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

Shares of Ouster, Inc. (NYSE:OUST) gapped up before the market opened on Thursday . The stock had previously closed at $20.95, but opened at $22.38. Ouster shares last traded at $21.5890, with a volume of 769,019 shares.

Wall Street Analyst Weigh In

A number of research analysts recently commented on OUST shares. Northland Securities set a $38.00 price target on shares of Ouster in a research note on Wednesday, November 5th. Cantor Fitzgerald set a $33.00 target price on Ouster in a research note on Thursday, November 6th. Westpark Capital reissued a “buy” rating and set a $50.00 price target on shares of Ouster in a report on Wednesday, November 5th. Zacks Research lowered Ouster from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. Finally, Oppenheimer reissued an “outperform” rating and set a $39.00 target price on shares of Ouster in a report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $32.17.

Ouster Trading Down 0.3%

The stock has a market capitalization of $1.25 billion, a P/E ratio of -8.11 and a beta of 2.73. The business has a 50-day moving average price of $29.61 and a two-hundred day moving average price of $24.49.

Insider Transactions at Ouster

In other news, CTO Mark Frichtl sold 25,329 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $28.46, for a total value of $720,863.34. Following the completion of the transaction, the chief technology officer directly owned 665,403 shares in the company, valued at approximately $18,937,369.38. The trade was a 3.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ted L. Tewksbury III sold 1,695 shares of the stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $25.38, for a total transaction of $43,019.10. Following the sale, the director owned 125,359 shares in the company, valued at $3,181,611.42. This represents a 1.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 106,310 shares of company stock worth $3,035,305. Corporate insiders own 6.63% of the company’s stock.

Hedge Funds Weigh In On Ouster

Institutional investors have recently modified their holdings of the business. NewEdge Advisors LLC boosted its stake in Ouster by 2,532.6% in the second quarter. NewEdge Advisors LLC now owns 1,132 shares of the company’s stock valued at $27,000 after buying an additional 1,089 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Ouster by 153.3% in the second quarter. Nisa Investment Advisors LLC now owns 1,211 shares of the company’s stock worth $29,000 after acquiring an additional 733 shares during the last quarter. TD Waterhouse Canada Inc. boosted its stake in shares of Ouster by 8,823.5% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,517 shares of the company’s stock valued at $37,000 after purchasing an additional 1,500 shares in the last quarter. Gordian Capital Singapore Pte Ltd grew its holdings in shares of Ouster by 38.1% during the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 2,900 shares of the company’s stock valued at $78,000 after purchasing an additional 800 shares during the last quarter. Finally, Game Plan Financial Advisors LLC increased its position in Ouster by 400.0% during the 2nd quarter. Game Plan Financial Advisors LLC now owns 3,000 shares of the company’s stock worth $73,000 after purchasing an additional 2,400 shares in the last quarter. 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.