Ouster (NYSE:OUST) Stock Price Down 4.4% - Time to Sell?

Ouster, Inc. (NYSE:OUST - Get Free Report) traded down 4.4% during mid-day trading on Friday . The stock traded as low as $24.57 and last traded at $24.48. 1,003,343 shares traded hands during mid-day trading, a decline of 36% from the average session volume of 1,577,574 shares. The stock had previously closed at $25.62.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Cantor Fitzgerald reissued a "neutral" rating and set a $19.00 price target on shares of Ouster in a report on Thursday, June 12th. UBS Group set a $16.00 price objective on shares of Ouster in a research note on Thursday, March 27th. Westpark Capital lowered shares of Ouster from a "buy" rating to a "hold" rating in a research note on Thursday, June 12th. Oppenheimer initiated coverage on Ouster in a report on Thursday, March 27th. They set an "outperform" rating and a $16.00 target price on the stock. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $17.00 price objective on shares of Ouster in a research note on Friday, March 21st. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $15.24.

Ouster Trading Up 0.6%

The stock has a market cap of $1.30 billion, a price-to-earnings ratio of -9.44 and a beta of 2.48. The company has a fifty day simple moving average of $13.28 and a 200-day simple moving average of $10.98.

Institutional Investors Weigh In On Ouster

Hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Ouster by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 367,388 shares of the company's stock valued at $4,489,000 after purchasing an additional 10,981 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of Ouster by 30.8% during the fourth quarter. Deutsche Bank AG now owns 31,137 shares of the company's stock worth $380,000 after purchasing an additional 7,329 shares during the period. Barclays PLC grew its position in Ouster by 22.9% during the fourth quarter. Barclays PLC now owns 70,447 shares of the company's stock valued at $861,000 after purchasing an additional 13,117 shares in the last quarter. Bank of America Corp DE lifted its position in Ouster by 14.2% in the 4th quarter. Bank of America Corp DE now owns 105,753 shares of the company's stock worth $1,292,000 after buying an additional 13,145 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Ouster by 9,703.8% during the 1st quarter. GAMMA Investing LLC now owns 15,392 shares of the company's stock valued at $138,000 after acquiring an additional 15,235 shares in the last quarter. Hedge funds and other institutional investors own 31.45% of the company's stock.

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.