Aurora Innovation (NASDAQ:AUR) Stock Price Up 4.5% - Here's What Happened

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report) shares shot up 4.5% on Tuesday . The company traded as high as $6.25 and last traded at $6.21. 5,969,199 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 13,295,186 shares. The stock had previously closed at $5.94.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AUR. Oppenheimer began coverage on shares of Aurora Innovation in a report on Thursday, March 27th. They issued an "outperform" rating and a $15.00 price target on the stock. TD Cowen began coverage on shares of Aurora Innovation in a report on Friday, March 7th. They issued a "hold" rating and a $8.00 price target on the stock. Needham & Company LLC lifted their price target on shares of Aurora Innovation from $10.00 to $13.00 and gave the company a "buy" rating in a report on Friday, May 9th. Canaccord Genuity Group raised their target price on shares of Aurora Innovation from $10.00 to $15.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Finally, The Goldman Sachs Group raised their target price 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. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, Aurora Innovation currently has an average rating of "Moderate Buy" and a consensus price target of $10.75.

Aurora Innovation Trading Down 2.6%

The stock's 50 day moving average price is $6.60 and its 200 day moving average price is $6.87. The firm has a market cap of $10.75 billion, a PE ratio of -12.94 and a beta of 2.76.

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 the consensus estimate of ($0.11) by ($0.01). Analysts forecast that Aurora Innovation, Inc. will post -0.49 earnings per share for the current year.

Institutional Investors Weigh In On Aurora Innovation

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AUR. Barclays PLC increased its stake in Aurora Innovation by 431.9% during the 3rd quarter. Barclays PLC now owns 1,709,749 shares of the company's stock worth $10,122,000 after buying an additional 1,388,307 shares during the period. Janney Montgomery Scott LLC purchased a new stake in Aurora Innovation during the 4th quarter worth $95,000. KBC Group NV increased its stake in Aurora Innovation by 41.9% during the 4th quarter. KBC Group NV now owns 37,034 shares of the company's stock worth $233,000 after buying an additional 10,942 shares during the period. GPS Wealth Strategies Group LLC increased its stake in Aurora Innovation by 241.7% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 7,005 shares of the company's stock worth $44,000 after buying an additional 4,955 shares during the period. Finally, Yousif Capital Management LLC purchased a new stake in Aurora Innovation during the 4th quarter worth $65,000. Hedge funds and other institutional investors own 44.71% of the company's stock.

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.