Ouster (NYSE:OUST) Shares Down 7.5% - What's Next?

Key Points

• Ouster, Inc.'s stock price fell by 7.5%, closing at $34.08 after trading as low as $35.07, with a significant decline in trading volume.
• Analysts have mixed ratings on Ouster, with one reporting a Strong Buy rating, four a Buy, and two a Hold, resulting in a consensus rating of Moderate Buy.
• Insider trading showed that CEO Charles Pacala sold nearly 38,000 shares, indicating a 3.63% decrease in his ownership, while the company's stock is partly owned by 31.45% of institutional investors and hedge funds.

Ouster, Inc. (NYSE:OUST - Get Free Report)'s stock price traded down 7.5% during trading on Thursday . The stock traded as low as $35.07 and last traded at $34.08. 832,400 shares traded hands during trading, a decline of 64% from the average session volume of 2,289,158 shares. The stock had previously closed at $36.83.

Analyst Upgrades and Downgrades

Several equities 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 cut Ouster from a "strong-buy" rating to a "hold" rating in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, Ouster has a consensus rating of "Moderate Buy" and a consensus target price of $15.95.

Ouster Price Performance

The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of -12.71 and a beta of 2.72. The business has a fifty day moving average of $30.13 and a 200 day moving average of $20.66.

Insiders Place Their Bets

In related news, CEO Charles Angus Pacala sold 37,992 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 $1,081,252.32. Following the transaction, the chief executive officer directly owned 1,009,927 shares in the company, valued at approximately $28,742,522.42. This represents a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Megan Chung sold 17,183 shares of the company's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $28.46, for a total value of $489,028.18. Following the transaction, the general counsel owned 203,036 shares in the company, valued at $5,778,404.56. This trade represents a 7.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 98,778 shares of company stock valued at $2,811,222. Insiders own 6.63% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in OUST. NewEdge Advisors LLC lifted its stake in Ouster by 2,532.6% during the second quarter. NewEdge Advisors LLC now owns 1,132 shares of the company's stock worth $27,000 after purchasing an additional 1,089 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Ouster by 153.3% during the second quarter. Nisa Investment Advisors LLC now owns 1,211 shares of the company's stock worth $29,000 after purchasing an additional 733 shares in the last quarter. TD Waterhouse Canada Inc. lifted its stake in Ouster by 8,823.5% during the second quarter. TD Waterhouse Canada Inc. now owns 1,517 shares of the company's stock worth $37,000 after purchasing an additional 1,500 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in Ouster during the first quarter worth $49,000. Finally, Game Plan Financial Advisors LLC lifted its stake in Ouster by 400.0% during the second quarter. Game Plan Financial Advisors LLC now owns 3,000 shares of the company's stock worth $73,000 after purchasing an additional 2,400 shares in the last quarter. 31.45% of the stock is currently 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.

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