Ouster (NYSE:OUST) Shares Gap Up – Here’s What Happened

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 trading hands.

Analysts Set New Price Targets

A number of research analysts have commented on OUST shares. Rosenblatt Securities restated a “buy” rating and issued a $17.00 target price on shares of Ouster in a research note on Friday, November 8th. Northland Securities started coverage on Ouster in a research note on Thursday, December 12th. They issued an “outperform” rating and a $14.00 target price on the stock. Northland Capmk upgraded Ouster to a “strong-buy” rating in a research note on Thursday, December 12th. Finally, Cantor Fitzgerald upgraded Ouster from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $12.00 to $10.00 in a research note 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 stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $13.17.

Ouster Stock Down 1.4 %

The business has a 50-day simple moving average of $10.68 and a two-hundred day simple moving average of $9.44. The company has a market cap of $560.91 million, a price-to-earnings ratio of -4.39 and a beta of 2.39.

Insiders Place Their Bets

In related news, CFO Mark Weinswig sold 31,397 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $8.72, for a total transaction of $273,781.84. Following the completion of the transaction, the chief financial officer now owns 198,650 shares of the company’s stock, valued at approximately $1,732,228. The trade was 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 hyperlink. Also, CEO Charles Angus Pacala acquired 50,954 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were acquired at an average cost of $9.79 per share, with a total value of $498,839.66. Following the transaction, the chief executive officer now directly 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. Insiders sold 80,415 shares of company stock valued at $748,620 over the last quarter. Insiders own 7.81% of the company’s stock.

Hedge Funds Weigh In On Ouster

Several large investors have recently made changes to their positions in the business. Van ECK Associates Corp lifted 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 purchasing an additional 1,608 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Ouster during the 2nd quarter worth about $27,000. Stoneridge Investment Partners LLC acquired a new position in shares of Ouster during the 3rd quarter worth about $67,000. True North Advisors LLC bought a new position in Ouster during the third quarter valued at about $78,000. Finally, American Century Companies Inc. increased its stake in Ouster by 38.5% during the second quarter. American Century Companies Inc. now owns 45,615 shares of the company’s stock valued at $448,000 after acquiring an additional 12,691 shares during the period. Institutional investors and hedge funds 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.