Aurora Innovation (NASDAQ:AUR) Stock Price Up 2.1% - Still a Buy?

Key Points

• Shares of Aurora Innovation rose 2.1%, reaching a last trading price of $6.09, after closing at $5.96, despite a significant drop in trading volume.
• Aurora received positive ratings from analysts, with targets raised by Needham & Company to $13.00 and Canaccord Genuity to $15.00, while Goldman Sachs set a neutral target of $7.00.
• The company recently reported earnings that surpassed expectations, posting a loss of ($0.11) EPS against a forecast of ($0.12), along with revenues of $1.00 million, exceeding estimates of $0.50 million.

Shares of Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report) rose 2.1% on Tuesday . The company traded as high as $6.13 and last traded at $6.09. Approximately 5,518,353 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 19,172,775 shares. The stock had previously closed at $5.96.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Needham & Company LLC boosted their price target on Aurora Innovation from $10.00 to $13.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. The Goldman Sachs Group upped their price target on shares of Aurora Innovation from $6.00 to $7.00 and gave the stock a "neutral" rating in a research report on Monday, May 12th. Finally, Canaccord Genuity Group lifted their price objective 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. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Aurora Innovation presently has an average rating of "Moderate Buy" and an average target price of $10.75.

Aurora Innovation Price Performance

The stock has a market capitalization of $10.85 billion, a P/E ratio of -13.05 and a beta of 2.49. The stock's 50-day simple moving average is $5.71 and its 200 day simple moving average is $6.52.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.01. The company had revenue of $1.00 million for the quarter, compared to the consensus estimate of $0.50 million. As a group, analysts expect that Aurora Innovation, Inc. will post -0.49 earnings per share for the current fiscal year.

Insider Activity at Aurora Innovation

In other news, Director John J. Donahoe purchased 162,337 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The stock was acquired at an average cost of $6.10 per share, with a total value of $990,255.70. Following the acquisition, the director owned 162,337 shares in the company, valued at approximately $990,255.70. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gloria R. Boyland sold 46,097 shares of the business's stock in a transaction on 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 sale, the director owned 330,425 shares of the company's stock, valued at $1,956,116. This trade represents a 12.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.85% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Aurora Innovation

Several institutional investors and hedge funds have recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Aurora Innovation during the 1st quarter valued at $32,000. Signaturefd LLC raised its stake in 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 in the last quarter. GAMMA Investing LLC lifted its position in 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 during the period. Farther Finance Advisors LLC grew its stake in Aurora Innovation by 463.3% during the second quarter. Farther Finance Advisors LLC now owns 7,616 shares of the company's stock worth $40,000 after buying an additional 6,264 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings 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 buying an additional 2,085 shares during the period. 44.71% of the stock is currently 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.