Ouster (NYSE:OUST) Trading Down 6.5% – What’s Next?

Ouster, Inc. (NYSE:OUST) shares fell 6.5% on Friday . The company traded as low as $10.20 and last traded at $10.33. 1,506,159 shares changed hands during trading, a decline of 1% from the average session volume of 1,521,179 shares. The stock had previously closed at $11.05.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on OUST. Cantor Fitzgerald upgraded Ouster from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $12.00 to $10.00 in a report on Monday, November 11th. Northland Capmk raised shares of Ouster to a “strong-buy” rating in a research report on Thursday, December 12th. Northland Securities initiated coverage on shares of Ouster in a research note on Thursday, December 12th. They issued an “outperform” rating and a $14.00 price objective for the company. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $17.00 target price on shares of Ouster in a research note on Friday, November 8th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $13.17.

Ouster Stock Performance

The business has a 50-day simple moving average of $10.99 and a two-hundred day simple moving average of $9.22. The company has a market capitalization of $517.11 million, a price-to-earnings ratio of -4.04 and a beta of 2.36.

Ouster (NYSE:OUST) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.54) earnings per share for the quarter. Ouster had a negative net margin of 106.50% and a negative return on equity of 65.17%. The business had revenue of $28.08 million during the quarter. During the same quarter in the previous year, the company earned ($0.89) earnings per share. Research analysts predict that Ouster, Inc. will post -2.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other Ouster news, COO Darien Spencer sold 14,869 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $9.69, for a total value of $144,080.61. Following the transaction, the chief operating officer now directly owns 291,718 shares in the company, valued at approximately $2,826,747.42. This represents a 4.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Charles Angus Pacala acquired 50,954 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was purchased at an average cost of $9.79 per share, with a total value of $498,839.66. Following the transaction, the chief executive officer now owns 769,957 shares of the company’s stock, valued at approximately $7,537,879.03. The trade was a 7.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 80,415 shares of company stock worth $748,620. 7.81% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ouster

A number of large investors have recently bought and sold shares of OUST. New York State Common Retirement Fund raised its stake in shares of Ouster by 25.8% in the 4th quarter. New York State Common Retirement Fund now owns 759,491 shares of the company’s stock valued at $9,281,000 after acquiring an additional 155,640 shares during the period. GSA Capital Partners LLP purchased a new position in Ouster in the third quarter valued at about $706,000. Essex Investment Management Co. LLC lifted its stake in shares of Ouster by 66.7% during the fourth quarter. Essex Investment Management Co. LLC now owns 275,433 shares of the company’s stock worth $3,366,000 after purchasing an additional 110,181 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Ouster in the fourth quarter worth about $1,118,000. Finally, Geode Capital Management LLC grew its stake in shares of Ouster by 6.8% in the third quarter. Geode Capital Management LLC now owns 975,407 shares of the company’s stock valued at $6,146,000 after buying an additional 62,202 shares in the last quarter. Hedge funds and other institutional investors 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.