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

Shares of Ouster, Inc. (NYSE:OUST) 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 changing hands.

Analysts Set New Price Targets

A number of brokerages have weighed in on OUST. Rosenblatt Securities reaffirmed a “buy” rating and issued a $40.00 target price on shares of Ouster in a report on Tuesday, March 3rd. Oppenheimer reaffirmed an “outperform” rating and issued a $40.00 target price on shares of Ouster in a report on Tuesday, March 3rd. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $40.20.

Ouster Stock Performance

The company has a market cap of $1.28 billion, a price-to-earnings ratio of -7.95 and a beta of 2.98. The company has a fifty day moving average of $20.05 and a two-hundred day moving average of $24.20.

Insider Activity at Ouster

In related news, 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 transaction of $224,763.99. Following the sale, the general counsel owned 173,548 shares of the company’s stock, valued at $4,066,229.64. This trade represents a 5.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ted L. Tewksbury III sold 1,695 shares of the firm’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $20.00, for a total value of $33,900.00. Following the sale, the director directly owned 121,969 shares in the company, valued at approximately $2,439,380. This trade represents a 1.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 108,409 shares of company stock worth $2,456,848 over the last 90 days. 6.63% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of OUST. NewEdge Advisors LLC lifted its holdings in Ouster by 2,532.6% during the 2nd quarter. NewEdge Advisors LLC now owns 1,132 shares of the company’s stock worth $27,000 after buying an additional 1,089 shares during the period. Larson Financial Group LLC lifted its holdings in Ouster by 118.8% during the 4th quarter. Larson Financial Group LLC now owns 1,965 shares of the company’s stock worth $43,000 after buying an additional 1,067 shares during the period. Gordian Capital Singapore Pte Ltd lifted its holdings in Ouster by 38.1% during the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 2,900 shares of the company’s stock worth $78,000 after buying an additional 800 shares during the period. SHP Wealth Management acquired a new position in Ouster during the 4th quarter worth about $96,000. Finally, Van ECK Associates Corp lifted its holdings in 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 buying an additional 525 shares during the period. 31.45% of the stock is owned by institutional investors and hedge funds.

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.