Aurora Innovation (NASDAQ:AUR) Trading Up 5.6% on Better-Than-Expected Earnings

Key Points

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Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report) shares rose 5.6% during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $6.33 and last traded at $6.12. Approximately 7,110,639 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 18,896,289 shares. The stock had previously closed at $5.79.

The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.01. The business had revenue of $1.00 million during the quarter, compared to analyst estimates of $0.50 million.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AUR. Needham & Company LLC raised their price objective on Aurora Innovation from $10.00 to $13.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Canaccord Genuity Group upped their target price on Aurora Innovation from $10.00 to $15.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Finally, The Goldman Sachs Group lifted their price target on Aurora Innovation from $6.00 to $7.00 and gave the stock a "neutral" rating in a research note on Monday, May 12th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $10.75.

Insider Buying and Selling at Aurora Innovation

In related news, Director Gloria R. Boyland sold 46,097 shares of the company's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $5.92, for a total transaction of $272,894.24. Following the transaction, the director directly owned 330,425 shares of the company's stock, valued at approximately $1,956,116. The trade was a 12.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 11.85% of the company's stock.

Institutional Investors Weigh In On Aurora Innovation

A number of institutional investors have recently bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Aurora Innovation during the 1st quarter worth about $32,000. Signaturefd LLC grew its stake in shares of Aurora Innovation by 208.0% in 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 increased its holdings in Aurora Innovation by 147.3% in the first quarter. GAMMA Investing LLC now owns 5,922 shares of the company's stock worth $40,000 after buying an additional 3,527 shares during the last quarter. Farther Finance Advisors LLC raised its position in Aurora Innovation by 463.3% during the second quarter. Farther Finance Advisors LLC now owns 7,616 shares of the company's stock valued at $40,000 after acquiring an additional 6,264 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Aurora Innovation by 37.2% in the first quarter. PNC Financial Services Group Inc. now owns 7,683 shares of the company's stock valued at $52,000 after acquiring an additional 2,085 shares during the last quarter. 44.71% of the stock is currently owned by institutional investors and hedge funds.

Aurora Innovation Price Performance

The stock has a market capitalization of $9.79 billion, a price-to-earnings ratio of -11.78 and a beta of 2.48. The stock's 50 day simple moving average is $5.72 and its 200-day simple moving average is $6.54.

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.