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

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AUR. Needham & Company LLC boosted their price objective on Aurora Innovation from $10.00 to $13.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. The Goldman Sachs Group lifted their target price on Aurora Innovation from $6.00 to $7.00 and gave the company a "neutral" rating in a research report on Monday, May 12th. Oppenheimer began coverage on Aurora Innovation in a research report on Thursday, March 27th. They issued an "outperform" rating and a $15.00 target price on the stock. Finally, Canaccord Genuity Group lifted their target price on Aurora Innovation from $10.00 to $15.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $10.75.

Aurora Innovation Stock Performance

The company has a 50-day moving average price of $6.01 and a 200-day moving average price of $6.64. The firm has a market capitalization of $9.52 billion, a price-to-earnings ratio of -11.21 and a beta of 2.48.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last announced 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 expect that Aurora Innovation, Inc. will post -0.49 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Gloria R. Boyland sold 46,097 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $5.92, for a total transaction of $272,894.24. Following the completion of the transaction, the director directly owned 330,425 shares of the company's stock, valued at approximately $1,956,116. This represents a 12.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 11.85% of the company's stock.

Hedge Funds Weigh In On Aurora Innovation

Several hedge funds have recently bought and sold shares of the company. Twin Tree Management LP increased its position in Aurora Innovation by 217.2% during the fourth quarter. Twin Tree Management LP now owns 4,450 shares of the company's stock worth $28,000 after buying an additional 3,047 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Aurora Innovation during the first quarter worth $32,000. Signaturefd LLC increased its position in Aurora Innovation by 208.0% during the first quarter. Signaturefd LLC now owns 5,283 shares of the company's stock worth $36,000 after buying an additional 3,568 shares in the last quarter. GAMMA Investing LLC increased its position in Aurora Innovation by 147.3% during the first quarter. GAMMA Investing LLC now owns 5,922 shares of the company's stock worth $40,000 after buying an additional 3,527 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in Aurora Innovation by 37.2% during the first 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 in the last quarter. 44.71% of the stock is owned by hedge funds and other 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.