Aurora Innovation (NASDAQ:AUR) Stock Price Down 7.2% - Here's Why

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report) shares were 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 changed hands during mid-day trading, a decline of 14% from the average daily volume of 13,033,583 shares. The stock had previously closed at $6.70.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on AUR shares. Canaccord Genuity Group upped their price objective on 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 reissued an "overweight" rating and set a $10.00 price objective on shares of Aurora Innovation in a report on Thursday, February 13th. The Goldman Sachs Group raised their price objective on Aurora Innovation from $6.00 to $7.00 and gave the stock a "neutral" rating in a research report on Monday, May 12th. TD Cowen initiated coverage on Aurora Innovation in a report on Friday, March 7th. They set a "hold" rating and a $8.00 price target for the company. Finally, Evercore ISI raised 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 five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $10.75.

Aurora Innovation Stock Down 6.3%

The company's fifty day simple moving average is $6.79 and its 200 day simple moving average is $6.85. The firm has a market capitalization of $10.93 billion, a PE ratio of -13.36 and a beta of 2.76.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.01). Equities research analysts forecast that Aurora Innovation, Inc. will post -0.49 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Barclays PLC increased its position in shares of Aurora Innovation by 431.9% during 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 during the last quarter. Nisa Investment Advisors LLC raised its holdings in Aurora Innovation by 441.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 108,937 shares of the company's stock valued at $686,000 after buying an additional 88,821 shares during the period. Janney Montgomery Scott LLC purchased a new stake in shares of Aurora Innovation during the fourth quarter valued at approximately $95,000. Cornerstone Wealth Management LLC increased its stake in shares of Aurora Innovation by 64.7% in the fourth quarter. Cornerstone Wealth Management LLC now owns 73,220 shares of the company's stock worth $461,000 after buying an additional 28,770 shares during the last quarter. Finally, Grimes & Company Inc. acquired a new position in Aurora Innovation in the fourth quarter worth $63,000. Institutional investors and hedge funds 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.

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