Aurora Innovation (NASDAQ:AUR) Stock Price Up 7.1% – What’s Next?

Shares of Aurora Innovation, Inc. (NASDAQ:AUR) shot up 7.1% during mid-day trading on Tuesday . The company traded as high as $4.18 and last traded at $4.2750. 1,636,579 shares changed hands during trading, a decline of 91% from the average session volume of 18,173,189 shares. The stock had previously closed at $3.99.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. TD Cowen lowered their price target on Aurora Innovation from $7.40 to $5.50 and set a “hold” rating on the stock in a report on Thursday, October 30th. Canaccord Genuity Group reissued a “buy” rating and issued a $15.00 target price on shares of Aurora Innovation in a report on Wednesday, October 29th. Cowen reaffirmed a “hold” rating on shares of Aurora Innovation in a research note on Thursday, October 30th. The Goldman Sachs Group decreased their price objective on shares of Aurora Innovation from $6.00 to $4.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 26th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Aurora Innovation in a research note on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $10.06.

Aurora Innovation Stock Up 1.7%

The firm has a market cap of $9.04 billion, a price-to-earnings ratio of -10.38 and a beta of 2.47. The firm has a fifty day moving average price of $4.21 and a 200-day moving average price of $5.17.

Aurora Innovation (NASDAQ:AUR) last released its earnings results on Tuesday, October 28th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.01. The business had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $1.23 million. During the same quarter last year, the company posted ($0.13) earnings per share. Equities research analysts anticipate that Aurora Innovation, Inc. will post -0.49 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Christopher Urmson bought 258,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were acquired at an average cost of $3.88 per share, with a total value of $1,001,040.00. Following the completion of the transaction, the chief executive officer owned 258,000 shares of the company’s stock, valued at approximately $1,001,040. The trade was a ? increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 11.85% of the company’s stock.

Institutional Investors Weigh In On Aurora Innovation

A number of institutional investors have recently added to or reduced their stakes in AUR. Vanguard Group Inc. raised its holdings in shares of Aurora Innovation by 3.4% in the 3rd quarter. Vanguard Group Inc. now owns 142,749,144 shares of the company’s stock worth $769,418,000 after purchasing an additional 4,740,588 shares during the period. Capital Research Global Investors raised its holdings in Aurora Innovation by 35.9% in the third quarter. Capital Research Global Investors now owns 71,298,585 shares of the company’s stock valued at $384,299,000 after buying an additional 18,820,542 shares during the period. Durable Capital Partners LP raised its holdings in Aurora Innovation by 36.7% in the second quarter. Durable Capital Partners LP now owns 20,404,238 shares of the company’s stock valued at $106,918,000 after buying an additional 5,481,969 shares during the period. Norges Bank purchased a new position in Aurora Innovation in the second quarter valued at approximately $42,421,000. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in Aurora Innovation by 17.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,264,577 shares of the company’s stock worth $39,156,000 after buying an additional 1,094,021 shares during the period. Hedge funds and other institutional investors own 44.71% of the company’s stock.

Aurora Innovation Company Profile

Aurora Innovation, Inc is a technology company specializing in the development of self-driving vehicle systems for both passenger and commercial applications. Headquartered in Mountain View, California, Aurora has built an end-to-end platform—known as the Aurora Driver—that integrates proprietary software, machine learning algorithms and a suite of sensors (LiDAR, radar and cameras) to enable vehicles to operate safely and efficiently in diverse driving environments.

The company’s core business revolves around designing, testing and deploying its autonomy stack on vehicles from established automotive and transportation partners.