Ouster (NYSE:OUST) Shares Gap Up – Should You Buy?

Ouster, Inc. (NYSE:OUST) gapped up prior to trading 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 changing hands.

Wall Street Analysts Forecast Growth

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

Ouster Trading Down 0.3%

The company has a market cap of $1.25 billion, a P/E ratio of -8.11 and a beta of 2.73. The firm has a 50-day moving average of $29.61 and a 200 day moving average of $24.49.

Insider Buying and Selling at Ouster

In other news, COO Darien Spencer sold 18,274 shares of the company’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $28.46, for a total transaction of $520,078.04. Following the transaction, the chief operating officer owned 346,132 shares in the company, valued at approximately $9,850,916.72. This represents a 5.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Charles Angus Pacala sold 37,992 shares of the stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $28.46, for a total transaction of $1,081,252.32. Following the transaction, the chief executive officer directly owned 1,009,927 shares in the company, valued at $28,742,522.42. This trade represents a 3.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 106,310 shares of company stock valued at $3,035,305 over the last 90 days. Insiders own 6.63% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. grew its position in Ouster by 1,521.8% in the 2nd quarter. Invesco Ltd. now owns 571,662 shares of the company’s stock valued at $13,863,000 after purchasing an additional 536,413 shares during the period. Vanguard Group Inc. lifted its stake in shares of Ouster by 11.3% in the third quarter. Vanguard Group Inc. now owns 4,720,264 shares of the company’s stock valued at $127,683,000 after buying an additional 478,372 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Ouster during the third quarter valued at about $9,193,000. Algert Global LLC increased its position in shares of Ouster by 192.6% during the third quarter. Algert Global LLC now owns 500,902 shares of the company’s stock worth $13,549,000 after acquiring an additional 329,735 shares in the last quarter. Finally, Handelsbanken Fonder AB raised 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 worth $8,385,000 after acquiring an additional 289,790 shares during the last quarter. 31.45% of the stock is owned by institutional investors and hedge funds.

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.