Ouster (NYSE:OUST) Stock Price Down 3.7% – Here’s Why

by · The Cerbat Gem

Ouster, Inc. (NYSE:OUST – Get Free Report)’s share price traded down 3.7% on Tuesday . The stock traded as low as $10.42 and last traded at $10.54. 181,611 shares were traded during trading, a decline of 86% from the average session volume of 1,278,723 shares. The stock had previously closed at $10.94.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on OUST. Westpark Capital raised Ouster from a “hold” rating to a “buy” rating and set a $13.68 price objective on the stock in a research note on Friday, May 9th. UBS Group set a $16.00 price target on shares of Ouster in a research report on Thursday, March 27th. Rosenblatt Securities restated a “buy” rating and set a $17.00 price objective on shares of Ouster in a research report on Friday, March 21st. Oppenheimer started coverage on shares of Ouster in a report on Thursday, March 27th. They issued an “outperform” rating and a $16.00 target price on the stock. Finally, Cantor Fitzgerald raised their price target on shares of Ouster from $10.00 to $11.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $14.10.

Check Out Our Latest Stock Analysis on OUST

Ouster Stock Up 0.5%

The company has a market cap of $534.17 million, a PE ratio of -3.86 and a beta of 2.25. The firm has a fifty day simple moving average of $8.60 and a 200-day simple moving average of $9.49.

Insiders Place Their Bets

In other news, General Counsel Megan Chung sold 5,800 shares of the firm’s stock in a transaction 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 sale, the general counsel now owns 220,762 shares in the company, valued at $2,481,364.88. This trade represents a 2.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders have sold 9,099 shares of company stock worth $90,460. 7.81% of the stock is owned by company insiders.

Institutional Trading of Ouster

Institutional investors and hedge funds have recently made changes to their positions in the company. Byrne Asset Management LLC purchased a new stake in shares of Ouster during the 1st quarter worth about $39,000. FNY Investment Advisers LLC acquired a new stake in shares of Ouster in the first quarter worth $49,000. Daiwa Securities Group Inc. raised its stake in shares of Ouster by 18.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 6,977 shares of the company’s stock valued at $85,000 after acquiring an additional 1,063 shares during the period. AlphaQuest LLC increased its holdings in Ouster by 27.8% in the 1st quarter. AlphaQuest LLC now owns 10,566 shares of the company’s stock valued at $95,000 after purchasing an additional 2,296 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of Ouster during the first quarter worth about $97,000. 31.45% of the stock is currently owned by institutional investors and hedge funds.

Ouster Company Profile

(Get Free Report)

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.

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