Aurora Innovation (NASDAQ:AUR) Trading 7.7% Higher - Here's Why

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report)'s stock price traded up 7.7% during trading on Monday . The company traded as high as $6.28 and last traded at $6.12. 9,863,275 shares traded hands during mid-day trading, a decline of 13% from the average session volume of 11,318,971 shares. The stock had previously closed at $5.68.

Analyst Ratings Changes

AUR has been the topic of a number of research reports. TD Cowen initiated coverage on Aurora Innovation in a research note on Friday, March 7th. They issued a "hold" rating and a $8.00 price objective on the stock. Canaccord Genuity Group upped their price target on shares of Aurora Innovation from $7.00 to $10.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Oppenheimer initiated coverage on shares of Aurora Innovation in a research note on Thursday, March 27th. They issued an "outperform" rating and a $15.00 price objective for the company. Cantor Fitzgerald restated an "overweight" rating and set a $10.00 target price on shares of Aurora Innovation in a research report on Thursday, February 13th. Finally, Evercore ISI lifted their price target on 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 analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Aurora Innovation presently has an average rating of "Moderate Buy" and an average price target of $9.57.

Aurora Innovation Price Performance

The firm has a market capitalization of $10.77 billion, a P/E ratio of -13.17 and a beta of 2.77. The firm has a 50-day moving average price of $7.15 and a two-hundred day moving average price of $6.68.

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

Institutional Trading of Aurora Innovation

A number of hedge funds have recently bought and sold shares of the stock. Garden State Investment Advisory Services LLC bought a new position in Aurora Innovation in the third quarter worth about $192,000. HighTower Advisors LLC grew its position in shares of Aurora Innovation by 13.9% in the 3rd quarter. HighTower Advisors LLC now owns 95,450 shares of the company's stock worth $566,000 after buying an additional 11,628 shares during the last quarter. State Street Corp raised its stake in shares of Aurora Innovation by 15.2% during the 3rd quarter. State Street Corp now owns 22,183,252 shares of the company's stock worth $131,325,000 after acquiring an additional 2,920,653 shares in the last quarter. Wellington Management Group LLP lifted its position in Aurora Innovation by 173.9% during the third quarter. Wellington Management Group LLP now owns 2,381,589 shares of the company's stock valued at $14,099,000 after acquiring an additional 1,512,061 shares during the last quarter. Finally, Barclays PLC boosted its stake in Aurora Innovation by 431.9% in the third quarter. Barclays PLC now owns 1,709,749 shares of the company's stock valued at $10,122,000 after acquiring an additional 1,388,307 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.