Aurora Innovation (NASDAQ:AUR) Stock Price Up 1.7% - Here's What Happened

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) shares shot up 1.7% during trading on Monday . The company traded as high as $5.88 and last traded at $5.75. 4,501,074 shares were traded during trading, a decline of 76% from the average session volume of 19,024,869 shares. The stock had previously closed at $5.65.

Wall Street Analysts Forecast Growth

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

Aurora Innovation Stock Up 1.0%

The stock's 50-day simple moving average is $5.71 and its 200 day simple moving average is $6.52. The firm has a market cap of $10.79 billion, a P/E ratio of -12.95 and a beta of 2.49.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported ($0.11) earnings per share for the quarter, beating analysts' consensus estimates of ($0.12) by $0.01. The firm had revenue of $1.00 million for the quarter, compared to the consensus estimate of $0.50 million. On average, research analysts forecast that Aurora Innovation, Inc. will post -0.49 earnings per share for the current fiscal year.

Insider Transactions at Aurora Innovation

In other news, Director Gloria R. Boyland sold 46,097 shares of the company's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $5.92, for a total transaction of $272,894.24. Following the transaction, the director directly owned 330,425 shares of the company's stock, valued at $1,956,116. This represents a 12.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 11.85% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Aurora Innovation in the 1st quarter valued at $32,000. Signaturefd LLC grew its position in shares of Aurora Innovation by 208.0% in the first quarter. Signaturefd LLC now owns 5,283 shares of the company's stock valued at $36,000 after purchasing an additional 3,568 shares during the period. GAMMA Investing LLC lifted its stake in shares of Aurora Innovation by 147.3% during the first quarter. GAMMA Investing LLC now owns 5,922 shares of the company's stock worth $40,000 after purchasing an additional 3,527 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Aurora Innovation by 463.3% in the second quarter. Farther Finance Advisors LLC now owns 7,616 shares of the company's stock worth $40,000 after purchasing an additional 6,264 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in shares of Aurora Innovation by 37.2% in the first 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 owned by institutional investors.

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.