Ouster (NYSE:OUST) Stock Price Down 9.1% – Should You Sell?

Ouster, Inc. (NYSE:OUST) fell 9.1% during mid-day trading on Tuesday . The stock traded as low as $29.03 and last traded at $28.8410. 1,710,293 shares were traded during trading, a decline of 26% from the average session volume of 2,321,640 shares. The stock had previously closed at $31.72.

Analysts Set New Price Targets

OUST has been the topic of a number of research analyst reports. Northland Securities set a $38.00 target price on shares of Ouster in a research note on Wednesday. Cantor Fitzgerald set a $33.00 price target on shares of Ouster in a report on Thursday. Oppenheimer reiterated an “outperform” rating and issued a $39.00 price objective on shares of Ouster in a research note on Wednesday. Zacks Research downgraded Ouster from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 13th. Finally, Westpark Capital reaffirmed a “buy” rating and issued a $50.00 target price on shares of Ouster in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Ouster currently has an average rating of “Buy” and an average target price of $32.17.

Ouster Stock Down 6.7%

The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of -9.39 and a beta of 2.74. The business has a 50-day moving average of $30.52 and a two-hundred day moving average of $23.40.

Insider Transactions at Ouster

In other Ouster news, General Counsel Megan Chung sold 5,837 shares of the business’s stock in a transaction on Friday, October 17th. The shares were sold at an average price of $31.02, for a total value of $181,063.74. Following the sale, the general counsel owned 197,199 shares of the company’s stock, valued at $6,117,112.98. The trade was a 2.87% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Charles Angus Pacala sold 37,992 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $28.46, for a total transaction of $1,081,252.32. Following the completion of the transaction, the chief executive officer owned 1,009,927 shares of the company’s stock, valued at approximately $28,742,522.42. This represents a 3.63% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 104,615 shares of company stock valued at $2,992,286. Company insiders own 6.63% of the company’s stock.

Institutional Trading of Ouster

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OUST. Invesco Ltd. boosted its stake in shares of Ouster by 71.3% in the 1st quarter. Invesco Ltd. now owns 35,249 shares of the company’s stock valued at $317,000 after purchasing an additional 14,674 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Ouster in the first quarter valued at approximately $97,000. Ieq Capital LLC bought a new stake in shares of Ouster during the first quarter worth $236,000. Graham Capital Management L.P. raised its holdings in Ouster by 57.1% during the 1st quarter. Graham Capital Management L.P. now owns 99,309 shares of the company’s stock worth $892,000 after purchasing an additional 36,081 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Ouster by 29.6% during the 1st quarter. Russell Investments Group Ltd. now owns 114,421 shares of the company’s stock valued at $1,027,000 after purchasing an additional 26,103 shares during the period. 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.