Aurora Innovation (NASDAQ:AUR) Releases Earnings Results, Hits Estimates

Key Points

• Aurora Innovation met earnings expectations, reporting an adjusted loss of $0.12 per share versus the consensus estimate of a $0.12 loss. Quarterly revenue was $3.00 million, slightly above analysts’ $2.99 million forecast.
• Shares fell 0.6% to $5.09, while the company reported a $10.20 billion market capitalization, a negative net margin, and a negative return on equity.
• Analyst sentiment remains mixed, with an overall “Hold” rating and an average price target of $13.22. Meanwhile, insiders sold 6.39 million shares worth approximately $44.8 million over the past 90 days.

Aurora Innovation (NASDAQ:AUR - Get Free Report) announced its quarterly earnings data on Wednesday. The company reported ($0.12) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.12), FiscalAI reports. The company had revenue of $3.00 million during the quarter, compared to analysts' expectations of $2.99 million. Aurora Innovation had a negative net margin of 18,000.00% and a negative return on equity of 43.94%.

Aurora Innovation Trading Down 0.6%

Shares of AUR traded down $0.03 during trading hours on Wednesday, hitting $5.09. The company had a trading volume of 17,552,191 shares, compared to its average volume of 24,901,949. The company has a market capitalization of $10.20 billion, a PE ratio of -10.83 and a beta of 2.69. The company's fifty day moving average price is $5.79 and its two-hundred day moving average price is $5.62. Aurora Innovation has a one year low of $3.60 and a one year high of $8.56.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group raised their price target on Aurora Innovation from $6.00 to $7.00 and gave the company a "neutral" rating in a report on Thursday, September 24th. Morgan Stanley upped their price objective on Aurora Innovation from $14.00 to $18.00 and gave the company an "overweight" rating in a research report on Friday, September 11th. Oppenheimer increased their price target on shares of Aurora Innovation from $15.00 to $16.00 and gave the stock an "outperform" rating in a research report on Thursday, October 8th. Needham & Company LLC reiterated a "buy" rating and set a $13.00 price objective on shares of Aurora Innovation in a research note on Thursday, September 24th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Aurora Innovation in a report on Thursday, October 15th. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $13.22.

Insider Buying and Selling at Aurora Innovation

In other Aurora Innovation news, Director Michelangelo Volpi sold 2,842,682 shares of Aurora Innovation stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $7.00, for a total transaction of $19,898,774.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 6,390,753 shares of company stock worth $44,826,378 over the last 90 days. 8.52% of the stock is owned by insiders.

About Aurora Innovation

Aurora Innovation, Inc develops autonomous driving technology for commercial trucks and passenger vehicles. Its core product, the Aurora Driver, combines artificial intelligence, sensors, mapping, and vehicle-control software to enable vehicles to perceive their surroundings, plan routes, and operate with limited or no human intervention.

The company focuses initially on autonomous trucking and freight transportation, while also developing technology for passenger mobility applications.

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