Aurora Innovation (NASDAQ:AUR) Trading 2.7% Higher - Here's Why

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report)'s share price traded up 2.7% during trading on Monday . The stock traded as high as $5.68 and last traded at $5.61. 4,204,075 shares were traded during trading, a decline of 69% from the average session volume of 13,765,727 shares. The stock had previously closed at $5.46.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Evercore ISI lifted their price target on Aurora Innovation from $5.00 to $6.00 and gave the stock an "in-line" rating in a research report on Tuesday, February 18th. Needham & Company LLC lifted 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. Oppenheimer assumed coverage on Aurora Innovation in a research report on Thursday, March 27th. They issued an "outperform" rating and a $15.00 price target for the company. The Goldman Sachs Group lifted their price target on 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 target on Aurora Innovation from $10.00 to $15.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Aurora Innovation currently has an average rating of "Moderate Buy" and a consensus price target of $10.75.

Aurora Innovation Trading Up 1.6%

The stock has a 50 day simple moving average of $6.44 and a 200-day simple moving average of $6.86. The firm has a market capitalization of $9.82 billion, a P/E ratio of -11.81 and a beta of 2.59.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.01). As a group, sell-side analysts expect 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 that occurred 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 completion of the transaction, the director now directly owns 330,425 shares in the company, valued at approximately $1,956,116. The trade was a 12.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 11.85% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AUR. Twin Tree Management LP grew its stake in shares of Aurora Innovation by 217.2% during the 4th quarter. Twin Tree Management LP now owns 4,450 shares of the company's stock valued at $28,000 after acquiring an additional 3,047 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Aurora Innovation in the 1st quarter worth approximately $32,000. Signaturefd LLC lifted its holdings in Aurora Innovation by 208.0% in the 1st quarter. Signaturefd LLC now owns 5,283 shares of the company's stock worth $36,000 after purchasing an additional 3,568 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Aurora Innovation by 147.3% in the 1st 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. Finally, PNC Financial Services Group Inc. lifted 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 worth $52,000 after purchasing an additional 2,085 shares in the last quarter. 44.71% of the stock is currently owned by 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.