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Aurora Innovation (NASDAQ:AUR) Trading Down 2.2% - What's Next?

Aurora Innovation logo with Business Services background

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report)'s stock price traded down 2.2% on Tuesday . The company traded as low as $5.00 and last traded at $5.13. 8,896,435 shares traded hands during mid-day trading, a decline of 39% from the average session volume of 14,606,348 shares. The stock had previously closed at $5.24.

Analysts Set New Price Targets

AUR has been the subject of several recent analyst reports. Morgan Stanley assumed coverage on shares of Aurora Innovation in a report on Monday, March 3rd. They issued an "overweight" rating and a $12.00 target price for the company. The Goldman Sachs Group lifted their price target on Aurora Innovation from $6.00 to $7.00 and gave the company a "neutral" rating in a report on Monday, May 12th. Oppenheimer assumed coverage on Aurora Innovation in a research note on Thursday, March 27th. They issued an "outperform" rating and a $15.00 price objective for the company. Canaccord Genuity Group raised their price objective on Aurora Innovation from $10.00 to $15.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Finally, Needham & Company LLC upped 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 investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $10.75.

Check Out Our Latest Stock Analysis on Aurora Innovation

Aurora Innovation Price Performance

The stock has a market cap of $8.99 billion, a price-to-earnings ratio of -10.59 and a beta of 2.59. The business has a fifty day moving average of $6.27 and a 200 day moving average of $6.75.

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

Insider Activity at Aurora Innovation

In related news, Director Gloria R. Boyland sold 46,097 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $5.92, for a total value of $272,894.24. Following the completion of the sale, the director directly owned 330,425 shares in the company, valued at approximately $1,956,116. The trade was a 12.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 11.85% of the company's stock.

Institutional Trading of Aurora Innovation

A number of institutional investors and hedge funds have recently modified their holdings of AUR. Uber Technologies Inc bought a new stake in shares of Aurora Innovation in the fourth quarter valued at approximately $2,053,632,000. Toyota Motor Corp bought a new stake in Aurora Innovation in the 4th quarter valued at $298,294,000. Lightspeed Management Company L.L.C. acquired a new stake in Aurora Innovation in the 4th quarter worth $74,003,000. Norges Bank bought a new position in shares of Aurora Innovation during the 4th quarter worth about $45,772,000. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Aurora Innovation by 13.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 26,671,319 shares of the company's stock valued at $168,030,000 after buying an additional 3,237,609 shares during the last quarter. 44.71% of the stock is currently owned by institutional investors and hedge funds.

Aurora Innovation Company Profile

(Get Free Report)

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.

Further Reading

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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