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

Ouster, Inc. (NYSE:OUST)’s share price gapped up prior to trading 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 traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. 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 for the company. Cantor Fitzgerald raised Ouster from a “neutral” rating to an “overweight” rating and lowered their price objective for the stock from $12.00 to $10.00 in a research report on Monday, November 11th. Rosenblatt Securities reaffirmed a “buy” rating and set a $17.00 target price on shares of Ouster in a research report on Friday, November 8th. Finally, Northland Capmk raised Ouster to a “strong-buy” rating in a report on Thursday, December 12th. One 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $13.17.

Ouster Stock Performance

The firm has a market cap of $575.94 million, a PE ratio of -4.50 and a beta of 2.39. The company has a 50 day simple moving average of $10.83 and a two-hundred day simple moving average of $9.48.

Ouster (NYSE:OUST) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.54) earnings per share 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 in the previous year, the business posted ($0.89) EPS. As a group, research analysts predict that Ouster, Inc. will post -2.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Charles Angus Pacala acquired 50,954 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were acquired at an average price of $9.79 per share, with a total value of $498,839.66. Following the purchase, the chief executive officer now directly owns 769,957 shares of the company’s stock, valued at $7,537,879.03. This trade represents a 7.09 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Mark Weinswig sold 31,397 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $8.72, for a total transaction of $273,781.84. Following the completion of the transaction, the chief financial officer now owns 198,650 shares of the company’s stock, valued at approximately $1,732,228. This represents a 13.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 80,415 shares of company stock valued at $748,620 over the last 90 days. Insiders own 7.81% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Ouster during the 2nd quarter valued at about $27,000. Van ECK Associates Corp lifted its position 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 valued at $46,000 after buying an additional 1,608 shares in the last quarter. Stoneridge Investment Partners LLC purchased a new position in shares of Ouster during the 3rd quarter valued at approximately $67,000. True North Advisors LLC acquired a new stake in Ouster in the 3rd quarter valued at $78,000. Finally, Intech Investment Management LLC acquired a new position in Ouster during the third quarter worth $81,000. 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.