Aurora Innovation (NASDAQ:AUR) Trading Down 1.2% - Here's What Happened

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report)'s stock price fell 1.2% on Tuesday . The company traded as low as $6.13 and last traded at $6.21. 7,584,159 shares traded hands during trading, a decline of 42% from the average session volume of 13,115,235 shares. The stock had previously closed at $6.28.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AUR. Cantor Fitzgerald restated an "overweight" rating and set a $10.00 target price on shares of Aurora Innovation in a research report on Thursday, February 13th. Needham & Company LLC upped their target price on shares of Aurora Innovation from $10.00 to $13.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Morgan Stanley began coverage on shares of Aurora Innovation in a research report on Monday, March 3rd. They set an "overweight" rating and a $12.00 target price for the company. TD Cowen began coverage on shares of Aurora Innovation in a research report on Friday, March 7th. They set a "hold" rating and a $8.00 target price for the company. Finally, Evercore ISI upped their target price on shares of Aurora Innovation from $5.00 to $6.00 and gave the stock an "in-line" rating in a research report on Tuesday, February 18th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, Aurora Innovation presently has a consensus rating of "Moderate Buy" and an average target price of $10.75.

Aurora Innovation Price Performance

The company's 50-day simple moving average is $6.73 and its 200 day simple moving average is $6.85. The firm has a market cap of $10.34 billion, a P/E ratio of -12.64 and a beta of 2.76.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.01). Analysts anticipate that Aurora Innovation, Inc. will post -0.49 EPS for the current fiscal year.

Institutional Investors Weigh In On Aurora Innovation

Several hedge funds and other institutional investors have recently made changes to their positions in AUR. Barclays PLC raised its stake in shares of Aurora Innovation by 431.9% in the third quarter. Barclays PLC now owns 1,709,749 shares of the company's stock valued at $10,122,000 after acquiring an additional 1,388,307 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Aurora Innovation by 441.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 108,937 shares of the company's stock valued at $686,000 after acquiring an additional 88,821 shares during the period. Janney Montgomery Scott LLC purchased a new stake in shares of Aurora Innovation in the fourth quarter valued at $95,000. Cornerstone Wealth Management LLC raised its stake in shares of Aurora Innovation by 64.7% in the fourth quarter. Cornerstone Wealth Management LLC now owns 73,220 shares of the company's stock valued at $461,000 after acquiring an additional 28,770 shares during the period. Finally, Grimes & Company Inc. purchased a new stake in shares of Aurora Innovation in the fourth quarter valued at $63,000. Hedge funds and other institutional investors own 44.71% of the company's stock.

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.