Ouster (NYSE:OUST) Stock Price Down 5.4% - What's Next?

Ouster, Inc. (NYSE:OUST - Get Free Report) dropped 5.4% on Wednesday . The stock traded as low as $10.61 and last traded at $10.63. Approximately 257,747 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 1,364,402 shares. The stock had previously closed at $11.23.

Wall Street Analysts Forecast Growth

A number of analysts have commented on OUST shares. Cantor Fitzgerald lifted their target price on shares of Ouster from $10.00 to $11.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. Northland Securities initiated coverage on shares of Ouster in a report on Thursday, December 12th. They set an "outperform" rating and a $14.00 price objective for the company. Northland Capmk upgraded shares of Ouster to a "strong-buy" rating in a report on Thursday, December 12th. Westpark Capital initiated coverage on shares of Ouster in a research report on Monday, March 17th. They set a "hold" rating on the stock. Finally, Oppenheimer initiated coverage on shares of Ouster in a research report on Thursday. They issued an "outperform" rating and a $16.00 price objective for the company. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Ouster presently has a consensus rating of "Moderate Buy" and a consensus target price of $13.71.

Ouster Stock Performance

The stock has a market cap of $474.82 million, a price-to-earnings ratio of -3.71 and a beta of 2.38. The business has a 50-day simple moving average of $9.36 and a two-hundred day simple moving average of $9.09.

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Insider Transactions at Ouster

In related news, General Counsel Megan Chung sold 5,800 shares of the stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $11.24, for a total transaction of $65,192.00. Following the completion of the transaction, the general counsel now directly owns 220,762 shares of the company's stock, valued at approximately $2,481,364.88. This represents a 2.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 9,099 shares of company stock valued at $90,460 over the last 90 days. 7.81% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ouster

Several hedge funds and other institutional investors have recently made changes to their positions in OUST. Intech Investment Management LLC bought a new stake in shares of Ouster in the 3rd quarter valued at about $81,000. Charles Schwab Investment Management Inc. raised its stake in Ouster by 10.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 356,407 shares of the company's stock valued at $2,245,000 after buying an additional 34,743 shares during the period. Centiva Capital LP bought a new stake in Ouster in the third quarter valued at approximately $167,000. Stifel Financial Corp lifted its position in shares of Ouster by 286.7% in the third quarter. Stifel Financial Corp now owns 59,718 shares of the company's stock valued at $376,000 after buying an additional 44,275 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Ouster by 2.4% during the 3rd quarter. State Street Corp now owns 1,649,540 shares of the company's stock worth $10,392,000 after acquiring an additional 37,926 shares during the period. 31.45% of the stock is owned by institutional investors.

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.