Aurora Innovation (NASDAQ:AUR) Shares Down 7.2% - Here's What Happened

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report) was down 7.2% during mid-day trading on Monday . The company traded as low as $6.13 and last traded at $6.22. Approximately 11,212,246 shares traded hands during trading, a decline of 14% from the average daily volume of 13,033,583 shares. The stock had previously closed at $6.70.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Evercore ISI increased their price objective 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. TD Cowen began coverage on Aurora Innovation in a research report on Friday, March 7th. They issued a "hold" rating and a $8.00 target price for the company. Canaccord Genuity Group upped their target price on shares of Aurora Innovation from $10.00 to $15.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $10.00 price target on shares of Aurora Innovation in a research report on Thursday, February 13th. Finally, Morgan Stanley assumed coverage on shares of Aurora Innovation in a report on Monday, March 3rd. They issued an "overweight" rating and a $12.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Aurora Innovation currently has a consensus rating of "Moderate Buy" and an average price target of $10.75.

Aurora Innovation Price Performance

The stock has a 50 day simple moving average of $6.73 and a two-hundred day simple moving average of $6.85. The company has a market cap of $10.34 billion, a PE ratio of -12.64 and a beta of 2.76.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last released its quarterly 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). As a group, equities analysts anticipate that Aurora Innovation, Inc. will post -0.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Aurora Innovation

A number of large investors have recently bought and sold shares of AUR. Twin Tree Management LP increased its position in Aurora Innovation by 217.2% during the 4th quarter. Twin Tree Management LP now owns 4,450 shares of the company's stock worth $28,000 after purchasing an additional 3,047 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Aurora Innovation during the first quarter worth about $32,000. Signaturefd LLC raised its position in shares of 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 purchasing an additional 3,568 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of 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 acquiring an additional 3,527 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC boosted its stake in shares of Aurora Innovation by 241.7% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 7,005 shares of the company's stock valued at $44,000 after acquiring an additional 4,955 shares during the last quarter. Hedge funds and other institutional investors own 44.71% of the company's stock.

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.