TD Cowen Has Lowered Expectations for Aurora Innovation (NASDAQ:AUR) Stock Price

Key Points

• TD Cowen has lowered its price target for Aurora Innovation from $7.40 to $5.50, maintaining a "hold" rating on the stock.
• Aurora Innovation reported a revenue of $1.00 million for the quarter, missing analysts' expectations of $1.23 million, while the earnings per share exceeded estimates slightly.
• The stock has seen a significant trading volume recently, with over 24 million shares traded on Thursday, and currently has a market capitalization of $9.40 billion.

Aurora Innovation (NASDAQ:AUR - Get Free Report) had its price target lowered by equities research analysts at TD Cowen from $7.40 to $5.50 in a report released on Thursday,Benzinga reports. The firm currently has a "hold" rating on the stock. TD Cowen's price target indicates a potential upside of 7.95% from the stock's current price.

A number of other equities research analysts have also weighed in on the stock. Cowen restated a "hold" rating on shares of Aurora Innovation in a report on Thursday. UBS Group restated an "underperform" rating on shares of Aurora Innovation in a report on Wednesday. Weiss Ratings restated a "sell (d-)" rating on shares of Aurora Innovation in a report on Wednesday, October 8th. Canaccord Genuity Group restated a "buy" rating and issued a $15.00 price objective on shares of Aurora Innovation in a report on Wednesday. Finally, Oppenheimer restated an "outperform" rating and issued a $15.00 price objective on shares of Aurora Innovation in a report on Wednesday. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $10.44.

Aurora Innovation Price Performance

Shares of AUR stock traded down $0.01 during trading hours on Thursday, hitting $5.10. The company had a trading volume of 24,229,507 shares, compared to its average volume of 19,088,764. The stock has a market capitalization of $9.40 billion, a PE ratio of -11.32 and a beta of 2.45. Aurora Innovation has a fifty-two week low of $4.75 and a fifty-two week high of $10.77. The company's fifty day moving average is $5.56 and its 200 day moving average is $5.92.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last released its earnings results on Tuesday, October 28th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.12) by $0.01. The business had revenue of $1.00 million for the quarter, compared to analyst estimates of $1.23 million. During the same quarter last year, the company earned ($0.13) earnings per share. Equities analysts forecast that Aurora Innovation will post -0.49 earnings per share for the current year.

Insider Activity

In related news, Director Brittany Bagley sold 50,000 shares of the firm's stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $5.39, for a total value of $269,500.00. Following the completion of the sale, the director owned 398,372 shares in the company, valued at $2,147,225.08. This trade represents a 11.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John J. Donahoe acquired 162,337 shares of Aurora Innovation stock in a transaction that occurred on Wednesday, August 6th. The stock was bought at an average price of $6.10 per share, with a total value of $990,255.70. Following the purchase, the director directly owned 162,337 shares of the company's stock, valued at approximately $990,255.70. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 11.85% of the stock is owned by insiders.

Institutional Trading of Aurora Innovation

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Signaturefd LLC raised its position in Aurora Innovation by 208.0% during the first quarter. Signaturefd LLC now owns 5,283 shares of the company's stock worth $36,000 after acquiring an additional 3,568 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Aurora Innovation by 147.3% in the first quarter. GAMMA Investing LLC now owns 5,922 shares of the company's stock valued at $40,000 after buying an additional 3,527 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Aurora Innovation by 463.3% in the second quarter. Farther Finance Advisors LLC now owns 7,616 shares of the company's stock valued at $40,000 after buying an additional 6,264 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new position in shares of Aurora Innovation in the third quarter valued at approximately $44,000. Finally, PNC Financial Services Group Inc. grew its holdings in Aurora Innovation by 37.2% in the first quarter. PNC Financial Services Group Inc. now owns 7,683 shares of the company's stock valued at $52,000 after purchasing an additional 2,085 shares during the period. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.