Ouster (NYSE:OUST) Shares Gap Up - Here's What Happened

Ouster, Inc. (NYSE:OUST - Get Free Report)'s share price 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 trading hands.

Wall Street Analysts Forecast Growth

OUST has been the subject of several recent research reports. Northland Securities began coverage on shares of Ouster in a research report on Thursday, December 12th. They issued an "outperform" rating and a $14.00 price target for the company. Cantor Fitzgerald raised Ouster from a "neutral" rating to an "overweight" rating and dropped their target price for the stock from $12.00 to $10.00 in a report on Monday, November 11th. Northland Capmk upgraded Ouster to a "strong-buy" rating in a research report on Thursday, December 12th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $17.00 price target on shares of Ouster in a research report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $13.17.

Ouster Trading Down 5.9 %

The firm has a fifty day moving average price of $10.68 and a 200 day moving average price of $9.44. The firm has a market capitalization of $527.62 million, a price-to-earnings ratio of -4.12 and a beta of 2.39.

Insider Transactions at Ouster

In other news, General Counsel Megan Chung sold 13,671 shares of the company's stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $9.69, for a total transaction of $132,471.99. Following the transaction, the general counsel now owns 149,647 shares of the company's stock, valued at $1,450,079.43. This represents a 8.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Mark Weinswig sold 31,397 shares of the business's stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $8.72, for a total value of $273,781.84. Following the sale, the chief financial officer now directly owns 198,650 shares of the company's stock, valued at $1,732,228. This represents a 13.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 80,415 shares of company stock worth $748,620. Insiders own 7.81% of the company's stock.

Institutional Investors Weigh In On Ouster

Institutional investors have recently modified their holdings of the business. Geode Capital Management LLC grew its stake in shares of Ouster by 6.8% during the third quarter. Geode Capital Management LLC now owns 975,407 shares of the company's stock worth $6,146,000 after purchasing an additional 62,202 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Ouster during the 3rd quarter worth about $706,000. Barclays PLC increased its stake in shares of Ouster by 280.6% in the 3rd quarter. Barclays PLC now owns 57,330 shares of the company's stock valued at $361,000 after acquiring an additional 42,267 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Ouster in the 2nd quarter valued at approximately $1,217,000. Finally, Stifel Financial Corp raised its position in shares of Ouster by 286.7% in the 3rd quarter. Stifel Financial Corp now owns 59,718 shares of the company's stock valued at $376,000 after acquiring an additional 44,275 shares during the period. 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.