Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report)'s stock price gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $5.79, but opened at $6.22. Aurora Innovation shares last traded at $6.23, with a volume of 4,725,904 shares changing hands.
The company reported ($0.11) earnings per share for the quarter, beating analysts' consensus estimates of ($0.12) by $0.01. The firm had revenue of $1.00 million for the quarter, compared to analysts' expectations of $0.50 million.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on AUR. Needham & Company LLC lifted their target price on shares of Aurora Innovation from $10.00 to $13.00 and gave the company a "buy" rating in a research note on Friday, May 9th. The Goldman Sachs Group boosted their price target on shares of Aurora Innovation from $6.00 to $7.00 and gave the stock a "neutral" rating in a research note on Monday, May 12th. Finally, Canaccord Genuity Group boosted their price target on shares of Aurora Innovation from $10.00 to $15.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $10.75.
Read Our Latest Stock Analysis on AUR
Insider Activity
In other news, Director Gloria R. Boyland sold 46,097 shares of the company's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $5.92, for a total transaction of $272,894.24. Following the sale, the director directly owned 330,425 shares in the company, valued at approximately $1,956,116. This represents a 12.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 11.85% of the company's stock.
Institutional Trading of Aurora Innovation
Several hedge funds have recently made changes to their positions in AUR. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Aurora Innovation during the 1st quarter valued at about $32,000. Signaturefd LLC raised its position in shares of Aurora Innovation by 208.0% during the 1st quarter. Signaturefd LLC now owns 5,283 shares of the company's stock valued at $36,000 after buying an additional 3,568 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Aurora Innovation by 147.3% during the 1st quarter. GAMMA Investing LLC now owns 5,922 shares of the company's stock valued at $40,000 after buying an additional 3,527 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Aurora Innovation by 463.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 7,616 shares of the company's stock valued at $40,000 after buying an additional 6,264 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Aurora Innovation by 37.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,683 shares of the company's stock valued at $52,000 after buying an additional 2,085 shares in the last quarter. 44.71% of the stock is currently owned by hedge funds and other institutional investors.
Aurora Innovation Trading Down 2.8%
The firm's 50-day moving average price is $5.71 and its 200-day moving average price is $6.54. The stock has a market capitalization of $9.99 billion, a PE ratio of -12.02 and a beta of 2.49.
About Aurora Innovation
(
Get Free Report)
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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