Aurora Innovation (NASDAQ:AUR) Shares Up 2.7% - Should You Buy?

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report)'s stock price rose 2.7% during mid-day trading on Wednesday . The stock traded as high as $6.35 and last traded at $6.34. Approximately 4,125,170 shares traded hands during trading, a decline of 72% from the average daily volume of 14,986,597 shares. The stock had previously closed at $6.17.

Analyst Ratings Changes

AUR has been the topic of several recent research reports. Canaccord Genuity Group raised their target price on Aurora Innovation from $10.00 to $15.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Needham & Company LLC lifted 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. Finally, The Goldman Sachs Group lifted their price objective on Aurora Innovation from $6.00 to $7.00 and gave the stock a "neutral" rating in a research note on Monday, May 12th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $10.75.

Aurora Innovation Stock Performance

The company has a market cap of $11.36 billion, a PE ratio of -13.38 and a beta of 2.48. The stock's 50 day moving average price is $5.73 and its 200-day moving average price is $6.58.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last issued 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). On average, analysts anticipate that Aurora Innovation, Inc. will post -0.49 EPS for the current year.

Insider Activity at Aurora Innovation

In other Aurora Innovation news, Director Gloria R. Boyland sold 46,097 shares of the company's stock in a transaction 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 completion of the transaction, the director directly owned 330,425 shares in the company, valued at approximately $1,956,116. This represents a 12.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 11.85% of the stock is owned by insiders.

Hedge Funds Weigh In On Aurora Innovation

A number of hedge funds and other institutional investors have recently bought and sold shares of AUR. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Aurora Innovation by 20.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 64,934 shares of the company's stock worth $340,000 after purchasing an additional 11,136 shares during the period. Vontobel Holding Ltd. acquired a new position in shares of Aurora Innovation in the 2nd quarter valued at approximately $89,000. Maryland State Retirement & Pension System acquired a new stake in shares of Aurora Innovation during the 2nd quarter valued at approximately $251,000. Abel Hall LLC raised its position in shares of Aurora Innovation by 26.5% during the 2nd quarter. Abel Hall LLC now owns 20,054 shares of the company's stock valued at $105,000 after acquiring an additional 4,207 shares in the last quarter. Finally, KLP Kapitalforvaltning AS grew its stake in Aurora Innovation by 9.6% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 204,400 shares of the company's stock worth $1,071,000 after buying an additional 17,900 shares during the last quarter. 44.71% of the stock is currently owned by hedge funds and other institutional investors.

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.