Ouster (NYSE:OUST) Stock Price Down 5.9% - What's Next?

Key Points

• Down 5.9% — Ouster shares traded down to $25.63 on Friday on light volume (233,996 shares), an 88% drop from the stock's average session volume.
• Analysts maintain a consensus "Moderate Buy" (4 Buys, 1 Hold) with an average price target of $32.17, implying notable upside from current levels.
• Insider selling and fundamentals: insiders sold 9,227 shares (~$238k) over the last 90 days and now own 6.63% of the stock; the company has a market cap of $1.52B and a negative P/E (-9.84).

Ouster, Inc. (NYSE:OUST - Get Free Report)'s share price traded down 5.9% during mid-day trading on Friday . The company traded as low as $25.70 and last traded at $25.6280. 233,996 shares were traded during mid-day trading, a decline of 88% from the average session volume of 1,933,997 shares. The stock had previously closed at $27.24.

Analysts Set New Price Targets

OUST has been the topic of several analyst reports. Zacks Research downgraded shares of Ouster from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 13th. Northland Securities set a $38.00 price target on Ouster in a research report on Wednesday, November 5th. Oppenheimer reaffirmed an "outperform" rating on shares of Ouster in a research note on Thursday, December 4th. Westpark Capital reissued a "buy" rating and set a $50.00 price objective on shares of Ouster in a research report on Wednesday, November 5th. Finally, Cantor Fitzgerald set a $33.00 target price on Ouster in a report on Thursday, November 6th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $32.17.

Ouster Trading Down 7.3%

The business's 50 day simple moving average is $23.66 and its 200 day simple moving average is $27.08. The firm has a market capitalization of $1.52 billion, a PE ratio of -9.84 and a beta of 2.93.

Insider Transactions at Ouster

In other Ouster news, Director Ted L. Tewksbury III sold 1,695 shares of the firm's stock in a transaction on Friday, December 19th. The stock was sold at an average price of $21.47, for a total transaction of $36,391.65. Following the transaction, the director directly owned 123,664 shares in the company, valued at $2,655,066.08. This trade represents a 1.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Megan Chung sold 5,837 shares of Ouster stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $27.24, for a total transaction of $158,999.88. Following the transaction, the general counsel directly owned 183,141 shares in the company, valued at approximately $4,988,760.84. The trade was a 3.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 9,227 shares of company stock worth $238,411 over the last 90 days. Insiders own 6.63% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Van ECK Associates Corp increased its stake in Ouster by 17.1% during the 3rd quarter. Van ECK Associates Corp now owns 3,590 shares of the company's stock worth $97,000 after buying an additional 525 shares in the last quarter. Corient Private Wealth LLC grew its holdings in shares of Ouster by 5.5% during the 2nd quarter. Corient Private Wealth LLC now owns 11,554 shares of the company's stock worth $280,000 after purchasing an additional 599 shares during the period. Prosperity Wealth Management Inc. increased its position in shares of Ouster by 5.5% during the third quarter. Prosperity Wealth Management Inc. now owns 13,000 shares of the company's stock valued at $352,000 after acquiring an additional 675 shares during the last quarter. Creative Planning raised its position in Ouster by 1.6% in the third quarter. Creative Planning now owns 43,681 shares of the company's stock valued at $1,182,000 after purchasing an additional 677 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in shares of Ouster by 1.4% in the 3rd quarter. Alliancebernstein L.P. now owns 50,800 shares of the company's stock valued at $1,374,000 after buying an additional 700 shares during the period. Institutional investors and hedge funds own 31.45% of the company's stock.

Ouster Company Profile

Ouster, Inc is a leading provider of high-resolution digital lidar sensors, software and services designed to enable advanced perception capabilities across a range of industries. Headquartered in San Francisco, California, the company develops modular lidar solutions that capture precise three-dimensional data in real time, supporting applications from autonomous vehicles and robotics to mapping, smart infrastructure and industrial automation.

The company's core product lineup features multi-beam digital lidar units available in various form factors, including compact models for robotics and drones and larger units for automotive and mapping systems.

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