Aurora Innovation (NASDAQ:AUR) Trading Up 2.7% - Here's Why

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

Analyst Upgrades and Downgrades

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

Aurora Innovation Trading Up 0.2%

The firm has a 50-day moving average of $5.74 and a 200-day moving average of $6.59. The stock has a market capitalization of $11.47 billion, a price-to-earnings ratio of -13.53 and a beta of 2.48.

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

Insider Buying and Selling

In other Aurora Innovation news, Director Gloria R. Boyland sold 46,097 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $5.92, for a total value of $272,894.24. Following the completion of the sale, the director owned 330,425 shares in the company, valued at approximately $1,956,116. This represents a 12.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 11.85% of the company's stock.

Institutional Trading of Aurora Innovation

Several institutional investors have recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Aurora Innovation during the 1st quarter worth $32,000. Signaturefd LLC increased its stake in Aurora Innovation by 208.0% in the first quarter. Signaturefd LLC now owns 5,283 shares of the company's stock valued at $36,000 after purchasing an additional 3,568 shares during the period. GAMMA Investing LLC increased its stake in shares of 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 acquiring an additional 3,527 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Aurora Innovation by 463.3% during the second quarter. Farther Finance Advisors LLC now owns 7,616 shares of the company's stock worth $40,000 after acquiring an additional 6,264 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in shares of 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 acquiring an additional 2,085 shares during the period. Institutional investors and hedge funds 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.