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

Key Points

• Price action: Ouster shares gapped up premarket (prior close $26.45, opened $29.92) and were last quoted at $27.65, roughly a 7.5% intraday gain on about 1.54 million shares traded.
• Analyst outlook: Four analysts rate the stock a Buy and one a Hold, giving an average rating of "Moderate Buy" with an average target of about $40.20 (Oppenheimer and Rosenblatt each set $40 targets).
• Insider and institutional activity: Insider transactions are mixed — Director Virginia Boulet bought 6,500 shares at $20.95 while CTO Mark Frichtl sold 60,000 shares at $26.58; insiders own 6.63% of the stock and institutions own ~31.45%.

Ouster, Inc. (NYSE:OUST - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $26.45, but opened at $29.92. Ouster shares last traded at $27.65, with a volume of 1,536,808 shares changing hands.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Oppenheimer reiterated an "outperform" rating and issued a $40.00 target price on shares of Ouster in a research note on Tuesday, March 3rd. Rosenblatt Securities restated a "buy" rating and set a $40.00 price target on shares of Ouster in a research note on Tuesday, March 3rd. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $40.20.

Ouster Trading Up 7.5%

The stock has a fifty day moving average price of $21.76 and a 200 day moving average price of $23.54. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of -10.97 and a beta of 3.06.

Insider Activity at Ouster

In other news, Director Virginia Boulet acquired 6,500 shares of Ouster stock in a transaction dated Friday, March 6th. The stock was acquired at an average cost of $20.95 per share, for a total transaction of $136,175.00. Following the completion of the purchase, the director owned 228,342 shares of the company's stock, valued at $4,783,764.90. This represents a 2.93% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Mark Frichtl sold 60,000 shares of the firm's stock in a transaction on Monday, April 20th. The shares were sold at an average price of $26.58, for a total transaction of $1,594,800.00. Following the completion of the transaction, the chief technology officer owned 712,297 shares in the company, valued at $18,932,854.26. The trade was a 7.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 263,809 shares of company stock valued at $6,333,722. 6.63% of the stock is owned by company insiders.

Institutional Trading of Ouster

Several hedge funds have recently added to or reduced their stakes in the business. Van ECK Associates Corp boosted its position in shares of Ouster by 17.1% in the third quarter. Van ECK Associates Corp now owns 3,590 shares of the company's stock valued at $97,000 after acquiring an additional 525 shares during the period. Main Management ETF Advisors LLC grew its stake in shares of Ouster by 1.0% in the fourth quarter. Main Management ETF Advisors LLC now owns 54,810 shares of the company's stock worth $1,186,000 after acquiring an additional 560 shares during the last quarter. Corient Private Wealth LLC increased its position in Ouster by 5.5% during the second quarter. Corient Private Wealth LLC now owns 11,554 shares of the company's stock worth $280,000 after acquiring an additional 599 shares during the period. Prosperity Wealth Management Inc. raised its stake in Ouster by 5.5% during the 3rd quarter. Prosperity Wealth Management Inc. now owns 13,000 shares of the company's stock valued at $352,000 after purchasing an additional 675 shares during the last quarter. Finally, Creative Planning raised its stake in Ouster by 1.6% during the 3rd quarter. Creative Planning now owns 43,681 shares of the company's stock valued at $1,182,000 after purchasing an additional 677 shares during the last quarter. Institutional investors own 31.45% of the company's stock.

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.

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