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

Ouster, Inc. (NYSE:OUST)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $26.45, but opened at $29.92. Ouster shares last traded at $27.65, with a volume of 1,536,808 shares traded.

Analysts Set New Price Targets

Several research firms recently weighed in on OUST. Oppenheimer reiterated an “outperform” rating and issued a $40.00 target price on shares of Ouster in a research note on Tuesday, March 3rd. Rosenblatt Securities restated a “buy” rating and set a $40.00 price target on shares of Ouster in a research note on Tuesday, March 3rd. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Ouster has a consensus rating of “Moderate Buy” and an average target price of $40.20.

Ouster Stock Up 7.5%

The firm has a 50-day moving average of $21.76 and a 200 day moving average of $23.54. The stock has a market capitalization of $1.79 billion, a P/E ratio of -10.97 and a beta of 3.06.

Insiders Place Their Bets

In related news, CEO Charles Angus Pacala sold 24,657 shares of the stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $23.43, for a total value of $577,713.51. Following the completion of the transaction, the chief executive officer owned 960,660 shares of the company’s stock, valued at $22,508,263.80. This represents a 2.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ted L. Tewksbury III sold 1,695 shares of the firm’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $20.00, for a total transaction of $33,900.00. Following the transaction, the director owned 121,969 shares of the company’s stock, valued at approximately $2,439,380. This represents a 1.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 263,809 shares of company stock valued at $6,333,722 over the last 90 days. Company insiders own 6.63% of the company’s stock.

Institutional Trading of Ouster

A number of large investors have recently bought and sold shares of OUST. Van ECK Associates Corp raised its stake in Ouster by 17.1% during the third quarter. Van ECK Associates Corp now owns 3,590 shares of the company’s stock worth $97,000 after acquiring an additional 525 shares in the last quarter. Main Management ETF Advisors LLC boosted its stake in shares of Ouster by 1.0% in the 4th quarter. Main Management ETF Advisors LLC now owns 54,810 shares of the company’s stock valued at $1,186,000 after purchasing an additional 560 shares in the last quarter. Corient Private Wealth LLC boosted its stake in shares of Ouster by 5.5% in the 2nd quarter. Corient Private Wealth LLC now owns 11,554 shares of the company’s stock valued at $280,000 after purchasing an additional 599 shares in the last quarter. Prosperity Wealth Management Inc. grew its holdings in shares of Ouster by 5.5% in the 3rd quarter. Prosperity Wealth Management Inc. now owns 13,000 shares of the company’s stock worth $352,000 after purchasing an additional 675 shares during the last quarter. Finally, Creative Planning increased its position in shares of Ouster by 1.6% during the 3rd quarter. Creative Planning now owns 43,681 shares of the company’s stock worth $1,182,000 after purchasing an additional 677 shares in the last quarter. 31.45% of the stock is currently owned by institutional investors.

About Ouster

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.