Aurora Innovation (NASDAQ:AUR) Trading 2.9% Higher - Should You Buy?

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report)'s stock price was up 2.9% on Wednesday . The company traded as high as $6.08 and last traded at $6.13. Approximately 5,725,198 shares changed hands during trading, a decline of 58% from the average daily volume of 13,666,204 shares. The stock had previously closed at $5.95.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on AUR shares. Morgan Stanley started coverage on shares of Aurora Innovation in a research note on Monday, March 3rd. They set an "overweight" rating and a $12.00 price target on the stock. Cantor Fitzgerald reiterated an "overweight" rating and issued a $10.00 price objective on shares of Aurora Innovation in a research report on Thursday, February 13th. Oppenheimer began coverage on shares of Aurora Innovation in a research report on Thursday, March 27th. They issued an "outperform" rating and a $15.00 price objective on the stock. Needham & Company LLC boosted their price objective 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. Finally, TD Cowen began 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. 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.com, Aurora Innovation currently has a consensus rating of "Moderate Buy" and a consensus target price of $10.75.

Aurora Innovation Stock Performance

The firm's 50-day moving average is $6.45 and its 200 day moving average is $6.86. The firm has a market capitalization of $9.66 billion, a PE ratio of -11.62 and a beta of 2.59.

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). As a group, equities analysts anticipate that Aurora Innovation, Inc. will post -0.49 earnings per share for the current year.

Insider Buying and Selling at Aurora Innovation

In other Aurora Innovation 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 value of $272,894.24. Following the transaction, the director now directly owns 330,425 shares in the company, valued at approximately $1,956,116. This represents a 12.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 11.85% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Uber Technologies Inc purchased a new position in Aurora Innovation in the 4th quarter valued at about $2,053,632,000. Vanguard Group Inc. lifted its holdings in shares of Aurora Innovation by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 115,413,401 shares of the company's stock worth $776,155,000 after acquiring an additional 2,392,995 shares during the period. Toyota Motor Corp purchased a new position in shares of Aurora Innovation during the 4th quarter worth about $298,294,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Aurora Innovation by 13.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 26,671,319 shares of the company's stock worth $168,030,000 after acquiring an additional 3,237,609 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Aurora Innovation by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 23,374,230 shares of the company's stock worth $147,292,000 after acquiring an additional 577,704 shares during the period. 44.71% of the stock is currently owned by hedge funds and other institutional investors.

Aurora Innovation Company Profile

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.