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

Ouster, Inc. (NYSE:OUST) gapped up prior to trading 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.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Cantor Fitzgerald upgraded shares of Ouster from a “neutral” rating to an “overweight” rating and lowered their target price for the stock from $12.00 to $10.00 in a research note on Monday, November 11th. Rosenblatt Securities restated a “buy” rating and set a $17.00 price objective on shares of Ouster in a research report on Friday, November 8th. Northland Capmk upgraded shares of Ouster to a “strong-buy” rating in a research report on Thursday, December 12th. Finally, Northland Securities began coverage on shares of Ouster in a research report on Thursday, December 12th. They set an “outperform” rating and a $14.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $13.17.

Ouster Trading Up 6.4 %

The company’s fifty day moving average is $10.54 and its 200 day moving average is $9.42. The company has a market cap of $568.38 million, a P/E ratio of -4.44 and a beta of 2.39.

Insider Activity at Ouster

In related news, CFO Mark Weinswig sold 31,397 shares of the stock in a transaction 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 transaction, the chief financial officer now owns 198,650 shares of the company’s stock, valued at approximately $1,732,228. This trade represents a 13.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Charles Angus Pacala bought 50,954 shares of Ouster stock in a transaction that occurred on Thursday, December 12th. The shares were acquired at an average cost of $9.79 per share, for a total transaction of $498,839.66. Following the acquisition, the chief executive officer now owns 769,957 shares in the company, valued at $7,537,879.03. The trade was a 7.09 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 80,415 shares of company stock valued at $748,620. Insiders own 7.81% of the company’s stock.

Institutional Investors Weigh In On Ouster

Large investors have recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Ouster in the 2nd quarter worth $27,000. Van ECK Associates Corp grew its holdings in Ouster by 28.4% in the 3rd quarter. Van ECK Associates Corp now owns 7,264 shares of the company’s stock worth $46,000 after acquiring an additional 1,608 shares during the last quarter. Stoneridge Investment Partners LLC bought a new stake in Ouster in the 3rd quarter worth $67,000. True North Advisors LLC bought a new stake in Ouster in the 3rd quarter worth $78,000. Finally, Intech Investment Management LLC bought a new stake in Ouster in the 3rd quarter worth $81,000. 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.