Ouster (NYSE:OUST) Shares Gap Up – Still a Buy?

Ouster, Inc. (NYSE:OUST)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $10.42, but opened at $12.11. Ouster shares last traded at $11.66, with a volume of 494,053 shares.

Analyst Upgrades and Downgrades

OUST has been the subject of a number of recent research reports. Rosenblatt Securities reissued a “buy” rating and set a $17.00 price target on shares of Ouster in a research note on Friday, November 8th. Cantor Fitzgerald upgraded Ouster from a “neutral” rating to an “overweight” rating and reduced their price target for the stock from $12.00 to $10.00 in a research report on Monday, November 11th. Northland Securities initiated coverage on Ouster in a report on Thursday, December 12th. They set an “outperform” rating and a $14.00 target price on the stock. Finally, Northland Capmk upgraded shares of Ouster to a “strong-buy” rating in a 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $13.17.

Ouster Stock Performance

The stock has a market capitalization of $577.84 million, a P/E ratio of -4.52 and a beta of 2.50. The firm’s 50-day simple moving average is $8.77 and its 200 day simple moving average is $9.15.

Insider Transactions at Ouster

In other Ouster news, CTO Mark Frichtl bought 5,045 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were acquired at an average cost of $9.78 per share, with a total value of $49,340.10. Following the acquisition, the chief technology officer now owns 513,121 shares of the company’s stock, valued at $5,018,323.38. The trade was a 0.99 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Megan Chung sold 13,671 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $9.69, for a total transaction of $132,471.99. Following the completion of the transaction, the general counsel now owns 149,647 shares in the company, valued at approximately $1,450,079.43. This trade represents a 8.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 80,415 shares of company stock worth $748,620 in the last 90 days. Corporate insiders own 7.81% of the company’s stock.

Institutional Investors Weigh In On Ouster

Several institutional investors and hedge funds have recently added to or reduced their stakes in OUST. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Ouster in the 2nd quarter valued at approximately $27,000. Van ECK Associates Corp lifted its holdings in shares of Ouster by 28.4% during the third quarter. Van ECK Associates Corp now owns 7,264 shares of the company’s stock worth $46,000 after purchasing an additional 1,608 shares during the period. Stoneridge Investment Partners LLC acquired a new stake in Ouster during the 3rd quarter valued at approximately $67,000. True North Advisors LLC bought a new position in Ouster during the 3rd quarter worth approximately $78,000. Finally, Intech Investment Management LLC bought a new stake in shares of Ouster in the 3rd quarter valued at $81,000. 31.45% of the stock is currently 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.