Aurora Innovation (NASDAQ:AUR) Stock Price Down 1.7% - Should You Sell?

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report)'s share price fell 1.7% on Tuesday . The stock traded as low as $5.74 and last traded at $5.76. 6,809,664 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 13,468,809 shares. The stock had previously closed at $5.86.

Analyst Ratings Changes

Several analysts have issued reports on the stock. TD Cowen began coverage on shares of Aurora Innovation in a research report on Friday, March 7th. They set a "hold" rating and a $8.00 price target for the company. The Goldman Sachs Group increased 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. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $10.00 price target on shares of Aurora Innovation in a research note on Thursday, February 13th. Evercore ISI increased their price objective on Aurora Innovation from $5.00 to $6.00 and gave the company an "in-line" rating in a research note on Tuesday, February 18th. Finally, Morgan Stanley started coverage on shares of Aurora Innovation in a research note on Monday, March 3rd. They issued an "overweight" rating and a $12.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Aurora Innovation currently has an average rating of "Moderate Buy" and an average target price of $10.75.

Aurora Innovation Stock Up 3.9%

The business has a fifty day moving average of $6.50 and a 200 day moving average of $6.88. The company has a market cap of $10.38 billion, a P/E ratio of -12.49 and a beta of 2.59.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.01). On average, sell-side analysts anticipate that Aurora Innovation, Inc. will post -0.49 EPS for the current fiscal year.

Institutional Investors Weigh In On Aurora Innovation

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Toyota Motor Corp purchased a new stake in shares of Aurora Innovation in the 4th quarter worth approximately $298,294,000. Uber Technologies Inc bought a new stake in Aurora Innovation in the fourth quarter worth $2,053,632,000. Lightspeed Management Company L.L.C. bought a new position in shares of Aurora Innovation during the fourth quarter valued at $74,003,000. Vanguard Group Inc. increased its stake in Aurora Innovation by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 113,020,406 shares of the company's stock valued at $712,029,000 after purchasing an additional 2,687,191 shares in the last quarter. Finally, Swiss National Bank lifted its position in Aurora Innovation by 22.3% in the 4th quarter. Swiss National Bank now owns 1,839,400 shares of the company's stock valued at $11,588,000 after acquiring an additional 335,000 shares in the last quarter. Hedge funds and other institutional investors own 44.71% of the company's stock.

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.