Aurora Innovation, Inc. (NASDAQ:AUR) Receives Consensus Recommendation of "Hold" from Brokerages

Key Points

• Aurora Innovation has a consensus analyst rating of “Hold” from 11 brokerages, with seven buy ratings, two holds, and two sells. The average 12-month price target is $12.25.
• The company recently reported a quarterly loss of $0.11 per share, beating estimates by $0.01, while revenue came in at $1.0 million and fell 66.7% year over year.
• Insider activity has been mixed: director Reid Hoffman sold 5.5 million shares, while director David M. Wehner bought 82,500 shares. Institutional investors continue to hold a meaningful stake, owning 44.71% of the company.

Shares of Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report) have been given an average recommendation of "Hold" by the eleven ratings firms that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $12.25.

AUR has been the subject of several recent analyst reports. Wall Street Zen downgraded Aurora Innovation from a "hold" rating to a "sell" rating in a report on Sunday, April 26th. Northland Securities started coverage on Aurora Innovation in a report on Friday, May 29th. They issued an "outperform" rating and a $11.00 price objective for the company. The Goldman Sachs Group upped their target price on shares of Aurora Innovation from $4.00 to $5.00 and gave the company a "neutral" rating in a research note on Friday, April 17th. TD Cowen raised their price target on shares of Aurora Innovation from $4.70 to $7.00 and gave the company a "hold" rating in a report on Thursday, May 7th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Aurora Innovation in a report on Monday, April 20th.

Aurora Innovation Stock Performance

Shares of NASDAQ AUR opened at $6.31 on Wednesday. The firm's 50 day moving average price is $6.69 and its 200-day moving average price is $5.22. The company has a market cap of $12.38 billion, a PE ratio of -14.34 and a beta of 2.63. 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 data on Wednesday, May 6th. The company reported ($0.11) earnings per share for the quarter, topping analysts' consensus estimates of ($0.12) by $0.01. Aurora Innovation had a negative net margin of 20,775.00% and a negative return on equity of 40.45%. The company had revenue of $1.00 million during the quarter, compared to analyst estimates of $0.97 million. Aurora Innovation's revenue was down 66.7% on a year-over-year basis. On average, analysts forecast that Aurora Innovation will post -0.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Reid Hoffman sold 5,498,487 shares of the firm's stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $7.81, for a total value of $42,943,183.47. Following the sale, the director owned 77,500 shares in the company, valued at approximately $605,275. This trade represents a 98.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David M. Wehner bought 82,500 shares of the business's stock in a transaction on Thursday, June 11th. The stock was bought at an average cost of $6.04 per share, with a total value of $498,300.00. Following the transaction, the director owned 246,519 shares in the company, valued at $1,488,974.76. This trade represents a 50.30% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have sold 7,048,487 shares of company stock worth $54,295,119. 8.52% of the stock is owned by insiders.

Institutional Trading of Aurora Innovation

A number of hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings 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 acquiring an additional 3,770 shares during the period. Versant Capital Management Inc increased its position in shares of Aurora Innovation by 964.9% during the 2nd 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 during the last quarter. CX Institutional increased its position in shares of Aurora Innovation by 4,070.6% during the 2nd quarter. CX Institutional now owns 17,850 shares of the company's stock valued at $122,000 after purchasing an additional 17,422 shares during the last quarter. Western Wealth Management LLC lifted its stake in shares of Aurora Innovation by 24.2% in the 1st quarter. Western Wealth Management LLC now owns 60,579 shares of the company's stock worth $250,000 after purchasing an additional 11,822 shares during the period. Finally, NewEdge Advisors LLC lifted its stake in shares of Aurora Innovation by 8.6% in the 1st quarter. NewEdge Advisors LLC now owns 76,832 shares of the company's stock worth $317,000 after purchasing an additional 6,067 shares during the period. Hedge funds and other institutional investors own 44.71% of the company's stock.

About Aurora Innovation

Aurora Innovation, Inc is a technology company specializing in the development of self-driving vehicle systems for both passenger and commercial applications. Headquartered in Mountain View, California, Aurora has built an end-to-end platform—known as the Aurora Driver—that integrates proprietary software, machine learning algorithms and a suite of sensors (LiDAR, radar and cameras) to enable vehicles to operate safely and efficiently in diverse driving environments.

The company's core business revolves around designing, testing and deploying its autonomy stack on vehicles from established automotive and transportation partners.

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