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

Ouster, Inc. (NYSE:OUST) shares gapped up prior to trading on Wednesday . The stock had previously closed at $19.33, but opened at $21.55. Ouster shares last traded at $20.4190, with a volume of 457,953 shares trading hands.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Ouster in a research report on Tuesday, March 3rd. Oppenheimer reiterated an “outperform” rating and set a $40.00 target price on shares of Ouster in a research note on Tuesday, March 3rd. Four investment 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, Ouster currently has a consensus rating of “Moderate Buy” and an average target price of $40.20.

Ouster Stock Up 5.8%

The company has a market cap of $1.28 billion, a P/E ratio of -7.95 and a beta of 2.98. The stock has a 50 day moving average price of $20.05 and a two-hundred day moving average price of $24.20.

Insider Activity

In other Ouster news, COO Darien Spencer sold 10,938 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $23.43, for a total transaction of $256,277.34. Following the transaction, the chief operating officer owned 325,250 shares in the company, valued at $7,620,607.50. This trade represents a 3.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Megan Chung sold 9,593 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $23.43, for a total value of $224,763.99. Following the transaction, the general counsel owned 173,548 shares in the company, valued at approximately $4,066,229.64. This trade represents a 5.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 108,409 shares of company stock worth $2,456,848. 6.63% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ouster

Hedge funds have recently added to or reduced their stakes in the stock. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Ouster in the 3rd quarter valued at $1,677,000. Osaic Holdings Inc. boosted its holdings in shares of Ouster by 3,452.7% in the 2nd quarter. Osaic Holdings Inc. now owns 121,893 shares of the company’s stock valued at $2,956,000 after purchasing an additional 118,462 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Ouster in the 3rd quarter valued at $5,224,000. Hillsdale Investment Management Inc. acquired a new stake in shares of Ouster in the 3rd quarter valued at $3,038,000. Finally, Handelsbanken Fonder AB boosted its holdings in shares of Ouster by 1,419.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 310,205 shares of the company’s stock valued at $8,385,000 after purchasing an additional 289,790 shares in the last quarter. Institutional investors own 31.45% of the company’s stock.

Ouster Company Profile

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.