Ouster (NYSE:OUST) Trading Down 2.8% – Should You Sell?

Ouster, Inc. (NYSE:OUST) shares dropped 2.8% during trading on Thursday . The company traded as low as $12.44 and last traded at $12.45. Approximately 130,825 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 1,201,153 shares. The stock had previously closed at $12.81.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Northland Capmk upgraded Ouster to a “strong-buy” rating in a research report on Thursday, December 12th. Rosenblatt Securities reiterated a “buy” rating and set a $17.00 price target on shares of Ouster in a report on Friday, November 8th. Cantor Fitzgerald upgraded shares of Ouster from a “neutral” rating to an “overweight” rating and reduced their price objective for the company from $12.00 to $10.00 in a report on Monday, November 11th. Finally, Northland Securities started coverage on shares of Ouster in a research note on Thursday, December 12th. They set an “outperform” rating and a $14.00 target price for the company. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $13.17.

Ouster Trading Down 8.9 %

The company has a market capitalization of $621.64 million, a PE ratio of -4.86 and a beta of 2.50. The business has a fifty day moving average of $9.30 and a 200 day moving average of $9.23.

Insider Activity

In other Ouster news, CFO Mark Weinswig sold 31,397 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $8.72, for a total transaction of $273,781.84. Following the sale, the chief financial officer now owns 198,650 shares in the company, valued at $1,732,228. This represents a 13.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Megan Chung sold 13,671 shares of Ouster stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $9.69, for a total value of $132,471.99. Following the completion of the transaction, the general counsel now owns 149,647 shares of the company’s stock, valued at $1,450,079.43. The trade was a 8.37 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 80,415 shares of company stock valued at $748,620. 7.81% of the stock is currently owned by company insiders.

Institutional Trading of Ouster

A number of large investors have recently made changes to their positions in OUST. Van ECK Associates Corp grew its holdings in Ouster by 28.4% during the 3rd quarter. Van ECK Associates Corp now owns 7,264 shares of the company’s stock worth $46,000 after acquiring an additional 1,608 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Ouster during the 2nd quarter worth $27,000. Ballentine Partners LLC acquired a new position in shares of Ouster during the second quarter worth $101,000. Stoneridge Investment Partners LLC purchased a new position in Ouster in the third quarter valued at $67,000. Finally, True North Advisors LLC acquired a new stake in Ouster in the third quarter valued at $78,000. 31.45% of the stock is currently owned by hedge funds and other institutional investors.

Ouster Company Profile

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.