Aurora Innovation (NASDAQ:AUR) Stock Moved Up to Hold by Zacks Research

Key Points

• Zacks Research upgraded Aurora Innovation from “strong sell” to “hold.” Across analysts, the stock has a “Moderate Buy” consensus rating and an average price target of $12.56.
• Aurora reported quarterly earnings per share of -$0.12, matching estimates, and revenue of $3.00 million, slightly above forecasts and up 200% year over year.
• AUR opened at $4.60, below its 50-day and 200-day moving averages of $5.47 and $5.60, respectively; its 52-week range is $3.60 to $8.56.

Aurora Innovation (NASDAQ:AUR - Get Free Report) was upgraded by analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a note issued to investors on Tuesday, Zacks reports.

AUR has been the topic of a number of other reports. Cantor Fitzgerald dropped their price objective on shares of Aurora Innovation from $12.00 to $11.00 and set an "overweight" rating on the stock in a report on Thursday, October 29th. Oppenheimer upped their target price on shares of Aurora Innovation from $15.00 to $16.00 and gave the stock an "outperform" rating in a research note on Thursday, October 8th. Canaccord Genuity Group increased their target price on Aurora Innovation from $15.00 to $17.00 and gave the stock a "buy" rating in a report on Thursday, September 24th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Aurora Innovation in a report on Thursday, October 15th. Finally, Northland Securities set a $10.00 price target on Aurora Innovation in a research note on Thursday, October 29th. Eight investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Aurora Innovation has an average rating of "Moderate Buy" and an average target price of $12.56.

Aurora Innovation Stock Performance

Shares of AUR stock opened at $4.60 on Tuesday. The company's 50 day moving average price is $5.47 and its two-hundred day moving average price is $5.60. Aurora Innovation has a 52 week low of $3.60 and a 52 week high of $8.56.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last announced its quarterly earnings results on Wednesday, October 28th. The company reported ($0.12) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.12). The firm had revenue of $3.00 million for the quarter, compared to analyst estimates of $2.99 million. Aurora Innovation had a negative net margin of 13,328.57% and a negative return on equity of 48.39%. The company's revenue was up 200.0% on a year-over-year basis. On average, analysts predict that Aurora Innovation will post -0.48 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Michelangelo Volpi sold 2,842,682 shares of the firm's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $7.00, for a total transaction of $19,898,774.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 8.52% of the stock is currently owned by company insiders.

Institutional Trading of Aurora Innovation

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Next Level Wealth Planning LLC bought a new stake in shares of Aurora Innovation in the third quarter worth $39,000. Manchester Capital Management LLC bought a new position in Aurora Innovation in the third quarter valued at $42,000. Versant Capital Management Inc grew its position in Aurora Innovation by 964.9% in the second quarter. Versant Capital Management Inc now owns 8,019 shares of the company's stock valued at $55,000 after purchasing an additional 7,266 shares in the last quarter. GAMMA Investing LLC grew its position in Aurora Innovation by 79.7% in the second quarter. GAMMA Investing LLC now owns 8,501 shares of the company's stock valued at $58,000 after purchasing an additional 3,770 shares in the last quarter. Finally, Composition Wealth LLC acquired a new stake in Aurora Innovation in the 3rd quarter valued at $56,000. 44.71% of the stock is currently owned by institutional investors and hedge funds.

About Aurora Innovation

Aurora Innovation, Inc. develops autonomous vehicle technology through its Aurora Driver platform, which combines self-driving software, sensors and computing hardware. The system is designed for use in commercial trucking and passenger mobility applications. Founded in 2017 by Chris Urmson, Sterling Anderson and Drew Bagnell, the company is headquartered in Pittsburgh, Pennsylvania. Aurora has focused on autonomous freight transportation in the United States, including development and testing of self-driving truck operations.

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