Aurora Innovation (NASDAQ:AUR) Shares Up 1.1% - Still a Buy?

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report)'s stock price shot up 1.1% on Wednesday . The company traded as high as $5.36 and last traded at $5.26. 1,905,176 shares traded hands during trading, a decline of 87% from the average session volume of 14,787,926 shares. The stock had previously closed at $5.20.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Oppenheimer started coverage on Aurora Innovation in a research note on Thursday, March 27th. They issued an "outperform" rating and a $15.00 price target for the company. The Goldman Sachs Group upped their price target on shares of Aurora Innovation from $6.00 to $7.00 and gave the stock a "neutral" rating in a report on Monday, May 12th. Needham & Company LLC upped their price target on shares of Aurora Innovation from $10.00 to $13.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Finally, Canaccord Genuity Group upped their price target on shares of Aurora Innovation from $10.00 to $15.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $10.75.

Aurora Innovation Price Performance

The stock has a market cap of $9.48 billion, a price-to-earnings ratio of -11.17 and a beta of 2.48. The business's 50-day simple moving average is $6.08 and its two-hundred day simple moving average is $6.66.

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

Insider Activity at Aurora Innovation

In other news, Director Gloria R. Boyland sold 46,097 shares of Aurora Innovation stock in a transaction on Friday, June 6th. The shares were sold at an average price of $5.92, for a total transaction of $272,894.24. Following the transaction, the director owned 330,425 shares in the company, valued at approximately $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 accessible through the SEC website. Company insiders own 11.85% of the company's stock.

Hedge Funds Weigh In On Aurora Innovation

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Breakwater Capital Group lifted its holdings in Aurora Innovation by 12.8% in the second quarter. Breakwater Capital Group now owns 87,482 shares of the company's stock valued at $458,000 after buying an additional 9,900 shares during the period. Parallel Advisors LLC lifted its holdings in Aurora Innovation by 9.5% in the second quarter. Parallel Advisors LLC now owns 56,032 shares of the company's stock valued at $294,000 after buying an additional 4,849 shares during the period. Rhumbline Advisers lifted its holdings in Aurora Innovation by 1.8% in the first quarter. Rhumbline Advisers now owns 1,410,036 shares of the company's stock valued at $9,482,000 after buying an additional 24,584 shares during the period. Strs Ohio acquired a new position in Aurora Innovation in the first quarter valued at $746,000. Finally, Acadian Asset Management LLC acquired a new position in Aurora Innovation in the first quarter valued at $1,174,000. Institutional investors and hedge funds 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.

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