Ouster (NYSE:OUST) Shares Gap Up Following Insider Buying Activity

Ouster, Inc. (NYSE:OUST - Get Free Report)'s stock price gapped up before the market opened on Friday after an insider bought additional shares in the company. The stock had previously closed at $11.66, but opened at $12.96. Ouster shares last traded at $13.56, with a volume of 1,169,360 shares trading hands.

Specifically, Director Virginia Boulet purchased 10,000 shares of the stock in a transaction dated Wednesday, May 15th. The shares were acquired at an average price of $12.20 per share, for a total transaction of $122,000.00. Following the completion of the acquisition, the director now owns 173,089 shares of the company's stock, valued at approximately $2,111,685.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, General Counsel Megan Chung sold 5,776 shares of Ouster stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $7.96, for a total transaction of $45,976.96. Following the completion of the sale, the general counsel now directly owns 163,966 shares in the company, valued at approximately $1,305,169.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Virginia Boulet acquired 10,000 shares of the company's stock in a transaction that occurred on Wednesday, May 15th. The stock was purchased at an average price of $12.20 per share, for a total transaction of $122,000.00. Following the acquisition, the director now directly owns 173,089 shares of the company's stock, valued at approximately $2,111,685.80. The disclosure for this purchase can be found here. Insiders have sold 36,986 shares of company stock worth $290,359 over the last 90 days. 6.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Cantor Fitzgerald restated an "overweight" rating and set a $8.00 price target on shares of Ouster in a report on Thursday, March 28th. Rosenblatt Securities boosted their price target on Ouster from $12.00 to $17.00 and gave the stock a "buy" rating in a research report on Friday, May 10th. Craig Hallum increased their price objective on Ouster from $10.00 to $13.00 and gave the company a "buy" rating in a report on Friday, May 10th. Finally, Chardan Capital reissued a "neutral" rating and issued a $10.00 price objective on shares of Ouster in a research note on Wednesday, April 3rd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $11.10.

Ouster Stock Up 11.0 %

The firm has a 50-day moving average price of $8.03 and a two-hundred day moving average price of $6.56. The company has a market capitalization of $526.27 million, a P/E ratio of -2.42 and a beta of 2.40. The company has a quick ratio of 2.94, a current ratio of 3.09 and a debt-to-equity ratio of 0.26.

Ouster (NYSE:OUST - Get Free Report) last released its earnings results on Tuesday, March 26th. The company reported ($0.95) EPS for the quarter. The company had revenue of $24.44 million for the quarter. Ouster had a negative net margin of 239.89% and a negative return on equity of 88.42%. Equities research analysts anticipate that Ouster, Inc. will post -3.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Ouster

Institutional investors have recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. bought a new stake in shares of Ouster in the 4th quarter worth approximately $70,000. International Assets Investment Management LLC lifted its position in Ouster by 667.0% in the fourth quarter. International Assets Investment Management LLC now owns 9,894 shares of the company's stock worth $76,000 after purchasing an additional 8,604 shares during the period. Psagot Value Holdings Ltd. Israel acquired a new stake in Ouster during the fourth quarter worth $76,000. Bison Wealth LLC bought a new stake in Ouster in the 4th quarter valued at $79,000. Finally, Lake Street Advisors Group LLC acquired a new position in shares of Ouster in the 1st quarter valued at $79,000. 31.45% of the stock is owned by institutional investors and hedge funds.

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.