Ouster (NYSE:OUST) Stock Price Down 7.6% – Here’s Why

Shares of Ouster, Inc. (NYSE:OUST) were down 7.6% on Friday . The stock traded as low as $11.60 and last traded at $11.64. Approximately 427,818 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 2,058,398 shares. The stock had previously closed at $12.60.

Analyst Ratings Changes

OUST has been the topic of several research analyst reports. Rosenblatt Securities reissued a “buy” rating and set a $17.00 target price on shares of Ouster in a research note 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 research report on Monday, November 11th. Northland Capmk upgraded shares of Ouster to a “strong-buy” rating in a report on Thursday, December 12th. Finally, Northland Securities began coverage on shares of Ouster in a research report on Thursday, December 12th. They issued an “outperform” rating and a $14.00 price target on the stock. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $13.17.

Ouster Price Performance

The firm’s fifty day simple moving average is $10.40 and its 200 day simple moving average is $9.41. The company has a market capitalization of $563.41 million, a price-to-earnings ratio of -4.40 and a beta of 2.39.

Insider Buying and Selling at Ouster

In other news, CFO Mark Weinswig sold 31,397 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $8.72, for a total transaction of $273,781.84. Following the transaction, the chief financial officer now owns 198,650 shares in the company, valued at approximately $1,732,228. This trade represents a 13.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Charles Angus Pacala acquired 50,954 shares of Ouster stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average cost of $9.79 per share, with a total value of $498,839.66. Following the purchase, the chief executive officer now owns 769,957 shares in the company, valued at $7,537,879.03. The trade was a 7.09 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 80,415 shares of company stock valued at $748,620 in the last three months. 7.81% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Ouster during the second quarter valued at approximately $27,000. Van ECK Associates Corp boosted its holdings in shares of 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 during the period. Stoneridge Investment Partners LLC bought a new position in Ouster in the 3rd quarter worth $67,000. True North Advisors LLC acquired a new position in Ouster during the 3rd quarter worth $78,000. Finally, Intech Investment Management LLC bought a new stake in Ouster during the third quarter valued at about $81,000. 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.