Ouster (NYSE:OUST) Trading Down 8% - Time to Sell?

Key Points

• Ouster, Inc. experienced a significant 8% decline in stock price, dropping from a previous close of $25.93 to $23.85, with trading volume down 47% from the average.
• Analysts maintain a mixed outlook on Ouster, with two giving a hold rating, four a buy rating, and an average price target of $15.24.
• Institutional investors have recently increased their stakes in Ouster, with notable increases from Deutsche Bank and Barclays PLC, reflecting growing interest in the company's stock.

Shares of Ouster, Inc. (NYSE:OUST - Get Free Report) fell 8% during mid-day trading on Tuesday . The company traded as low as $23.74 and last traded at $23.85. 1,106,355 shares traded hands during mid-day trading, a decline of 47% from the average session volume of 2,073,668 shares. The stock had previously closed at $25.93.

Wall Street Analyst Weigh In

A number of research firms have issued reports on OUST. Westpark Capital cut Ouster from a "buy" rating to a "hold" rating in a research note on Thursday, June 12th. Cantor Fitzgerald reissued a "neutral" rating and set a $19.00 price target on shares of Ouster in a report on Thursday, June 12th. 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $15.24.

Ouster Price Performance

The business has a fifty day moving average of $21.05 and a 200-day moving average of $13.16. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of -8.70 and a beta of 2.75.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in OUST. Nisa Investment Advisors LLC increased its stake in Ouster by 153.3% in the 2nd 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. Game Plan Financial Advisors LLC increased its stake in Ouster by 400.0% in the 2nd 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. Byrne Asset Management LLC purchased a new position in Ouster in the 1st quarter worth about $39,000. FNY Investment Advisers LLC purchased a new position in Ouster in the 1st quarter worth about $49,000. Finally, AlphaQuest LLC increased its stake in Ouster by 27.8% in the 1st quarter. AlphaQuest LLC now owns 10,566 shares of the company's stock worth $95,000 after purchasing an additional 2,296 shares in the last quarter. Institutional investors and hedge funds 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.