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

Ouster, Inc. (NYSE:OUST) 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.

Wall Street Analyst Weigh In

OUST has been the topic of several research analyst reports. Rosenblatt Securities restated a “buy” rating and issued a $17.00 price objective on shares of Ouster in a report on Friday, November 8th. Cantor Fitzgerald raised shares of Ouster from a “neutral” rating to an “overweight” rating and reduced their price target for the company from $12.00 to $10.00 in a research note on Monday, November 11th. Northland Securities started coverage on shares of Ouster in a research report on Thursday, December 12th. They set an “outperform” rating and a $14.00 price objective for the company. Finally, Northland Capmk raised Ouster to a “strong-buy” rating in a research report on Thursday, December 12th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $13.17.

Ouster Stock Up 4.9 %

The stock has a market cap of $637.57 million, a price-to-earnings ratio of -4.98 and a beta of 2.50. The business’s fifty day moving average is $8.99 and its two-hundred day moving average is $9.17.

Insiders Place Their Bets

In related news, CTO Mark Frichtl acquired 5,045 shares of the stock in a transaction dated Thursday, December 12th. The stock was acquired at an average cost of $9.78 per share, with a total value 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. This represents a 0.99 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Mark Weinswig sold 31,397 shares of the firm’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 completion of the sale, the chief financial officer now directly owns 198,650 shares in the company, valued at approximately $1,732,228. This trade represents a 13.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 80,415 shares of company stock worth $748,620 over the last 90 days. Corporate insiders own 7.81% of the company’s stock.

Institutional Investors Weigh In On Ouster

Several institutional investors have recently modified their holdings of OUST. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Ouster in the second quarter valued at $27,000. Van ECK Associates Corp raised its position in shares of Ouster by 28.4% during 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 in the last quarter. Stoneridge Investment Partners LLC purchased a new stake in Ouster during the third quarter worth approximately $67,000. True North Advisors LLC acquired a new position in Ouster in the third quarter valued at approximately $78,000. Finally, Intech Investment Management LLC purchased a new position in Ouster in the third quarter valued at approximately $81,000. 31.45% of the stock is owned by hedge funds and other institutional investors.

About Ouster

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.