Ouster (NYSE:OUST) Shares Gap Up – Here’s What Happened

Ouster, Inc. (NYSE:OUST)’s share price gapped up prior to trading on Monday . The stock had previously closed at $26.45, but opened at $29.92. Ouster shares last traded at $27.65, with a volume of 1,536,808 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have weighed in on OUST shares. Rosenblatt Securities reissued a “buy” rating and set a $40.00 target price on shares of Ouster in a research report on Tuesday, March 3rd. Oppenheimer reiterated an “outperform” rating and set a $40.00 price objective on shares of Ouster in a research note on Tuesday, March 3rd. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $40.20.

Ouster Price Performance

The stock has a fifty day moving average of $21.95 and a 200 day moving average of $23.48. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of -11.13 and a beta of 3.06.

Insider Buying and Selling at Ouster

In related news, Director Stephen A. Skaggs sold 5,000 shares of the business’s stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $28.00, for a total transaction of $140,000.00. Following the completion of the transaction, the director directly owned 66,690 shares in the company, valued at $1,867,320. The trade was a 6.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Mark Frichtl sold 60,000 shares of the company’s stock in a transaction on Monday, April 20th. The shares were sold at an average price of $26.58, for a total transaction of $1,594,800.00. Following the completion of the sale, the chief technology officer directly owned 712,297 shares in the company, valued at approximately $18,932,854.26. The trade was a 7.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 263,809 shares of company stock worth $6,333,722. Corporate insiders own 6.63% of the company’s stock.

Hedge Funds Weigh In On Ouster

Institutional investors and hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC grew its holdings in Ouster by 2,532.6% during the second quarter. NewEdge Advisors LLC now owns 1,132 shares of the company’s stock worth $27,000 after acquiring an additional 1,089 shares during the period. Larson Financial Group LLC lifted its holdings in Ouster by 118.8% in the fourth quarter. Larson Financial Group LLC now owns 1,965 shares of the company’s stock valued at $43,000 after acquiring an additional 1,067 shares during the period. Gordian Capital Singapore Pte Ltd boosted its position in Ouster by 38.1% in the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 2,900 shares of the company’s stock worth $78,000 after purchasing an additional 800 shares in the last quarter. SHP Wealth Management acquired a new stake in shares of Ouster during the 4th quarter worth approximately $96,000. Finally, Van ECK Associates Corp grew its stake in shares of Ouster by 17.1% during the 3rd quarter. Van ECK Associates Corp now owns 3,590 shares of the company’s stock worth $97,000 after purchasing an additional 525 shares during the period. Institutional investors and hedge funds own 31.45% of the company’s stock.

About Ouster

Ouster, Inc is a leading provider of high-resolution digital lidar sensors, software and services designed to enable advanced perception capabilities across a range of industries. Headquartered in San Francisco, California, the company develops modular lidar solutions that capture precise three-dimensional data in real time, supporting applications from autonomous vehicles and robotics to mapping, smart infrastructure and industrial automation.

The company’s core product lineup features multi-beam digital lidar units available in various form factors, including compact models for robotics and drones and larger units for automotive and mapping systems.