Ouster (NYSE:OUST) Shares Down 5.4% – Should You Sell?

Shares of Ouster, Inc. (NYSE:OUST) dropped 5.4% during mid-day trading on Wednesday . The company traded as low as $10.61 and last traded at $10.63. Approximately 257,747 shares changed hands during 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

OUST has been the subject of several research analyst reports. Westpark Capital assumed coverage on shares of Ouster in a report on Monday, March 17th. They issued a “hold” rating for the company. Cantor Fitzgerald upped their price target on shares of Ouster from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. Oppenheimer began coverage on shares of Ouster in a research note on Thursday. They set an “outperform” rating and a $16.00 price objective on the stock. Northland Securities assumed coverage on Ouster in a research report on Thursday, December 12th. They issued an “outperform” rating and a $14.00 target price for the company. Finally, Northland Capmk raised Ouster to a “strong-buy” rating in a research note on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $13.71.

Ouster Stock Down 6.0 %

The stock has a market cap of $496.71 million, a price-to-earnings ratio of -3.88 and a beta of 2.38. The company’s 50-day simple moving average is $9.38 and its 200-day simple moving average is $9.05.

Hedge Funds Weigh In On Ouster

Hedge funds have recently modified their holdings of the stock. Barclays PLC lifted its holdings in shares of Ouster by 280.6% during the third quarter. Barclays PLC now owns 57,330 shares of the company’s stock valued at $361,000 after purchasing an additional 42,267 shares during the last quarter. Geode Capital Management LLC raised its holdings in Ouster by 6.8% during the 3rd quarter. Geode Capital Management LLC now owns 975,407 shares of the company’s stock worth $6,146,000 after buying an additional 62,202 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Ouster by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 367,388 shares of the company’s stock valued at $4,489,000 after buying an additional 10,981 shares in the last quarter. Stifel Financial Corp boosted its holdings in shares of Ouster by 286.7% in the third quarter. Stifel Financial Corp now owns 59,718 shares of the company’s stock worth $376,000 after buying an additional 44,275 shares during the period. Finally, State Street Corp increased its position in shares of Ouster by 2.4% in the third 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 in the last quarter. 31.45% of the stock is currently owned by institutional investors and hedge funds.

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.