Ouster (NYSE:OUST) Stock Price Down 9.1% – What’s Next?

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Westpark Capital upgraded Ouster from a “hold” rating to a “buy” rating in a research note on Wednesday, August 13th. Zacks Research downgraded Ouster from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $15.95.

Ouster Trading Down 10.4%

The firm has a 50-day moving average of $30.81 and a two-hundred day moving average of $23.23. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of -10.99 and a beta of 2.72.

Insider Transactions at Ouster

In other Ouster news, CTO Mark Frichtl sold 25,329 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $28.46, for a total value of $720,863.34. Following the completion of the transaction, the chief technology officer owned 665,403 shares of the company’s stock, valued at $18,937,369.38. This represents a 3.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Darien Spencer sold 18,274 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $28.46, for a total value of $520,078.04. Following the completion of the transaction, the chief operating officer directly owned 346,132 shares of the company’s stock, valued at approximately $9,850,916.72. This trade represents a 5.01% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 104,615 shares of company stock worth $2,992,286. Insiders own 6.63% of the company’s stock.

Hedge Funds Weigh In On Ouster

Hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC raised its holdings in shares of Ouster by 2,532.6% in the 2nd quarter. NewEdge Advisors LLC now owns 1,132 shares of the company’s stock worth $27,000 after buying an additional 1,089 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Ouster by 153.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,211 shares of the company’s stock worth $29,000 after buying an additional 733 shares in the last quarter. TD Waterhouse Canada Inc. raised its holdings in shares of Ouster by 8,823.5% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,517 shares of the company’s stock worth $37,000 after buying an additional 1,500 shares in the last quarter. Game Plan Financial Advisors LLC raised its holdings in shares of Ouster by 400.0% in the 2nd quarter. Game Plan Financial Advisors LLC now owns 3,000 shares of the company’s stock worth $73,000 after buying an additional 2,400 shares in the last quarter. Finally, North Capital Inc. raised its holdings in shares of Ouster by 102.7% in the 2nd quarter. North Capital Inc. now owns 3,000 shares of the company’s stock worth $73,000 after buying an additional 1,520 shares in the last quarter. 31.45% of the stock is owned by institutional investors and hedge funds.

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.