Ouster jumps after co's lidar gets Department of Defense approval

Shares of lidar sensor maker Ouster OUST.O jump 16.3% to $18.6 premarket, set to extend gains to a fourth straight session, if gains hold

OUST says its OS1 digital lidar has been vetted and approved by the Department of Defense (DoD) for use in unmanned aerial systems

Co says OS1 added to the Blue UAS Framework - a program that scales commercial unmanned aerial system technology for the DoD

Shares have fallen more than 90% from its 2020 highs when the company had gone public through a merger with a blank-check acquisition firm

As of Tuesday's close, OUST up more than 31% YTD