Ouster (NYSE:OUST) Shares Down 3.2% – Here’s Why

Ouster, Inc. (NYSE:OUST)’s share price traded down 3.2% during mid-day trading on Friday . The stock traded as low as $10.95 and last traded at $10.91. 266,944 shares were traded during mid-day trading, a decline of 86% from the average session volume of 1,860,575 shares. The stock had previously closed at $11.27.

Analyst Ratings Changes

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

Ouster Price Performance

The firm has a market cap of $527.56 million, a P/E ratio of -4.12 and a beta of 2.39. The stock’s 50 day moving average is $10.74 and its two-hundred day moving average is $9.45.

Insider Buying and Selling at Ouster

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

Institutional Investors Weigh In On Ouster

A number of large investors have recently bought and sold shares of the business. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Ouster in the second quarter worth $27,000. Van ECK Associates Corp lifted its position 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 buying an additional 1,608 shares in the last quarter. Stoneridge Investment Partners LLC bought a new stake in Ouster during the 3rd quarter worth about $67,000. True North Advisors LLC acquired a new stake in Ouster in the 3rd quarter valued at about $78,000. Finally, Intech Investment Management LLC bought a new position in shares of Ouster in the third quarter worth about $81,000. 31.45% of the stock is currently owned by 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.