Aurora Innovation (NASDAQ:AUR) Shares Up 6.2% - Here's What Happened

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report)'s stock price shot up 6.2% during trading on Monday . The company traded as high as $5.64 and last traded at $5.56. 6,022,309 shares were traded during mid-day trading, a decline of 68% from the average session volume of 18,907,813 shares. The stock had previously closed at $5.23.

Analyst Upgrades and Downgrades

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

Aurora Innovation Trading Up 9.3%

The stock has a market cap of $10.11 billion, a P/E ratio of -11.97 and a beta of 2.48. The firm has a 50-day simple moving average of $5.95 and a two-hundred day simple moving average of $6.61.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.01). Sell-side analysts predict that Aurora Innovation, Inc. will post -0.49 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Gloria R. Boyland sold 46,097 shares of the business's stock in a transaction that occurred 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 completion of the sale, the director owned 330,425 shares in the company, valued at $1,956,116. The trade was a 12.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 11.85% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Uber Technologies Inc bought a new stake in shares of Aurora Innovation during the 4th quarter valued at $2,053,632,000. Toyota Motor Corp purchased a new stake in shares of Aurora Innovation in the 4th quarter valued at about $298,294,000. Lightspeed Management Company L.L.C. purchased a new stake in shares of Aurora Innovation in the 4th quarter valued at about $74,003,000. Norges Bank purchased a new stake in shares of Aurora Innovation in the 4th quarter valued at about $45,772,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Aurora Innovation by 13.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 26,671,319 shares of the company's stock valued at $168,030,000 after acquiring an additional 3,237,609 shares in the last quarter. Hedge funds and other institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.