Ouster (NYSE:OUST) Shares Gap Up – What’s Next?

Ouster, Inc. (NYSE:OUST)’s share price gapped up before the market opened 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.

Analyst Ratings Changes

Several brokerages have weighed in on OUST. Northland Securities started coverage on Ouster in a research note on Thursday, December 12th. They set an “outperform” rating and a $14.00 target price on the stock. Cantor Fitzgerald raised shares of Ouster from a “neutral” rating to an “overweight” rating and reduced their price target for the stock from $12.00 to $10.00 in a research note on Monday, November 11th. Rosenblatt Securities reissued a “buy” rating and set a $17.00 target price on shares of Ouster in a report on Friday, November 8th. Finally, Northland Capmk upgraded shares of Ouster to a “strong-buy” rating in a research report on Thursday, December 12th. 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $13.17.

Ouster Price Performance

The stock’s 50 day moving average price is $8.77 and its two-hundred day moving average price is $9.15. The firm has a market capitalization of $577.84 million, a price-to-earnings ratio of -4.52 and a beta of 2.50.

Insider Activity

In related news, COO Darien Spencer sold 14,869 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $9.69, for a total value of $144,080.61. Following the completion of the sale, the chief operating officer now owns 291,718 shares in the company, valued at approximately $2,826,747.42. This trade represents a 4.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Charles Angus Pacala purchased 50,954 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were purchased at an average price of $9.79 per share, for a total transaction of $498,839.66. Following the completion of the purchase, the chief executive officer now directly owns 769,957 shares of the company’s stock, valued at approximately $7,537,879.03. This trade represents a 7.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 80,415 shares of company stock valued at $748,620. 7.81% of the stock is owned by insiders.

Institutional Investors Weigh In On Ouster

A number of institutional investors have recently bought and sold shares of OUST. State Street Corp grew its holdings in shares of Ouster by 2.4% in the 3rd quarter. State Street Corp now owns 1,649,540 shares of the company’s stock worth $10,392,000 after purchasing an additional 37,926 shares during the last quarter. Geode Capital Management LLC grew its stake in Ouster by 6.8% during the third quarter. Geode Capital Management LLC now owns 975,407 shares of the company’s stock worth $6,146,000 after buying an additional 62,202 shares during the last quarter. Marshall Wace LLP raised its stake in shares of Ouster by 184.9% in the second quarter. Marshall Wace LLP now owns 653,530 shares of the company’s stock valued at $6,424,000 after acquiring an additional 424,178 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Ouster by 10.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 356,407 shares of the company’s stock worth $2,245,000 after acquiring an additional 34,743 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Ouster during the 2nd quarter worth approximately $1,305,000. 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.