Ouster (NYSE:OUST) Shares Gap Up - Time to Buy?

Ouster, Inc. (NYSE:OUST - Get Free Report)'s share price gapped up before the market opened on Friday . The stock had previously closed at $10.72, but opened at $11.07. Ouster shares last traded at $10.95, with a volume of 148,814 shares.

Analyst Ratings Changes

Several research firms have recently issued reports on OUST. Cantor Fitzgerald upgraded Ouster from a "neutral" rating to an "overweight" rating and decreased their price objective 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 report on Thursday, December 12th. Rosenblatt Securities reiterated a "buy" rating and issued a $17.00 target price on shares of Ouster in a report on Friday, November 8th. Finally, Northland Securities initiated coverage on Ouster in a report on Thursday, December 12th. They issued an "outperform" rating and a $14.00 target price on the stock. One equities research 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. According to MarketBeat, Ouster currently has a consensus rating of "Buy" and a consensus price target of $13.17.

Ouster Stock Down 2.4 %

The stock has a fifty day moving average of $10.87 and a two-hundred day moving average of $9.48. The stock has a market cap of $520.59 million, a price-to-earnings ratio of -4.07 and a beta of 2.39.

Ouster (NYSE:OUST - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.54) EPS for the quarter. Ouster had a negative return on equity of 65.17% and a negative net margin of 106.50%. The business had revenue of $28.08 million during the quarter. During the same quarter last year, the business posted ($0.89) EPS. Equities research analysts anticipate that Ouster, Inc. will post -2.2 EPS for the current fiscal year.

Insider Buying and Selling

In other Ouster news, CFO Mark Weinswig sold 31,397 shares of the company's stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $8.72, for a total transaction of $273,781.84. Following the sale, the chief financial officer now owns 198,650 shares in the company, valued at $1,732,228. This represents a 13.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Mark Frichtl acquired 5,045 shares of the business's stock in a transaction on Thursday, December 12th. The shares were purchased at an average price of $9.78 per share, for a total transaction of $49,340.10. Following the purchase, the chief technology officer now directly owns 513,121 shares of the company's stock, valued at $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. Over the last 90 days, insiders have sold 80,415 shares of company stock worth $748,620. 7.81% of the stock is currently owned by corporate insiders.

Institutional Trading of Ouster

Institutional investors and hedge funds have recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Ouster during the 2nd quarter worth approximately $27,000. Van ECK Associates Corp grew its holdings in 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 in the last quarter. Stoneridge Investment Partners LLC bought a new position in Ouster in the 3rd quarter worth approximately $67,000. True North Advisors LLC bought a new position in Ouster in the 3rd quarter worth approximately $78,000. Finally, Intech Investment Management LLC bought a new position in Ouster in the 3rd quarter worth approximately $81,000. 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.