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

Shares of Ouster, Inc. (NYSE:OUST) gapped up prior to trading on Tuesday after an insider bought additional shares in the company. 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 purchased 50,954 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average cost of $9.79 per share, with a total value of $498,839.66. Following the acquisition, the chief executive officer now owns 769,957 shares in the company, valued at approximately $7,537,879.03. This trade represents a 7.09 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Mark Frichtl acquired 5,045 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was purchased at an average cost of $9.78 per share, for a total transaction of $49,340.10. Following the completion of the acquisition, the chief technology officer now owns 513,121 shares in the company, 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 recently issued reports on OUST. Rosenblatt Securities reissued a “buy” rating and issued a $17.00 target price on shares of Ouster in a research report on Friday, November 8th. Northland Securities began coverage on Ouster in a research report on Thursday, December 12th. They set an “outperform” rating and a $14.00 price target on the stock. Northland Capmk raised shares of Ouster to a “strong-buy” rating in a report on Thursday, December 12th. Finally, Cantor Fitzgerald raised Ouster from a “neutral” rating to an “overweight” rating and reduced their target price for the company from $12.00 to $10.00 in a report on Monday, November 11th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Ouster currently has an average rating of “Buy” and an average price target of $13.17.

Ouster Price Performance

The company has a market capitalization of $516.62 million, a price-to-earnings ratio of -4.04 and a beta of 2.50. The firm’s fifty day moving average price is $8.60 and its 200-day moving average price is $9.18.

Hedge Funds Weigh In On Ouster

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