Insider Buying: Ouster, Inc. (NYSE:OUST) CTO Buys $49,340.10 in Stock

Ouster, Inc. (NYSE:OUST) CTO Mark Frichtl purchased 5,045 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were acquired at an average price of $9.78 per share, for a total transaction of $49,340.10. Following the completion of the transaction, the chief technology officer now owns 513,121 shares in the company, valued at $5,018,323.38. The trade was a 0.99 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

Ouster Stock Down 5.6 %

Ouster stock opened at $10.38 on Thursday. The stock has a market cap of $516.62 million, a price-to-earnings ratio of -4.04 and a beta of 2.50. Ouster, Inc. has a 12-month low of $4.65 and a 12-month high of $16.88. The business’s 50-day simple moving average is $8.60 and its 200 day simple moving average is $9.18.

Wall Street Analyst Weigh In

OUST has been the topic of a number of recent analyst reports. Northland Capmk raised Ouster to a “strong-buy” rating in a research note on Thursday, December 12th. Cantor Fitzgerald upgraded shares of 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 began 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, Rosenblatt Securities reaffirmed a “buy” rating and issued a $17.00 target price on shares of Ouster in a research note on Friday, November 8th. One 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $13.17.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of OUST. SG Americas Securities LLC raised its stake in shares of Ouster by 783.0% during the second quarter. SG Americas Securities LLC now owns 99,063 shares of the company’s stock worth $974,000 after buying an additional 87,844 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Ouster in the second quarter valued at approximately $1,305,000. Van ECK Associates Corp acquired a new stake in Ouster during the 2nd quarter worth $56,000. Fairhaven Wealth Management LLC bought a new stake in shares of Ouster during the 2nd quarter valued at $131,000. Finally, Rhumbline Advisers acquired a new position in shares of Ouster in the 2nd quarter valued at $598,000. 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.