Aurora Innovation (NASDAQ:AUR) Stock Price Up 12.4% on Analyst Upgrade

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report)'s stock price rose 12.4% during trading on Friday after Canaccord Genuity Group raised their price target on the stock from $10.00 to $15.00. Canaccord Genuity Group currently has a buy rating on the stock. Aurora Innovation traded as high as $7.72 and last traded at $7.74. Approximately 3,879,508 shares were traded during trading, a decline of 74% from the average daily volume of 14,689,248 shares. The stock had previously closed at $6.88.

Other equities analysts have also issued reports about the company. Needham & Company LLC initiated coverage on Aurora Innovation in a report on Tuesday, April 15th. They set a "buy" rating and a $10.00 target price for the company. Morgan Stanley began coverage on Aurora Innovation in a research note on Monday, March 3rd. They issued an "overweight" rating and a $12.00 target price on the stock. Cantor Fitzgerald restated an "overweight" rating and set a $10.00 price target on shares of Aurora Innovation in a research report on Thursday, February 13th. TD Cowen started coverage on shares of Aurora Innovation in a research report on Friday, March 7th. They issued a "hold" rating and a $8.00 price objective on the stock. 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 investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $10.25.

Institutional Trading of Aurora Innovation

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. CoreCap Advisors LLC increased its holdings in shares of Aurora Innovation by 15.0% in the fourth quarter. CoreCap Advisors LLC now owns 13,177 shares of the company's stock valued at $83,000 after buying an additional 1,717 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of Aurora Innovation by 5.1% in the 4th quarter. CIBC Asset Management Inc now owns 35,587 shares of the company's stock worth $224,000 after acquiring an additional 1,723 shares during the last quarter. United Bank raised its position in shares of Aurora Innovation by 17.0% during the first quarter. United Bank now owns 13,064 shares of the company's stock worth $88,000 after purchasing an additional 1,900 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Aurora Innovation by 3.0% during the first quarter. Principal Financial Group Inc. now owns 70,652 shares of the company's stock valued at $475,000 after purchasing an additional 2,061 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its position in shares of Aurora Innovation by 11.5% in the 4th quarter. Corient Private Wealth LLC now owns 21,484 shares of the company's stock valued at $135,000 after purchasing an additional 2,216 shares during the period. 44.71% of the stock is owned by institutional investors and hedge funds.

Aurora Innovation Stock Performance

The stock has a 50 day moving average of $6.73 and a two-hundred day moving average of $6.79. The stock has a market cap of $12.52 billion, a PE ratio of -15.31 and a beta of 2.76.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported ($0.11) EPS for the quarter. Analysts expect that Aurora Innovation, Inc. will post -0.49 EPS for the current fiscal year.

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.