Ouster (NYSE:OUST) Trading Down 5.9% - Here's Why

Ouster, Inc. (NYSE:OUST - Get Free Report)'s share price traded down 5.9% during trading on Friday . The company traded as low as $18.29 and last traded at $18.34. 903,408 shares were traded during mid-day trading, a decline of 38% from the average session volume of 1,453,330 shares. The stock had previously closed at $19.48.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Oppenheimer initiated coverage on Ouster in a research note on Thursday, March 27th. They issued an "outperform" rating and a $16.00 price target for the company. Westpark Capital cut Ouster from a "strong-buy" rating to a "hold" rating in a research note on Thursday. Rosenblatt Securities restated a "buy" rating and issued a $17.00 price objective on shares of Ouster in a research note on Friday, March 21st. Cantor Fitzgerald restated a "neutral" rating and issued a $19.00 price objective on shares of Ouster in a research note on Thursday. Finally, UBS Group set a $16.00 price objective on Ouster in a research note on Thursday, March 27th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $15.24.

Ouster Price Performance

The firm has a fifty day moving average of $10.25 and a 200 day moving average of $10.09. The stock has a market capitalization of $971.55 million, a price-to-earnings ratio of -7.03 and a beta of 2.48.

Insider Buying and Selling at Ouster

In other news, General Counsel Megan Chung sold 5,800 shares of Ouster stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $11.24, for a total value of $65,192.00. Following the sale, the general counsel now directly owns 220,762 shares of the company's stock, valued at $2,481,364.88. The trade was a 2.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 6.63% of the stock is owned by corporate insiders.

Institutional Trading of Ouster

A number of institutional investors have recently made changes to their positions in OUST. Byrne Asset Management LLC purchased a new position in Ouster during the first quarter worth approximately $39,000. FNY Investment Advisers LLC purchased a new position in Ouster during the first quarter worth approximately $49,000. Daiwa Securities Group Inc. lifted its position in Ouster by 18.0% during the fourth quarter. Daiwa Securities Group Inc. now owns 6,977 shares of the company's stock worth $85,000 after buying an additional 1,063 shares in the last quarter. AlphaQuest LLC lifted its position in Ouster by 27.8% during the first quarter. AlphaQuest LLC now owns 10,566 shares of the company's stock worth $95,000 after buying an additional 2,296 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in Ouster during the first quarter worth approximately $97,000. 31.45% of the stock is owned by institutional investors and hedge funds.

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.