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

Shares of Ouster, Inc. (NYSE:OUST - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $10.42, but opened at $12.11. Ouster shares last traded at $11.66, with a volume of 494,053 shares traded.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Northland Securities started 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. Northland Capmk raised Ouster to a "strong-buy" rating in a research note on Thursday, December 12th. Cantor Fitzgerald raised 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 research note on Monday, November 11th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $17.00 target price on shares of Ouster in a research note on Friday, November 8th. 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 company's stock. According to MarketBeat.com, Ouster currently has an average rating of "Buy" and an average target price of $13.17.

Ouster Trading Up 1.9 %

The company has a fifty day moving average price of $8.77 and a two-hundred day moving average price of $9.15. The firm has a market cap of $607.70 million, a P/E ratio of -4.75 and a beta of 2.50.

Insider Buying and Selling

In other Ouster news, CTO Mark Frichtl bought 5,045 shares of the firm's stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average price of $9.78 per share, with a total value of $49,340.10. Following the completion of the transaction, the chief technology officer now owns 513,121 shares in the company, valued at approximately $5,018,323.38. This trade represents a 0.99 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Darien Spencer sold 14,869 shares of Ouster stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $9.69, for a total transaction of $144,080.61. Following the completion of the sale, the chief operating officer now owns 291,718 shares in the company, valued at $2,826,747.42. The trade was a 4.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 80,415 shares of company stock worth $748,620 over the last ninety days. Company insiders own 7.81% of the company's stock.

Institutional Trading of Ouster

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Ouster during the second quarter worth about $27,000. Van ECK Associates Corp boosted its stake in shares of Ouster by 28.4% during the 3rd quarter. Van ECK Associates Corp now owns 7,264 shares of the company's stock worth $46,000 after acquiring an additional 1,608 shares during the period. Stoneridge Investment Partners LLC bought a new position in shares of Ouster during the 3rd quarter worth approximately $67,000. True North Advisors LLC bought a new stake in Ouster in the 3rd quarter valued at $78,000. Finally, Intech Investment Management LLC bought a new stake in Ouster in the 3rd quarter valued at $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.