Ouster (NYSE:OUST) Shares Gap Up – Time to Buy?

Ouster, Inc. (NYSE:OUST) shares gapped up before the market opened 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 changing hands.

Analyst Ratings Changes

Several brokerages recently issued reports on OUST. Cantor Fitzgerald upgraded Ouster from a “neutral” rating to an “overweight” rating and lowered their price target for the company from $12.00 to $10.00 in a research note on Monday, November 11th. Northland Securities began coverage on Ouster in a research note on Thursday, December 12th. They set an “outperform” rating and a $14.00 price target on the stock. Rosenblatt Securities restated a “buy” rating and set a $17.00 price target on shares of Ouster in a research note on Friday, November 8th. Finally, Northland Capmk upgraded Ouster to a “strong-buy” rating in a research note on Thursday, December 12th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Ouster presently has a consensus rating of “Buy” and an average target price of $13.17.

Ouster Stock Performance

The company has a market capitalization of $560.91 million, a P/E ratio of -4.39 and a beta of 2.39. The firm has a 50 day moving average price of $10.68 and a two-hundred day moving average price of $9.44.

Insider Activity

In other Ouster news, 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 cost of $9.78 per share, for a total transaction of $49,340.10. Following the transaction, the chief technology officer now directly owns 513,121 shares in the company, valued at approximately $5,018,323.38. The trade was a 0.99 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO Charles Angus Pacala purchased 50,954 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were acquired at an average price of $9.79 per share, for a total transaction of $498,839.66. Following the completion of the transaction, the chief executive officer now owns 769,957 shares in the company, valued at $7,537,879.03. The trade was a 7.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 80,415 shares of company stock worth $748,620. Company insiders own 7.81% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Barclays PLC lifted its holdings in Ouster by 280.6% during the 3rd quarter. Barclays PLC now owns 57,330 shares of the company’s stock worth $361,000 after buying an additional 42,267 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Ouster by 6.8% during the 3rd quarter. Geode Capital Management LLC now owns 975,407 shares of the company’s stock worth $6,146,000 after buying an additional 62,202 shares in the last quarter. State Street Corp lifted its holdings in Ouster by 2.4% during the 3rd quarter. State Street Corp now owns 1,649,540 shares of the company’s stock worth $10,392,000 after buying an additional 37,926 shares in the last quarter. Stifel Financial Corp lifted its holdings in Ouster by 286.7% during the 3rd quarter. Stifel Financial Corp now owns 59,718 shares of the company’s stock worth $376,000 after buying an additional 44,275 shares in the last quarter. Finally, Centiva Capital LP acquired a new position in Ouster during the 3rd quarter worth $167,000. Institutional investors and hedge funds own 31.45% of the company’s stock.

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.