Aurora Innovation (NASDAQ:AUR) Trading Down 2.1% - Time to Sell?

Key Points

• Aurora Innovation's stock price fell 2.1% to $6.29 during mid-day trading with a significant decrease in trading volume, down 82% from its average.
• Recent analyst ratings show a consensus of "Moderate Buy" with target prices ranging from $7.00 to $15.00, indicating potential for growth despite current volatility.
• Insider selling was noted, as Director Gloria R. Boyland sold 46,097 shares at an average price of $5.92, resulting in a 12.24% decrease in her holdings, which raises questions about insider confidence.

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report)'s share price dropped 2.1% during mid-day trading on Monday . The stock traded as low as $6.31 and last traded at $6.29. Approximately 3,494,234 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 18,949,150 shares. The stock had previously closed at $6.42.

Wall Street Analyst Weigh In

A number of analysts have weighed in on AUR shares. The Goldman Sachs Group increased their price objective on Aurora Innovation from $6.00 to $7.00 and gave the stock a "neutral" rating in a research report on Monday, May 12th. Canaccord Genuity Group lifted their price target on shares of Aurora Innovation from $10.00 to $15.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Finally, Needham & Company LLC raised their target price on shares of Aurora Innovation from $10.00 to $13.00 and gave the company a "buy" rating in a report on Friday, May 9th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $10.75.

Aurora Innovation Stock Down 2.3%

The stock has a market capitalization of $11.10 billion, a P/E ratio of -13.07 and a beta of 2.48. The business has a 50-day simple moving average of $5.73 and a two-hundred day simple moving average of $6.56.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last announced its quarterly earnings data 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, sell-side analysts forecast that Aurora Innovation, Inc. will post -0.49 earnings per share for the current year.

Insider Buying and Selling at Aurora Innovation

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

Hedge Funds Weigh In On Aurora Innovation

A number of hedge funds have recently bought and sold shares of the company. Raymond James Financial Inc. bought a new position in Aurora Innovation in the 4th quarter valued at $702,000. Commonwealth Equity Services LLC increased its stake in shares of Aurora Innovation by 131.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 30,032 shares of the company's stock worth $189,000 after purchasing an additional 17,053 shares during the last quarter. Corient Private Wealth LLC raised its holdings in shares of Aurora Innovation by 11.5% in the 4th quarter. Corient Private Wealth LLC now owns 21,484 shares of the company's stock worth $135,000 after purchasing an additional 2,216 shares during the period. KLP Kapitalforvaltning AS purchased a new position in Aurora Innovation in the fourth quarter valued at approximately $1,175,000. Finally, LPL Financial LLC grew its holdings in Aurora Innovation by 223.4% during the fourth quarter. LPL Financial LLC now owns 284,993 shares of the company's stock valued at $1,795,000 after purchasing an additional 196,870 shares during the period. 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.

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