Ouster (NYSE:OUST) Trading 10.2% Higher After Insider Buying Activity

Ouster, Inc. (NYSE:OUST)’s share price traded up 10.2% on Tuesday after an insider bought additional shares in the company. The company traded as high as $23.20 and last traded at $22.6460. 892,864 shares changed hands during trading, a decline of 53% from the average session volume of 1,904,242 shares. The stock had previously closed at $20.55.

Specifically, Director Virginia Boulet purchased 6,500 shares of Ouster stock in a transaction that occurred on Friday, March 6th. The stock was purchased at an average cost of $20.95 per share, with a total value of $136,175.00. Following the completion of the transaction, the director owned 228,342 shares of the company’s stock, valued at approximately $4,783,764.90. This trade represents a 2.93% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on OUST shares. Oppenheimer restated an “outperform” rating and set a $40.00 target price on shares of Ouster in a research note on Tuesday, March 3rd. Rosenblatt Securities reissued a “buy” rating and issued a $40.00 target price on shares of Ouster in a report on Tuesday, March 3rd. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Ouster presently has an average rating of “Moderate Buy” and a consensus price target of $36.17.

Ouster Stock Up 9.2%

The stock has a market cap of $1.35 billion, a price-to-earnings ratio of -8.75 and a beta of 2.91. The stock has a 50 day simple moving average of $22.19 and a 200 day simple moving average of $25.60.

Hedge Funds Weigh In On Ouster

Several large investors have recently added to or reduced their stakes in OUST. NewEdge Advisors LLC raised its position in Ouster by 2,532.6% in the second quarter. NewEdge Advisors LLC now owns 1,132 shares of the company’s stock worth $27,000 after acquiring an additional 1,089 shares during the period. TD Waterhouse Canada Inc. grew its position in shares of Ouster by 8,823.5% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,517 shares of the company’s stock valued at $37,000 after acquiring an additional 1,500 shares during the period. Larson Financial Group LLC raised its holdings in shares of Ouster by 118.8% in the 4th quarter. Larson Financial Group LLC now owns 1,965 shares of the company’s stock worth $43,000 after purchasing an additional 1,067 shares during the period. Gordian Capital Singapore Pte Ltd raised its holdings in shares of Ouster by 38.1% in the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 2,900 shares of the company’s stock worth $78,000 after purchasing an additional 800 shares during the period. Finally, SHP Wealth Management purchased a new position in Ouster in the fourth quarter valued at approximately $96,000. 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.