Aurora Innovation (NASDAQ:AUR) Trading Up 2.1% - Here's What Happened

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) traded up 2.1% during trading on Tuesday . The stock traded as high as $6.13 and last traded at $6.09. 5,518,353 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 19,172,775 shares. The stock had previously closed at $5.96.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Needham & Company LLC upped their price target 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. Canaccord Genuity Group increased their price objective on shares of Aurora Innovation from $10.00 to $15.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Finally, The Goldman Sachs Group increased their target price on shares of Aurora Innovation from $6.00 to $7.00 and gave the stock a "neutral" rating in a report on Monday, May 12th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Aurora Innovation has an average rating of "Moderate Buy" and an average price target of $10.75.

Aurora Innovation Trading Up 2.6%

The stock has a market capitalization of $10.82 billion, a P/E ratio of -13.05 and a beta of 2.49. The stock's fifty 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 announced its quarterly earnings results on Wednesday, July 30th. The company reported ($0.11) EPS for the quarter, topping analysts' consensus estimates 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. As a group, analysts expect that Aurora Innovation, Inc. will post -0.49 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of Aurora Innovation

A number of large investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its holdings in Aurora Innovation by 131.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 30,032 shares of the company's stock valued at $189,000 after acquiring an additional 17,053 shares during the period. LPL Financial LLC boosted its position in Aurora Innovation by 223.4% during the fourth quarter. LPL Financial LLC now owns 284,993 shares of the company's stock valued at $1,795,000 after purchasing an additional 196,870 shares in the last quarter. Pictet Asset Management Holding SA raised its stake in Aurora Innovation by 25.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 133,607 shares of the company's stock valued at $842,000 after buying an additional 27,091 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Aurora Innovation in the fourth quarter worth about $1,357,000. Finally, Franklin Resources Inc. raised its position in Aurora Innovation by 194.5% during the fourth quarter. Franklin Resources Inc. now owns 36,378 shares of the company's stock valued at $229,000 after acquiring an additional 24,024 shares in the last quarter. Institutional investors own 44.71% of the company's stock.

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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