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 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 traded.

Wall Street Analysts Forecast Growth

OUST has been the topic of a number of recent analyst reports. Cantor Fitzgerald upgraded Ouster from a "neutral" rating to an "overweight" rating and dropped their price objective for the stock from $12.00 to $10.00 in a research note on Monday, November 11th. Rosenblatt Securities restated a "buy" rating and issued a $17.00 price objective on shares of Ouster in a research report on Friday, November 8th. Northland Securities assumed coverage on shares of Ouster in a research report on Thursday, December 12th. They set an "outperform" rating and a $14.00 target price on the stock. Finally, Northland Capmk upgraded shares of Ouster to a "strong-buy" rating in a research report on Thursday, December 12th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $13.17.

Ouster Stock Up 6.5 %

The firm has a market capitalization of $568.88 million, a price-to-earnings ratio of -4.45 and a beta of 2.39. The company's fifty day moving average is $10.54 and its two-hundred day moving average is $9.42.

Insider Activity

In other news, CEO Charles Angus Pacala purchased 50,954 shares of Ouster stock in a transaction dated Thursday, December 12th. The shares were bought at an average cost of $9.79 per share, with a total value of $498,839.66. Following the completion of the transaction, the chief executive officer now directly owns 769,957 shares in the company, valued at $7,537,879.03. This trade represents a 7.09 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Mark Frichtl acquired 5,045 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average price of $9.78 per share, with a total value of $49,340.10. Following the transaction, the chief technology officer now owns 513,121 shares in the company, 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. Insiders have sold a total of 80,415 shares of company stock valued at $748,620 in the last 90 days. 7.81% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ouster

Several large investors have recently modified their holdings of the business. Barclays PLC lifted its stake in Ouster by 280.6% in the third quarter. Barclays PLC now owns 57,330 shares of the company's stock valued at $361,000 after buying an additional 42,267 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Ouster by 6.8% in the 3rd quarter. Geode Capital Management LLC now owns 975,407 shares of the company's stock valued at $6,146,000 after purchasing an additional 62,202 shares during the period. State Street Corp boosted its position in shares of Ouster by 2.4% during the third quarter. State Street Corp now owns 1,649,540 shares of the company's stock worth $10,392,000 after buying an additional 37,926 shares during the period. Stifel Financial Corp grew its holdings in shares of Ouster by 286.7% during the third quarter. Stifel Financial Corp now owns 59,718 shares of the company's stock worth $376,000 after buying an additional 44,275 shares in the last quarter. Finally, Centiva Capital LP acquired a new stake in Ouster in the 3rd quarter valued at approximately $167,000. 31.45% of the stock is currently owned by institutional investors.

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.