Aurora Innovation (NASDAQ:AUR) Trading 3.2% Higher - Here's What Happened

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report)'s share price traded up 3.2% on Tuesday . The stock traded as high as $5.63 and last traded at $5.60. 3,425,843 shares were traded during mid-day trading, a decline of 76% from the average session volume of 14,044,684 shares. The stock had previously closed at $5.42.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. TD Cowen assumed coverage on Aurora Innovation in a report on Friday, March 7th. They issued a "hold" rating and a $8.00 target price for the company. The Goldman Sachs Group boosted their target price on Aurora Innovation from $6.00 to $7.00 and gave the company a "neutral" rating in a report on Monday, May 12th. Canaccord Genuity Group boosted 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. Morgan Stanley assumed coverage on Aurora Innovation in a report on Monday, March 3rd. They issued an "overweight" rating and a $12.00 target price for the company. Finally, Needham & Company LLC boosted their target price on Aurora Innovation from $10.00 to $13.00 and gave the company a "buy" rating in a report on Friday, May 9th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $10.75.

Aurora Innovation Price Performance

The company has a 50-day simple moving average of $6.34 and a 200-day simple moving average of $6.82. The stock has a market cap of $9.69 billion, a PE ratio of -11.42 and a beta of 2.59.

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

Insider Activity

In related news, Director Gloria R. Boyland sold 46,097 shares of Aurora Innovation 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 now directly owns 330,425 shares in the company, valued at $1,956,116. The trade was a 12.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 11.85% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AUR. Twin Tree Management LP raised its holdings in Aurora Innovation by 217.2% in the 4th quarter. Twin Tree Management LP now owns 4,450 shares of the company's stock valued at $28,000 after acquiring an additional 3,047 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Aurora Innovation in the 1st quarter valued at $32,000. Signaturefd LLC grew its stake in shares of Aurora Innovation by 208.0% during 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 period. GAMMA Investing LLC grew its stake in shares of Aurora Innovation by 147.3% during 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 period. Finally, PNC Financial Services Group Inc. grew its stake in shares of Aurora Innovation by 37.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,683 shares of the company's stock valued at $52,000 after buying an additional 2,085 shares during the period. 44.71% of the stock is currently owned by institutional investors and hedge funds.

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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