Aurora Innovation (NASDAQ:AUR) Stock Price Up 1.9% - Still a Buy?

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report)'s share price rose 1.9% during mid-day trading on Tuesday . The stock traded as high as $5.37 and last traded at $5.21. Approximately 3,321,904 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 14,773,333 shares. The stock had previously closed at $5.11.

Wall Street Analyst Weigh In

AUR has been the subject of several recent research reports. Needham & Company LLC upped their price objective on Aurora Innovation from $10.00 to $13.00 and gave the company a "buy" rating in a research note on Friday, May 9th. The Goldman Sachs Group increased their target price on shares of Aurora Innovation from $6.00 to $7.00 and gave the company a "neutral" rating in a research report on Monday, May 12th. Oppenheimer assumed coverage on Aurora Innovation in a report on Thursday, March 27th. They set an "outperform" rating and a $15.00 price target on the stock. Finally, Canaccord Genuity Group increased their price target on Aurora Innovation from $10.00 to $15.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $10.75.

Aurora Innovation Stock Performance

The business has a fifty day simple moving average of $6.01 and a 200-day simple moving average of $6.64. The stock has a market capitalization of $9.35 billion, a P/E ratio of -11.05 and a beta of 2.48.

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 analysts' consensus estimates of ($0.11) by ($0.01). On average, sell-side analysts anticipate that Aurora Innovation, Inc. will post -0.49 earnings per share for the current year.

Insider Activity

In related news, Director Gloria R. Boyland sold 46,097 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $5.92, for a total value of $272,894.24. Following the transaction, the director directly owned 330,425 shares in the company, valued at $1,956,116. This trade represents a 12.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 11.85% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Aurora Innovation

A number of large investors have recently modified their holdings of AUR. Twin Tree Management LP lifted its holdings in shares of Aurora Innovation by 217.2% in 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 in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Aurora Innovation in the 1st quarter valued at $32,000. Signaturefd LLC raised its position in Aurora Innovation by 208.0% in the 1st quarter. Signaturefd LLC now owns 5,283 shares of the company's stock valued at $36,000 after buying an additional 3,568 shares during the last quarter. GAMMA Investing LLC raised its position in Aurora Innovation by 147.3% in the 1st quarter. GAMMA Investing LLC now owns 5,922 shares of the company's stock valued at $40,000 after buying an additional 3,527 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in Aurora Innovation by 463.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 7,616 shares of the company's stock valued at $40,000 after buying an additional 6,264 shares during the last quarter. 44.71% of the stock is currently owned by institutional investors.

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.