Ouster (NYSE:OUST) Shares Gap Up Following Insider Buying Activity

Ouster, Inc. (NYSE:OUST)’s share price gapped up prior to trading on Tuesday following insider buying activity. The stock had previously closed at $9.38, but opened at $9.97. Ouster shares last traded at $10.50, with a volume of 1,512,519 shares traded.

Specifically, CEO Charles Angus Pacala purchased 50,954 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average price of $9.79 per share, with a total value of $498,839.66. Following the completion of the acquisition, the chief executive officer now directly owns 769,957 shares in the company, valued at approximately $7,537,879.03. This trade represents a 7.09 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Mark Frichtl bought 5,045 shares of the stock in a transaction dated Thursday, December 12th. The stock was purchased at an average cost of $9.78 per share, with a total value of $49,340.10. Following the completion of the purchase, the chief technology officer now directly owns 513,121 shares in the company, valued at approximately $5,018,323.38. This trade represents a 0.99 % increase in their position. The disclosure for this purchase can be found here.

Wall Street Analyst Weigh In

A number of analysts have commented on OUST shares. Northland Securities started coverage on shares of Ouster in a report on Thursday, December 12th. They set an “outperform” rating and a $14.00 target price for the company. Cantor Fitzgerald upgraded Ouster from a “neutral” rating to an “overweight” rating and decreased their target price for the stock from $12.00 to $10.00 in a research report on Monday, November 11th. Rosenblatt Securities reissued a “buy” rating and set a $17.00 price objective on shares of Ouster in a research note on Friday, November 8th. Finally, Northland Capmk upgraded shares of Ouster to a “strong-buy” rating in a report on Thursday, December 12th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $13.17.

Ouster Stock Up 11.4 %

The firm has a market capitalization of $520.11 million, a price-to-earnings ratio of -3.84 and a beta of 2.50. The business’s fifty day moving average is $8.43 and its 200 day moving average is $9.17.

Institutional Investors Weigh In On Ouster

A number of hedge funds and other institutional investors have recently bought and sold shares of OUST. GSA Capital Partners LLP acquired a new position in shares of Ouster during the 3rd quarter worth about $706,000. Renaissance Technologies LLC bought a new position in Ouster in the second quarter valued at approximately $1,217,000. Bank of New York Mellon Corp bought a new position in Ouster in the second quarter valued at approximately $1,305,000. Marshall Wace LLP raised its stake in shares of Ouster by 184.9% during the 2nd quarter. Marshall Wace LLP now owns 653,530 shares of the company’s stock worth $6,424,000 after purchasing an additional 424,178 shares in the last quarter. Finally, Ballentine Partners LLC acquired a new stake in shares of Ouster in the 2nd quarter valued at approximately $101,000. 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.