Aurora Innovation (NASDAQ:AUR) Trading Down 2.4% - What's Next?

Key Points

• Aurora Innovation's stock is trading down by 2.4%, currently at $6.37 after a low of $6.30, with a significant decline in trading volume of 87% from the average.
• Recently, analysts have shown positive sentiment, with Needham & Company raising its target price to $13.00 and giving a "buy" rating, and Goldman Sachs increasing its target to $7.00.
• The company reported a loss of $0.12 EPS in its latest quarterly results, which was below analysts' expectations, and is projected to have an EPS of -0.49 for the current year.
• Institutional investors own approximately 44.71% of Aurora Innovation's stock, with several firms increasing their positions in recent quarters.

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report)'s stock price dropped 2.4% on Friday . The company traded as low as $6.30 and last traded at $6.37. Approximately 2,532,974 shares were traded during trading, a decline of 87% from the average daily volume of 19,012,918 shares. The stock had previously closed at $6.52.

Analyst Upgrades and Downgrades

AUR has been the topic of a number of research reports. 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 research note on Friday, May 9th. The Goldman Sachs Group raised their price target on shares of 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 shares of Aurora Innovation in a report on Thursday, March 27th. They set an "outperform" rating and a $15.00 price target for the company. Finally, Canaccord Genuity Group raised their price target on shares of Aurora Innovation from $10.00 to $15.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Aurora Innovation presently has a consensus rating of "Moderate Buy" and a consensus price target of $10.75.

Aurora Innovation Stock Performance

The company has a market capitalization of $11.26 billion, a price-to-earnings ratio of -13.28 and a beta of 2.48. The company's fifty day simple moving average is $5.74 and its two-hundred day simple moving average is $6.59.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.01). Sell-side analysts anticipate that Aurora Innovation, Inc. will post -0.49 EPS for the current year.

Insider Activity at Aurora Innovation

In other news, Director Gloria R. Boyland sold 46,097 shares of Aurora Innovation stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $5.92, for a total value of $272,894.24. Following the completion of the transaction, the director directly owned 330,425 shares of the company's stock, valued at approximately $1,956,116. The trade was a 12.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 11.85% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. CoreCap Advisors LLC lifted its position in Aurora Innovation by 15.0% in the 4th quarter. CoreCap Advisors LLC now owns 13,177 shares of the company's stock valued at $83,000 after purchasing an additional 1,717 shares during the last quarter. United Bank lifted its position in Aurora Innovation by 17.0% in the 1st quarter. United Bank now owns 13,064 shares of the company's stock valued at $88,000 after purchasing an additional 1,900 shares during the last quarter. Grimes & Company Inc. lifted its position in Aurora Innovation by 18.2% in the 2nd quarter. Grimes & Company Inc. now owns 13,000 shares of the company's stock valued at $68,000 after purchasing an additional 2,000 shares during the last quarter. Principal Financial Group Inc. lifted its position in Aurora Innovation by 3.0% in the 1st quarter. Principal Financial Group Inc. now owns 70,652 shares of the company's stock valued at $475,000 after purchasing an additional 2,061 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in Aurora Innovation by 37.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,683 shares of the company's stock valued at $52,000 after purchasing an additional 2,085 shares during the last quarter. 44.71% of the stock is 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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