Ouster (NYSE:OUST) Stock Price Down 6.5% - Time to Sell?

Shares of Ouster, Inc. (NYSE:OUST - Get Free Report) dropped 6.5% during mid-day trading on Friday . The company traded as low as $10.20 and last traded at $10.33. Approximately 1,506,159 shares changed hands during trading, a decline of 1% from the average daily volume of 1,521,179 shares. The stock had previously closed at $11.05.

Analysts Set New Price Targets

OUST has been the subject of a number of recent research reports. Northland Securities initiated coverage on shares of Ouster in a research report on Thursday, December 12th. They set an "outperform" rating and a $14.00 price objective for the company. Rosenblatt Securities reissued a "buy" rating and set a $17.00 price objective on shares of Ouster in a research report on Friday, November 8th. Cantor Fitzgerald raised shares of 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 research report on Monday, November 11th. Finally, Northland Capmk raised shares of Ouster to a "strong-buy" rating in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Ouster currently has a consensus rating of "Buy" and an average price target of $13.17.

Ouster Stock Performance

The company has a market cap of $483.27 million, a P/E ratio of -3.78 and a beta of 2.36. The firm's fifty day moving average is $11.01 and its two-hundred day moving average is $9.11.

Insider Buying and Selling

In other Ouster news, CFO Mark Weinswig sold 31,397 shares of the business's stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $8.72, for a total value of $273,781.84. Following the sale, the chief financial officer now owns 198,650 shares in the company, valued at $1,732,228. The trade was a 13.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Charles Angus Pacala purchased 50,954 shares of the firm's stock in a transaction on Thursday, December 12th. The stock was bought at an average price of $9.79 per share, for a total transaction of $498,839.66. Following the purchase, the chief executive officer now owns 769,957 shares in the company, valued at approximately $7,537,879.03. This represents a 7.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders sold 80,415 shares of company stock valued at $748,620. Company insiders own 7.81% of the company's stock.

Institutional Trading of Ouster

Several hedge funds have recently bought and sold shares of OUST. The Manufacturers Life Insurance Company purchased a new stake in Ouster in the 2nd quarter worth $163,000. Lake Street Advisors Group LLC raised its position in shares of Ouster by 150.0% during the 3rd quarter. Lake Street Advisors Group LLC now owns 25,000 shares of the company's stock valued at $158,000 after buying an additional 15,000 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Ouster by 28.4% during the 3rd quarter. Van ECK Associates Corp now owns 7,264 shares of the company's stock valued at $46,000 after buying an additional 1,608 shares in the last quarter. Stoneridge Investment Partners LLC purchased a new stake in shares of Ouster during the 3rd quarter valued at about $67,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Ouster during the 3rd quarter valued at about $706,000. Hedge funds and other institutional investors own 31.45% of the company's stock.

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.