Ouster (NYSE:OUST) Trading Down 3.2% - Time to Sell?

Ouster, Inc. (NYSE:OUST - Get Free Report)'s share price traded down 3.2% during trading on Friday . The company traded as low as $10.95 and last traded at $10.91. 266,944 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 1,860,575 shares. The stock had previously closed at $11.27.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Rosenblatt Securities reaffirmed a "buy" rating and issued a $17.00 price objective on shares of Ouster in a report on Friday, November 8th. Cantor Fitzgerald raised shares of Ouster from a "neutral" rating to an "overweight" rating and decreased their price objective for the stock from $12.00 to $10.00 in a report on Monday, November 11th. Northland Securities assumed coverage on shares of Ouster in a report on Thursday, December 12th. They issued an "outperform" rating and a $14.00 price objective for the company. Finally, Northland Capmk raised shares of Ouster to a "strong-buy" rating in a report on Thursday, December 12th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Ouster has a consensus rating of "Buy" and a consensus price target of $13.17.

Ouster Price Performance

The company has a market cap of $527.56 million, a price-to-earnings ratio of -4.12 and a beta of 2.39. The firm's fifty day moving average price is $10.74 and its 200-day moving average price is $9.45.

Insider Activity

In related news, CEO Charles Angus Pacala acquired 50,954 shares of the business's stock in a transaction that occurred on Thursday, December 12th. The shares were acquired at an average cost of $9.79 per share, for a total transaction of $498,839.66. Following the completion of the purchase, the chief executive officer now directly owns 769,957 shares in the company, valued at $7,537,879.03. This trade represents a 7.09 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Mark Weinswig sold 31,397 shares of Ouster stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $8.72, for a total transaction of $273,781.84. Following the sale, the chief financial officer now owns 198,650 shares in the company, valued at approximately $1,732,228. This represents a 13.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 80,415 shares of company stock valued at $748,620. 7.81% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ouster

Hedge funds and other institutional investors have recently modified their holdings of the stock. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Ouster during the second quarter valued at about $27,000. Van ECK Associates Corp raised its position in Ouster by 28.4% in the third quarter. Van ECK Associates Corp now owns 7,264 shares of the company's stock worth $46,000 after acquiring an additional 1,608 shares in the last quarter. Stoneridge Investment Partners LLC bought a new stake in Ouster in the third quarter worth about $67,000. True North Advisors LLC bought a new stake in Ouster in the third quarter worth about $78,000. Finally, Intech Investment Management LLC bought a new stake in Ouster in the third quarter worth about $81,000. 31.45% of the stock is currently owned by institutional investors.

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.