Ouster (NYSE:OUST) Trading Down 8.5% - Should You Sell?

Key Points

• Ouster, Inc. shares dropped by 8.5% during trading, closing at $31.77, down from a previous close of $34.72.
• Analysts have mixed ratings for Ouster, with a consensus rating of "Buy" and an average price target of $15.95.
• Institutional investors currently own 31.45% of Ouster's stock, with significant increases in holdings from firms like JPMorgan Chase & Co. and Russell Investments Group Ltd.

Ouster, Inc. (NYSE:OUST - Get Free Report) traded down 8.5% on Monday . The company traded as low as $32.80 and last traded at $31.77. 664,938 shares were traded during mid-day trading, a decline of 69% from the average session volume of 2,169,184 shares. The stock had previously closed at $34.72.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Westpark Capital raised shares of Ouster from a "hold" rating to a "buy" rating in a research note on Wednesday, August 13th. Cantor Fitzgerald reissued a "neutral" rating and issued a $19.00 target price on shares of Ouster in a research note on Thursday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Ouster currently has an average rating of "Buy" and a consensus price target of $15.95.

Ouster Stock Performance

The firm has a market cap of $1.65 billion, a price-to-earnings ratio of -11.93 and a beta of 2.74. The business's 50-day moving average is $25.35 and its 200-day moving average is $14.99.

Institutional Investors Weigh In On Ouster

A number of hedge funds have recently made changes to their positions in the company. Marex Group plc acquired a new stake in shares of Ouster during the 2nd quarter worth about $298,000. State of Wyoming acquired a new stake in shares of Ouster during the 2nd quarter worth about $114,000. FORA Capital LLC acquired a new stake in shares of Ouster during the 2nd quarter worth about $1,109,000. Tower Research Capital LLC TRC increased its position in shares of Ouster by 260.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,040 shares of the company's stock worth $146,000 after purchasing an additional 4,366 shares in the last quarter. Finally, Corient Private Wealth LLC increased its position 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 in the last quarter. Institutional investors and hedge funds own 31.45% of the company's stock.

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.