Aurora Innovation (NASDAQ:AUR) Trading Down 4.7% - Here's What Happened

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report) fell 4.7% during trading on Monday . The stock traded as low as $5.67 and last traded at $5.78. 6,524,964 shares traded hands during mid-day trading, a decline of 51% from the average session volume of 13,425,922 shares. The stock had previously closed at $6.06.

Analyst Upgrades and Downgrades

AUR has been the topic of several recent analyst reports. TD Cowen initiated coverage on shares of Aurora Innovation in a research report on Friday, March 7th. They set a "hold" rating and a $8.00 target price on the stock. Needham & Company LLC upped their price target on Aurora Innovation from $10.00 to $13.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Evercore ISI raised their price objective on Aurora Innovation from $5.00 to $6.00 and gave the company an "in-line" rating in a research note on Tuesday, February 18th. Canaccord Genuity Group boosted their target price on Aurora Innovation from $10.00 to $15.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $10.00 price target on shares of Aurora Innovation in a research note on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $10.75.

Aurora Innovation Price Performance

The firm has a market capitalization of $9.99 billion, a PE ratio of -12.02 and a beta of 2.76. The company has a 50-day moving average price of $6.52 and a 200-day moving average price of $6.88.

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). On average, research analysts predict that Aurora Innovation, Inc. will post -0.49 earnings per share for the current fiscal year.

Institutional Trading of Aurora Innovation

Hedge funds and other institutional investors have recently bought and sold shares of the company. Rhumbline Advisers lifted its stake in shares of Aurora Innovation by 1.8% during the 1st quarter. Rhumbline Advisers now owns 1,410,036 shares of the company's stock worth $9,482,000 after purchasing an additional 24,584 shares during the period. Strs Ohio purchased a new position in Aurora Innovation during the first quarter worth about $746,000. Acadian Asset Management LLC acquired a new stake in Aurora Innovation in the 1st quarter worth about $1,174,000. Intech Investment Management LLC grew its holdings in Aurora Innovation by 41.7% in the 1st quarter. Intech Investment Management LLC now owns 620,181 shares of the company's stock valued at $4,171,000 after buying an additional 182,573 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Aurora Innovation by 6.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,046,760 shares of the company's stock valued at $13,764,000 after buying an additional 127,953 shares during the period. 44.71% of the stock is 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.