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

Ouster, Inc. (NYSE:OUST) shares gapped up prior to trading on Wednesday . The stock had previously closed at $27.68, but opened at $31.00. Ouster shares last traded at $27.4230, with a volume of 975,290 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Westpark Capital reaffirmed a “buy” rating and set a $50.00 price objective on shares of Ouster in a research report on Wednesday. Oppenheimer restated an “outperform” rating and set a $39.00 target price on shares of Ouster in a research note on Wednesday. Zacks Research downgraded shares of Ouster from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. Northland Securities set a $38.00 target price on Ouster in a research note on Wednesday. Finally, Cantor Fitzgerald set a $33.00 target price on Ouster in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $32.17.

Ouster Trading Up 6.5%

The company has a market cap of $1.49 billion, a P/E ratio of -10.00 and a beta of 2.74. The company has a 50 day moving average price of $30.52 and a 200-day moving average price of $23.40.

Insider Activity at Ouster

In other Ouster news, CEO Charles Angus Pacala sold 37,992 shares of the company’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $28.46, for a total value of $1,081,252.32. Following the completion of the transaction, the chief executive officer owned 1,009,927 shares of the company’s stock, valued at $28,742,522.42. This represents a 3.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Darien Spencer sold 18,274 shares of Ouster stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $28.46, for a total value of $520,078.04. Following the sale, the chief operating officer directly owned 346,132 shares in the company, valued at $9,850,916.72. The trade was a 5.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 104,615 shares of company stock valued at $2,992,286. Company insiders own 6.63% of the company’s stock.

Hedge Funds Weigh In On Ouster

Hedge funds have recently modified their holdings of the business. Corient Private Wealth LLC grew its stake in Ouster by 5.5% in the second quarter. Corient Private Wealth LLC now owns 11,554 shares of the company’s stock valued at $280,000 after acquiring an additional 599 shares during the period. Nisa Investment Advisors LLC grew its position in Ouster by 153.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,211 shares of the company’s stock valued at $29,000 after purchasing an additional 733 shares during the period. Penserra Capital Management LLC increased its stake in Ouster by 0.8% during the 3rd quarter. Penserra Capital Management LLC now owns 99,681 shares of the company’s stock valued at $2,696,000 after purchasing an additional 827 shares in the last quarter. Ameritas Investment Partners Inc. increased its stake in Ouster by 22.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,189 shares of the company’s stock valued at $126,000 after purchasing an additional 950 shares in the last quarter. Finally, NewEdge Advisors LLC raised its holdings in Ouster by 2,532.6% during the second quarter. NewEdge Advisors LLC now owns 1,132 shares of the company’s stock worth $27,000 after buying an additional 1,089 shares during the last quarter. 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.