Ouster Inc (NYSE: OUST) Shares Surge as Executives Disclose Stock Purchases

May 17, 2024 3:35 PM | 1 min read |
Zinger Key Points
  • Ouster Inc (NYSE: OUST) is witnessing increased trading activity fueled by news of insider buying.
  • Despite recent insider selling trends, the significant purchases by Pacala and Frichtl signal a bullish sentiment towards Ouster's growth.

Ouster Inc OUST experienced a surge in volume Friday afternoon after the company disclosed insider stock purchases.

What To Know: President and CEO Angus Charles Pacala, along with Chief Technology Officer Mark Frichtl, have made notable purchases of company shares, which could potentially drive optimism among investors.

According to a recent Form4 filing, Charles Pacala acquired 16,000 shares at an average price of $12.33 per share, while Mark Frichtl purchased 8,000 shares at an average price of $12.34 per share on May 15, 2024. This could be a possible sign of confidence from the company’s leadership in its future prospects.

What Else: Ouster provides LiDAR sensors for applications in the automotive, industrial, robotics and smart infrastructure sectors. The company saw revenue growth of 102.98% over the past year.

OUST Price Action: Ouster Inc shares are trading higher by 11.5 % at $ 13.00 according to benzinga Pro.

See Also: Decoding The FFIE Surge: Inside Faraday Future’s Nasdaq Rally

Image: Courtesy of Ouster Inc.

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