Ouster (NASDAQ:OUST) Stock Falls 6% - Here's Why

Key Points

• Ouster shares fell 6% to about $37.50 in light trading, with volume down roughly 90% from the average session.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $54.67, despite one sell rating.
• The company missed quarterly EPS expectations, reporting a loss of $0.26 per share versus an expected $0.12 loss; insiders also sold $6.7 million of stock last quarter.

Ouster, Inc. (NASDAQ:OUST - Get Free Report)'s stock price was down 6% on Monday. The stock traded as low as $37.88 and last traded at $37.5010. 311,221 shares changed hands during trading, a decline of 90% from the average session volume of 3,078,356 shares. The stock had previously closed at $39.90.

Analyst Ratings Changes

OUST has been the subject of several research analyst reports. Citigroup restated an "outperform" rating on shares of Ouster in a report on Tuesday, July 21st. Weiss Ratings reiterated a "sell (d-)" rating on shares of Ouster in a research note on Wednesday, August 12th. Rosenblatt Securities reiterated a "buy" rating and set a $53.00 price target on shares of Ouster in a research note on Thursday, August 27th. Northland Securities set a $60.00 price target on shares of Ouster and gave the company an "outperform" rating in a research report on Tuesday, July 21st. Finally, Oppenheimer restated an "outperform" rating and issued a $57.00 price objective (up from $42.00) on shares of Ouster in a research note on Wednesday, July 15th. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.67.

Ouster Price Performance

The firm has a market capitalization of $2.72 billion, a PE ratio of -43.78 and a beta of 3.23. The business's 50-day moving average price is $39.67 and its 200-day moving average price is $36.42.

Ouster (NASDAQ:OUST - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.26) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.14). The business had revenue of $54.63 million during the quarter, compared to analyst estimates of $51.47 million. Ouster had a negative net margin of 26.02% and a negative return on equity of 17.49%. Equities analysts forecast that Ouster, Inc. will post -1.07 earnings per share for the current year.

Insider Buying and Selling

In other news, General Counsel Megan Chung sold 11,484 shares of the stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $33.96, for a total transaction of $389,996.64. Following the completion of the sale, the general counsel owned 189,291 shares in the company, valued at approximately $6,428,322.36. This represents a 5.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Charles Pacala sold 30,385 shares of the firm's stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $33.96, for a total value of $1,031,874.60. Following the transaction, the chief executive officer directly owned 1,041,816 shares in the company, valued at approximately $35,380,071.36. This represents a 2.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 173,037 shares of company stock valued at $6,720,238 in the last quarter. Corporate insiders own 5.72% of the company's stock.

Hedge Funds Weigh In On Ouster

Several institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its position in Ouster by 31.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,441 shares of the company's stock worth $58,000 after buying an additional 341 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of Ouster by 40.3% in the second quarter. Allworth Financial LP now owns 1,190 shares of the company's stock valued at $74,000 after acquiring an additional 342 shares in the last quarter. MCF Advisors LLC boosted its holdings in shares of Ouster by 34.4% in the second quarter. MCF Advisors LLC now owns 1,344 shares of the company's stock valued at $84,000 after acquiring an additional 344 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Ouster by 2.4% during the second quarter. Arizona State Retirement System now owns 16,030 shares of the company's stock worth $1,002,000 after acquiring an additional 373 shares during the period. Finally, Farther Finance Advisors LLC increased its stake in shares of Ouster by 83.4% during the third quarter. Farther Finance Advisors LLC now owns 895 shares of the company's stock worth $36,000 after acquiring an additional 407 shares during the period. Institutional investors and hedge funds own 31.45% of the company's stock.

Ouster Company Profile

Ouster, Inc is a technology company that develops lidar sensors and software for machine perception. Its digital lidar products use laser light to create three-dimensional representations of surrounding environments, helping machines detect objects, measure distances, and operate with greater situational awareness.

The company's product portfolio includes lidar sensors for industrial automation, robotics, autonomous vehicles, transportation, mapping, and smart-infrastructure applications.

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