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

Ouster, Inc. (NYSE:OUST) gapped up prior to trading on Tuesday . The stock had previously closed at $21.76, but opened at $22.90. Ouster shares last traded at $22.8790, with a volume of 320,049 shares.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Westpark Capital restated a “buy” rating and set a $50.00 price objective on shares of Ouster in a report on Wednesday, November 5th. Zacks Research cut Ouster from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. Cantor Fitzgerald set a $33.00 target price on Ouster in a research report on Thursday, November 6th. Northland Securities set a $38.00 price objective on shares of Ouster in a report on Wednesday, November 5th. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of Ouster in a report on Thursday. One investment 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 stock. According to MarketBeat.com, Ouster presently has an average rating of “Buy” and an average price target of $32.17.

Ouster Stock Performance

The firm’s 50 day moving average price is $27.66 and its 200-day moving average price is $25.32. The firm has a market capitalization of $1.56 billion, a PE ratio of -10.11 and a beta of 2.99.

Insider Activity

In related news, CEO Charles Angus Pacala sold 37,992 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 $1,081,252.32. Following the completion of the transaction, the chief executive officer owned 1,009,927 shares in the company, valued at $28,742,522.42. This represents a 3.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ted L. Tewksbury III sold 1,695 shares of Ouster stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $25.38, for a total value of $43,019.10. Following the completion of the sale, the director owned 125,359 shares in the company, valued at approximately $3,181,611.42. The trade was a 1.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 106,310 shares of company stock worth $3,035,305. Insiders own 6.63% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in OUST. NewEdge Advisors LLC increased its holdings in shares of Ouster by 714.7% in the third quarter. NewEdge Advisors LLC now owns 9,222 shares of the company’s stock valued at $249,000 after purchasing an additional 8,090 shares during the last quarter. Sender Co & Partners Inc. purchased a new stake in Ouster in the 3rd quarter valued at $490,000. Dark Forest Capital Management LP increased its stake in shares of Ouster by 26.0% in the 3rd quarter. Dark Forest Capital Management LP now owns 22,859 shares of the company’s stock worth $618,000 after acquiring an additional 4,710 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Ouster during the 3rd quarter valued at about $1,079,000. Finally, Voleon Capital Management LP purchased a new stake in shares of Ouster in the third quarter valued at about $235,000. 31.45% of the stock is currently 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.