Aurora Innovation (NASDAQ:AUR) Trading 8.3% Higher - Should You Buy?

Key Points

• Shares jumped 8.3% to $5.515 on Thursday on light trading (5.18M shares, down ~71% vs. average), and the stock trades above its 50- and 200-day simple moving averages (~$4.53 and $4.47).
• Analyst sentiment is mixed — four Buys, two Holds and two Sells — leaving an average rating of "Hold" and an average price target of $10.54, with recent actions ranging from Goldman Sachs raising its target to $5 to other firms cutting targets or issuing sells.
• Fundamentals remain weak: market cap ~$11.8B, negative trailing EPS (last quarter EPS -$0.12 meeting estimates) with just $1.0M in quarterly revenue, and analysts expect roughly -0.47 EPS for the year; institutional investors own about 44.7% of the stock.

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report) traded up 8.3% on Thursday . The company traded as high as $5.43 and last traded at $5.5150. 5,177,743 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 18,137,199 shares. The stock had previously closed at $5.09.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. The Goldman Sachs Group boosted their price target on Aurora Innovation from $4.00 to $5.00 and gave the stock a "neutral" rating in a report on Friday, April 17th. Cantor Fitzgerald reissued an "overweight" rating on shares of Aurora Innovation in a report on Monday, February 9th. Wall Street Zen cut Aurora Innovation from a "hold" rating to a "sell" rating in a report on Sunday. TD Cowen cut their price target on Aurora Innovation from $5.50 to $4.70 and set a "hold" rating for the company in a report on Friday, February 13th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Aurora Innovation in a report on Monday, April 20th. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $10.54.

Aurora Innovation Price Performance

The stock has a 50-day simple moving average of $4.53 and a 200-day simple moving average of $4.47. The stock has a market cap of $11.78 billion, a PE ratio of -13.43 and a beta of 2.44.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last posted its quarterly earnings results on Wednesday, February 11th. The company reported ($0.12) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.12). The firm had revenue of $1.00 million for the quarter, compared to analysts' expectations of $1.47 million. As a group, equities research analysts anticipate that Aurora Innovation, Inc. will post -0.47 EPS for the current year.

Institutional Investors Weigh In On Aurora Innovation

Institutional investors have recently added to or reduced their stakes in the company. Danske Bank A S purchased a new stake in Aurora Innovation during the third quarter valued at about $36,000. N.E.W. Advisory Services LLC purchased a new stake in Aurora Innovation during the third quarter valued at about $44,000. Garton & Associates Financial Advisors LLC purchased a new stake in Aurora Innovation during the fourth quarter valued at about $35,000. Fifth Third Bancorp grew its position in Aurora Innovation by 101.4% during the third quarter. Fifth Third Bancorp now owns 9,930 shares of the company's stock valued at $54,000 after acquiring an additional 5,000 shares during the period. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in Aurora Innovation during the fourth quarter valued at about $39,000. Hedge funds and other institutional investors own 44.71% of the company's stock.

Aurora Innovation Company Profile

Aurora Innovation, Inc is a technology company specializing in the development of self-driving vehicle systems for both passenger and commercial applications. Headquartered in Mountain View, California, Aurora has built an end-to-end platform—known as the Aurora Driver—that integrates proprietary software, machine learning algorithms and a suite of sensors (LiDAR, radar and cameras) to enable vehicles to operate safely and efficiently in diverse driving environments.

The company's core business revolves around designing, testing and deploying its autonomy stack on vehicles from established automotive and transportation partners.

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