Aurora Innovation (NASDAQ:AUR) Trading Up 1.7% - Should You Buy?

Key Points

• Aurora Innovation's share price increased by 1.7% during trading on Monday, reaching a last traded price of $5.75 with a significant decline in trading volume.
• Analyst ratings for Aurora Innovation have been positive, with several firms raising their target prices; Canaccord Genuity upgraded it to $15.00 while Needham & Company raised it to $13.00.
• The company reported a quarterly earnings per share of ($0.11), exceeding analysts' expectations, and its revenue for the quarter was $1.00 million, above the predicted $0.50 million.

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report)'s share price was up 1.7% during trading on Monday . The company traded as high as $5.88 and last traded at $5.75. Approximately 4,501,074 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 19,024,869 shares. The stock had previously closed at $5.65.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on AUR shares. Canaccord Genuity Group lifted their target price 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. The Goldman Sachs Group boosted their price objective on shares of Aurora Innovation from $6.00 to $7.00 and gave the company a "neutral" rating in a research note on Monday, May 12th. Finally, Needham & Company LLC boosted their price objective 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. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $10.75.

Aurora Innovation Trading Up 5.0%

The firm has a market capitalization of $10.50 billion, a price-to-earnings ratio of -12.63 and a beta of 2.49. The stock's 50 day moving average price is $5.71 and its two-hundred day moving average price is $6.53.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.01. The business had revenue of $1.00 million during the quarter, compared to analysts' expectations of $0.50 million. On average, sell-side analysts forecast that Aurora Innovation, Inc. will post -0.49 earnings per share for the current fiscal 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 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 sale, the director directly owned 330,425 shares in the company, valued at $1,956,116. The trade was a 12.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 11.85% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Aurora Innovation

Several institutional investors and hedge funds have recently made changes to their positions in the business. CoreCap Advisors LLC lifted its holdings 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 in the last quarter. United Bank lifted its holdings in shares of Aurora Innovation by 17.0% during the 1st quarter. United Bank now owns 13,064 shares of the company's stock worth $88,000 after acquiring an additional 1,900 shares during the period. Grimes & Company Inc. lifted its holdings in shares of Aurora Innovation by 18.2% during the 2nd quarter. Grimes & Company Inc. now owns 13,000 shares of the company's stock worth $68,000 after acquiring an additional 2,000 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Aurora Innovation by 3.0% during the 1st quarter. Principal Financial Group Inc. now owns 70,652 shares of the company's stock worth $475,000 after acquiring an additional 2,061 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in Aurora Innovation by 37.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,683 shares of the company's stock worth $52,000 after purchasing an additional 2,085 shares in the last quarter. 44.71% of the stock is currently owned by hedge funds and other institutional investors.

Aurora Innovation Company Profile

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.

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.