Ouster (NYSE:OUST) Trading Down 2.8% – Should You Sell?

Ouster, Inc. (NYSE:OUST)’s share price dropped 2.8% during mid-day trading on Thursday . The stock traded as low as $12.44 and last traded at $12.45. Approximately 130,825 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 1,201,153 shares. The stock had previously closed at $12.81.

Wall Street Analysts Forecast Growth

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

Ouster Trading Up 4.6 %

The business has a fifty day simple moving average of $9.09 and a 200 day simple moving average of $9.19. The stock has a market capitalization of $666.93 million, a P/E ratio of -5.21 and a beta of 2.50.

Insider Buying and Selling

In related news, CFO Mark Weinswig sold 31,397 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $8.72, for a total transaction of $273,781.84. Following the sale, the chief financial officer now owns 198,650 shares of the company’s stock, valued at approximately $1,732,228. This represents a 13.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Charles Angus Pacala acquired 50,954 shares of Ouster stock in a transaction dated Thursday, December 12th. The shares were purchased at an average price of $9.79 per share, for a total transaction of $498,839.66. Following the completion of the transaction, the chief executive officer now directly owns 769,957 shares in the company, valued at approximately $7,537,879.03. The trade was a 7.09 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 80,415 shares of company stock valued at $748,620. 7.81% of the stock is owned by insiders.

Institutional Trading of Ouster

A number of institutional investors and hedge funds have recently modified their holdings of OUST. Bank of New York Mellon Corp purchased a new position in shares of Ouster during the 2nd quarter valued at about $1,305,000. Van ECK Associates Corp bought a new stake in Ouster in the second quarter worth $56,000. Fairhaven Wealth Management LLC purchased a new stake in Ouster during the second quarter valued at $131,000. Rhumbline Advisers bought a new position in Ouster during the second quarter valued at $598,000. Finally, Ballentine Partners LLC bought a new stake in shares of Ouster in the 2nd quarter worth about $101,000. 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.