Insider Buying: Ouster, Inc. (NYSE:OUST) CTO Purchases $49,340.10 in Stock

Ouster, Inc. (NYSE:OUST) CTO Mark Frichtl acquired 5,045 shares of the stock in a transaction dated Thursday, December 12th. The stock was bought at an average price of $9.78 per share, with a total value of $49,340.10. Following the purchase, the chief technology officer now directly owns 513,121 shares in the company, valued at $5,018,323.38. This represents a 0.99 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Ouster Stock Performance

OUST traded up $0.29 during midday trading on Monday, reaching $9.37. 1,079,464 shares of the company were exchanged, compared to its average volume of 1,163,512. Ouster, Inc. has a one year low of $4.65 and a one year high of $16.88. The company’s fifty day moving average price is $8.43 and its 200 day moving average price is $9.17. The company has a market cap of $466.35 million, a price-to-earnings ratio of -3.65 and a beta of 2.50.

Institutional Investors Weigh In On Ouster

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC increased its stake in Ouster by 783.0% in the 2nd quarter. SG Americas Securities LLC now owns 99,063 shares of the company’s stock valued at $974,000 after buying an additional 87,844 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Ouster during the second quarter valued at approximately $1,305,000. Van ECK Associates Corp bought a new stake in Ouster during the second quarter worth $56,000. Fairhaven Wealth Management LLC purchased a new position in Ouster in the second quarter worth $131,000. Finally, Rhumbline Advisers bought a new position in Ouster in the 2nd quarter valued at $598,000. 31.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on OUST. Cantor Fitzgerald upgraded shares of Ouster from a “neutral” rating to an “overweight” rating and reduced their price target for the stock from $12.00 to $10.00 in a report on Monday, November 11th. Rosenblatt Securities restated a “buy” rating and issued a $17.00 target price on shares of Ouster in a research note on Friday, November 8th. Northland Securities assumed coverage on Ouster in a research report on Thursday. They issued an “outperform” rating and a $14.00 target price for the company. Finally, Northland Capmk upgraded Ouster to a “strong-buy” rating in a report on Thursday. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Ouster has a consensus rating of “Buy” and a consensus target price of $13.17.

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.