Ouster (NYSE:OUST) Shares Gap Up – Should You Buy?

Ouster, Inc. (NYSE:OUST)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $10.73, but opened at $11.45. Ouster shares last traded at $11.95, with a volume of 478,312 shares traded.

Analyst Ratings Changes

Several equities research analysts have recently commented on OUST shares. Rosenblatt Securities reissued a “buy” rating and set a $17.00 target price on shares of Ouster in a research report on Friday, November 8th. Northland Capmk raised shares of Ouster to a “strong-buy” rating in a research report on Thursday, December 12th. Northland Securities initiated coverage on shares of Ouster in a research report on Thursday, December 12th. They issued an “outperform” rating and a $14.00 price objective for the company. Finally, Cantor Fitzgerald raised shares of Ouster from a “neutral” rating to an “overweight” rating and reduced their price objective for the stock from $12.00 to $10.00 in a research report on Monday, November 11th. One investment 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 company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $13.17.

Ouster Trading Up 6.4 %

The stock’s 50-day moving average price is $10.54 and its two-hundred day moving average price is $9.42. The stock has a market capitalization of $568.38 million, a P/E ratio of -4.44 and a beta of 2.39.

Insider Activity

In related news, CFO Mark Weinswig sold 31,397 shares of the company’s stock in a transaction that occurred on 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 directly owns 198,650 shares in the company, valued at approximately $1,732,228. This represents a 13.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Charles Angus Pacala purchased 50,954 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were acquired at an average price 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 represents a 7.09 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 80,415 shares of company stock valued at $748,620 in the last three months. Company insiders own 7.81% of the company’s stock.

Institutional Trading of Ouster

Institutional investors have recently modified their holdings of the business. Geode Capital Management LLC lifted its stake in shares of Ouster by 6.8% during the 3rd quarter. Geode Capital Management LLC now owns 975,407 shares of the company’s stock valued at $6,146,000 after buying an additional 62,202 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Ouster in the 3rd quarter worth approximately $706,000. Barclays PLC lifted its stake in Ouster by 280.6% in the 3rd quarter. Barclays PLC now owns 57,330 shares of the company’s stock worth $361,000 after purchasing an additional 42,267 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in Ouster in the 2nd quarter worth approximately $1,217,000. Finally, Stifel Financial Corp lifted its stake in Ouster by 286.7% in the 3rd quarter. Stifel Financial Corp now owns 59,718 shares of the company’s stock worth $376,000 after purchasing an additional 44,275 shares in the last quarter. 31.45% of the stock is currently owned by hedge funds and other 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.