Aurora Innovation (NASDAQ:AUR) Shares Down 1.1% - Here's Why

Key Points

• Aurora Innovation shares fell by 1.1%, trading at $5.91, with a significant decrease in trading volume at approximately 2.5 million shares, down 87% compared to average daily volume.
• Analysts have given the company varied ratings, with Canaccord Genuity increasing its price target from $10 to $15, while Goldman Sachs lifted its target to $7 and Needham raised it to $13, resulting in a consensus price target of $10.75.
• The company recently reported an earnings per share of ($0.12), which missed analysts' expectations, and insiders hold about 11.85% of the shares, with notable recent sales by a company director.

Shares of Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report) were down 1.1% on Wednesday . The company traded as low as $5.86 and last traded at $5.91. Approximately 2,549,077 shares traded hands during trading, a decline of 87% from the average daily volume of 18,891,154 shares. The stock had previously closed at $5.97.

Analyst Upgrades and Downgrades

AUR has been the topic of a number of analyst reports. Canaccord Genuity Group lifted their price objective on shares of Aurora Innovation from $10.00 to $15.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. The Goldman Sachs Group lifted their price objective on shares of Aurora Innovation from $6.00 to $7.00 and gave the company a "neutral" rating in a research report on Monday, May 12th. Finally, Needham & Company LLC lifted their price objective on shares of Aurora Innovation from $10.00 to $13.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $10.75.

Aurora Innovation Stock Performance

The stock has a 50 day moving average price of $5.73 and a two-hundred day moving average price of $6.55. The company has a market capitalization of $10.20 billion, a PE ratio of -12.01 and a beta of 2.48.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.01). Sell-side analysts predict that Aurora Innovation, Inc. will post -0.49 earnings per share for the current year.

Insider Activity at Aurora Innovation

In related news, Director Gloria R. Boyland sold 46,097 shares of Aurora Innovation stock in a transaction on Friday, June 6th. The stock was sold at an average price of $5.92, for a total transaction of $272,894.24. Following the completion of the sale, the director directly owned 330,425 shares of the company's stock, valued at $1,956,116. The trade was a 12.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 11.85% of the company's stock.

Institutional Trading of Aurora Innovation

Institutional investors have recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Aurora Innovation in the first quarter valued at about $32,000. Signaturefd LLC raised its holdings in Aurora Innovation by 208.0% during the first quarter. Signaturefd LLC now owns 5,283 shares of the company's stock worth $36,000 after acquiring an additional 3,568 shares in the last quarter. GAMMA Investing LLC raised its holdings in Aurora Innovation by 147.3% during the first quarter. GAMMA Investing LLC now owns 5,922 shares of the company's stock worth $40,000 after acquiring an additional 3,527 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Aurora Innovation by 463.3% during the second quarter. Farther Finance Advisors LLC now owns 7,616 shares of the company's stock worth $40,000 after acquiring an additional 6,264 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in Aurora Innovation by 37.2% during the first quarter. PNC Financial Services Group Inc. now owns 7,683 shares of the company's stock worth $52,000 after acquiring an additional 2,085 shares in the last quarter. 44.71% of the stock is currently owned by institutional investors.

About Aurora Innovation

Aurora Innovation, Inc operates as a self-driving technology company in the United States. It focuses on developing Aurora Driver, a platform that brings a suite of self-driving hardware, software, and data services together to adapt and interoperate vehicles. The company was founded in 2017 and is headquartered in Pittsburgh, Pennsylvania.

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