Ouster (NYSE:OUST) Trading Down 5.4% – Time to Sell?

Ouster, Inc. (NYSE:OUST) shares traded down 5.4% on Wednesday . The company traded as low as $10.61 and last traded at $10.63. 257,747 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 1,364,402 shares. The stock had previously closed at $11.23.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Northland Capmk raised shares of Ouster to a “strong-buy” rating in a research note on Thursday, December 12th. Rosenblatt Securities reiterated a “buy” rating and set a $17.00 price objective on shares of Ouster in a report on Friday, March 21st. Cantor Fitzgerald raised their target price on shares of Ouster from $10.00 to $11.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Westpark Capital assumed coverage on shares of Ouster in a research report on Monday, March 17th. They set a “hold” rating on the stock. Finally, 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 target price for the company. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $13.33.

Ouster Stock Performance

The business has a fifty day moving average price of $9.42 and a 200 day moving average price of $9.03. The company has a market cap of $523.44 million, a price-to-earnings ratio of -4.08 and a beta of 2.38.

Institutional Investors Weigh In On Ouster

Several hedge funds and other institutional investors have recently made changes to their positions in OUST. Daiwa Securities Group Inc. boosted its position in Ouster by 18.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 6,977 shares of the company’s stock valued at $85,000 after buying an additional 1,063 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Ouster by 1.1% during the 4th quarter. Bank of New York Mellon Corp now owns 101,959 shares of the company’s stock valued at $1,246,000 after acquiring an additional 1,074 shares in the last quarter. Invesco Ltd. grew its position in Ouster by 7.3% during the 4th quarter. Invesco Ltd. now owns 20,575 shares of the company’s stock worth $251,000 after acquiring an additional 1,391 shares during the last quarter. Fox Run Management L.L.C. increased its holdings in Ouster by 4.9% in the 4th quarter. Fox Run Management L.L.C. now owns 31,511 shares of the company’s stock worth $385,000 after purchasing an additional 1,463 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Ouster by 10.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,307 shares of the company’s stock valued at $321,000 after purchasing an additional 2,542 shares during the last quarter. 31.45% of the stock is owned by institutional investors.

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.