Aurora Innovation (NASDAQ:AUR) Shares Down 6.7% - Here's Why

Key Points

• Aurora Innovation shares fell 6.7% to about $5.64, with trading volume roughly 70% below the stock’s average daily volume.
• Analyst sentiment remains broadly positive but mixed: eight analysts rate the stock a Buy, two Hold, and two Sell, producing a “Moderate Buy” consensus and an average price target of $13.11.
• The company missed quarterly EPS expectations, reporting a $0.14 loss versus the $0.12 consensus, although revenue reached $2.0 million and doubled year over year. Insiders have also sold more than 6.39 million shares over the past three months.

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report) shares fell 6.7% during trading on Monday. The stock traded as low as $5.66 and last traded at $5.6350. 7,396,901 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 25,063,072 shares. The stock had previously closed at $6.04.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Needham & Company LLC reissued a "buy" rating and set a $13.00 target price on shares of Aurora Innovation in a report on Thursday. Evercore reiterated an "outperform" rating on shares of Aurora Innovation in a research note on Tuesday, September 15th. The Goldman Sachs Group increased their price objective on Aurora Innovation from $6.00 to $7.00 and gave the stock a "neutral" rating in a report on Thursday. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Aurora Innovation in a report on Friday, July 17th. Finally, Canaccord Genuity Group upped their target price on shares of Aurora Innovation from $15.00 to $17.00 and gave the stock a "buy" rating in a report on Thursday. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $13.11.

Aurora Innovation Stock Down 9.2%

The stock has a 50-day simple moving average of $6.34 and a two-hundred day simple moving average of $5.99. The firm has a market cap of $10.99 billion, a PE ratio of -11.67 and a beta of 2.63.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.02). Aurora Innovation had a negative return on equity of 43.94% and a negative net margin of 18,000.00%.The business had revenue of $2.00 million during the quarter, compared to analysts' expectations of $1.66 million. During the same quarter in the previous year, the business earned ($0.11) EPS. Aurora Innovation's revenue for the quarter was up 100.0% compared to the same quarter last year. Research analysts expect that Aurora Innovation, Inc. will post -0.49 earnings per share for the current year.

Insider Buying and Selling at Aurora Innovation

In related news, Director Michelangelo Volpi sold 2,842,682 shares of the 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders sold 6,390,753 shares of company stock valued at $44,826,378. Insiders own 8.52% of the company's stock.

Institutional Investors Weigh In On Aurora Innovation

A number of hedge funds and other institutional investors have recently bought and sold shares of AUR. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Aurora Innovation in the 4th quarter worth approximately $39,000. Triad Wealth Partners LLC purchased a new position in Aurora Innovation during the first quarter valued at $43,000. Capula Management Ltd purchased a new position in Aurora Innovation during the first quarter valued at $43,000. Navigation Group LLC bought a new stake in Aurora Innovation in the first quarter worth $48,000. Finally, Frank Rimerman Advisors LLC purchased a new stake in shares of Aurora Innovation in the first quarter worth $50,000. Hedge funds and other institutional investors own 44.71% of the company's stock.

Aurora Innovation Company Profile

Aurora Innovation, Inc develops autonomous vehicle technology designed to transport people and goods without human drivers. Its core product, the Aurora Driver, combines artificial intelligence, sensors, mapping, and other software and hardware systems to enable automated driving across trucking, ride-hailing, and logistics applications.

The company is initially focused on autonomous trucking, where its technology is intended to support long-haul freight operations and improve safety, efficiency, and vehicle utilization.

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