during the 2nd quarter valued at $1,217,000. Institutional investors own 31.45% of the company’s stock.

About Ouster

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.