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

Ouster, Inc. (NASDAQ:OUST) gapped up before the market opened on Monday . The stock had previously closed at $39.80, but opened at $44.10. Ouster shares last traded at $46.08, with a volume of 1,316,619 shares traded.

Analyst Upgrades and Downgrades

OUST has been the topic of a number of analyst reports. Oppenheimer reaffirmed an “outperform” rating and set a $40.00 target price on shares of Ouster in a research report on Tuesday, March 3rd. Roth Mkm initiated coverage on Ouster in a research report on Friday, May 29th. They set a “buy” rating and a $75.00 target price on the stock. Cantor Fitzgerald lowered Ouster from an “overweight” rating to a “neutral” rating in a research report on Thursday, May 7th. Rosenblatt Securities lifted their target price on Ouster from $40.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Finally, Weiss Ratings started coverage on Ouster in a research note on Friday, May 15th. They issued a “sell (d-)” rating for the company. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $48.17.

Ouster Stock Up 16.4%

The company has a 50 day simple moving average of $31.19 and a 200-day simple moving average of $25.32. The stock has a market cap of $2.91 billion, a price-to-earnings ratio of -47.67 and a beta of 3.24.

Insider Activity

In other Ouster news, CRO Cyrille Jacquemet sold 9,433 shares of Ouster stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $40.00, for a total value of $377,320.00. Following the completion of the transaction, the executive directly owned 123,158 shares in the company, valued at $4,926,320. The trade was a 7.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Darien Spencer sold 30,000 shares of Ouster stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $45.00, for a total value of $1,350,000.00. Following the completion of the transaction, the chief operating officer owned 342,366 shares of the company’s stock, valued at approximately $15,406,470. The trade was a 8.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 866,457 shares of company stock valued at $30,104,534 over the last three months. Company insiders own 5.72% of the company’s stock.

Hedge Funds Weigh In On Ouster

A number of hedge funds and other institutional investors have recently bought and sold shares of OUST. NewEdge Advisors LLC boosted its stake in Ouster by 2,532.6% in the second quarter. NewEdge Advisors LLC now owns 1,132 shares of the company’s stock valued at $27,000 after acquiring an additional 1,089 shares during the period. Larson Financial Group LLC boosted its stake in Ouster by 118.8% in the fourth quarter. Larson Financial Group LLC now owns 1,965 shares of the company’s stock valued at $43,000 after acquiring an additional 1,067 shares during the period. Gordian Capital Singapore Pte Ltd boosted its stake in Ouster by 38.1% in the third quarter. Gordian Capital Singapore Pte Ltd now owns 2,900 shares of the company’s stock valued at $78,000 after acquiring an additional 800 shares during the period. SHP Wealth Management acquired a new position in Ouster in the fourth quarter valued at approximately $96,000. Finally, Van ECK Associates Corp grew its holdings in Ouster by 17.1% in the 3rd quarter. Van ECK Associates Corp now owns 3,590 shares of the company’s stock worth $97,000 after buying an additional 525 shares in the last quarter. 31.45% of the stock is currently owned by institutional investors and hedge funds.

Ouster Company Profile

Ouster, Inc is a leading provider of high-resolution digital lidar sensors, software and services designed to enable advanced perception capabilities across a range of industries. Headquartered in San Francisco, California, the company develops modular lidar solutions that capture precise three-dimensional data in real time, supporting applications from autonomous vehicles and robotics to mapping, smart infrastructure and industrial automation.

The company’s core product lineup features multi-beam digital lidar units available in various form factors, including compact models for robotics and drones and larger units for automotive and mapping systems.