Aurora Innovation (NASDAQ:AUR) Trading Down 5.8% - Here's Why

Key Points

• Aurora Innovation's stock price fell by 5.8%, trading at $5.92 after reaching a low of $5.93, with a significant decrease in trading volume.
• Analysts have varying ratings for Aurora Innovation, with target prices ranging from $7.00 to $15.00, and an average price target of $10.75 resulting in a consensus of "Moderate Buy."
• Insider trading activity included Director Gloria R. Boyland selling 46,097 shares at an average price of $5.92, reducing her stake in the company by 12.24%.

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report)'s share price fell 5.8% on Tuesday . The stock traded as low as $5.93 and last traded at $5.92. 4,289,308 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 18,894,215 shares. The stock had previously closed at $6.28.

Analyst Upgrades and Downgrades

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

Aurora Innovation Stock Down 3.9%

The stock's 50-day moving average price is $5.72 and its 200-day moving average price is $6.54. The company has a market capitalization of $9.88 billion, a price-to-earnings ratio of -11.84 and a beta of 2.48.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.01. The business had revenue of $1.00 million during the quarter, compared to the consensus estimate of $0.50 million. On average, equities research analysts anticipate that Aurora Innovation, Inc. will post -0.49 EPS 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 firm's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $5.92, for a total transaction of $272,894.24. Following the sale, the director directly owned 330,425 shares in the company, valued at approximately $1,956,116. This trade represents a 12.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 11.85% of the stock is owned by corporate insiders.

Institutional Trading of Aurora Innovation

Hedge funds have recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Aurora Innovation during the 1st quarter worth approximately $32,000. Signaturefd LLC raised its holdings in Aurora Innovation by 208.0% during the 1st quarter. Signaturefd LLC now owns 5,283 shares of the company's stock worth $36,000 after buying an additional 3,568 shares during the period. GAMMA Investing LLC raised its holdings in Aurora Innovation by 147.3% during the 1st 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 period. Farther Finance Advisors LLC raised its holdings in Aurora Innovation by 463.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 7,616 shares of the company's stock worth $40,000 after buying an additional 6,264 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in Aurora Innovation by 37.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,683 shares of the company's stock worth $52,000 after buying an additional 2,085 shares during the period. 44.71% of the stock is currently owned by institutional investors and hedge funds.

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.