Ouster Inc (NYSE: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.

Image: Courtesy of Ouster Inc.