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

Ouster, Inc. (NYSE:OUST - Get Free Report)'s stock 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 changing hands.

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

Wall Street Analysts Forecast Growth

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

Ouster Stock Performance

The company has a market capitalization of $546.73 million, a PE ratio of -4.27 and a beta of 2.50. The stock has a fifty day moving average of $8.52 and a 200 day moving average of $9.17.

Hedge Funds Weigh In On Ouster

Hedge funds and other institutional investors have recently modified their holdings of the stock. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Ouster during the 2nd quarter valued at approximately $27,000. Van ECK Associates Corp increased its holdings in shares of Ouster by 28.4% in the 3rd quarter. Van ECK Associates Corp now owns 7,264 shares of the company's stock worth $46,000 after buying an additional 1,608 shares during the last quarter. Stoneridge Investment Partners LLC purchased a new stake in shares of Ouster during the 3rd quarter valued at about $67,000. True North Advisors LLC bought a new position in shares of Ouster in the 3rd quarter valued at about $78,000. Finally, Intech Investment Management LLC purchased a new position in Ouster in the third quarter worth about $81,000. Institutional investors 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.