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

Shares of Ouster, Inc. (NASDAQ:OUST) gapped up prior to trading 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.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Roth Mkm assumed coverage on Ouster in a report on Friday, May 29th. They issued a “buy” rating and a $75.00 price objective for the company. Oppenheimer reissued an “outperform” rating and issued a $40.00 price objective on shares of Ouster in a report on Tuesday, March 3rd. Cantor Fitzgerald lowered Ouster from an “overweight” rating to a “neutral” rating in a report on Thursday, May 7th. Rosenblatt Securities upped 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 report on Friday, May 15th. They issued a “sell (d-)” rating for the company. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $48.17.

Ouster Stock Up 16.4%

The stock has a market capitalization of $2.91 billion, a price-to-earnings ratio of -47.67 and a beta of 3.24. The business has a 50-day simple moving average of $31.19 and a two-hundred day simple moving average of $25.32.

Insider Transactions at Ouster

In other Ouster news, CTO Mark Frichtl sold 308,742 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $41.53, for a total value of $12,822,055.26. Following the completion of the sale, the chief technology officer directly owned 294,924 shares in the company, valued at $12,248,193.72. This represents a 51.14% 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 Susan Heystee sold 9,316 shares of the stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $34.80, for a total value of $324,196.80. Following the sale, the director owned 35,094 shares of the company’s stock, valued at $1,221,271.20. This trade represents a 20.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 866,457 shares of company stock valued at $30,104,534 over the last three months. 5.72% of the stock is owned by company insiders.

Institutional Trading of Ouster

A number of hedge funds have recently modified their holdings of the business. NewEdge Advisors LLC increased its stake in shares of Ouster by 2,532.6% in the second quarter. NewEdge Advisors LLC now owns 1,132 shares of the company’s stock worth $27,000 after acquiring an additional 1,089 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of Ouster by 118.8% during the fourth quarter. Larson Financial Group LLC now owns 1,965 shares of the company’s stock worth $43,000 after acquiring an additional 1,067 shares in the last quarter. Gordian Capital Singapore Pte Ltd raised its holdings in shares of Ouster by 38.1% during the third quarter. Gordian Capital Singapore Pte Ltd now owns 2,900 shares of the company’s stock worth $78,000 after acquiring an additional 800 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of 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. Finally, Banque Cantonale Vaudoise purchased a new stake in shares of Ouster during the third quarter worth $120,000. Hedge funds and other institutional investors own 31.45% of the company’s stock.

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.