Aurora Innovation (NASDAQ:AUR) Price Target Raised to $17.00

Aurora Innovation (NASDAQ:AUR) had its price target hoisted by Canaccord Genuity Group from $15.00 to $17.00 in a research note published on Thursday, Marketbeat Ratings reports. They currently have a buy rating on the stock.

Several other equities analysts have also commented on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $12.00 price objective on shares of Aurora Innovation in a research report on Monday, September 21st. Northland Securities assumed coverage on Aurora Innovation in a research report on Friday, May 29th. They issued an “outperform” rating and a $11.00 target price for the company. Evercore reaffirmed an “outperform” rating on shares of Aurora Innovation in a research note on Tuesday, September 15th. Wall Street Zen cut shares of Aurora Innovation from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 1st. Finally, The Goldman Sachs Group lifted their price target on shares of Aurora Innovation from $6.00 to $7.00 and gave the stock a “neutral” rating in a research note on Thursday. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $13.11.

Aurora Innovation Stock Performance

Shares of NASDAQ:AUR opened at $6.04 on Thursday. The firm has a market capitalization of $12.11 billion, a PE ratio of -12.85 and a beta of 2.63. Aurora Innovation has a 52-week low of $3.60 and a 52-week high of $8.56. The firm has a fifty day moving average of $6.34 and a 200 day moving average of $5.98.

Aurora Innovation (NASDAQ:AUR) last released its quarterly earnings results on Wednesday, July 29th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02). Aurora Innovation had a negative net margin of 18,000.00% and a negative return on equity of 43.94%. The firm had revenue of $2.00 million for the quarter, compared to analysts’ expectations of $1.66 million. During the same quarter in the previous year, the business earned ($0.11) EPS. The company’s revenue for the quarter was up 100.0% on a year-over-year basis. On average, sell-side analysts forecast that Aurora Innovation will post -0.49 EPS for the current fiscal year.

Insider Transactions at Aurora Innovation

In other Aurora Innovation news, Director Michelangelo Volpi sold 2,842,682 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $7.00, for a total value of $19,898,774.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders have sold 6,390,753 shares of company stock valued at $44,826,378. 8.52% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AUR. Versant Capital Management Inc grew its position in shares of Aurora Innovation by 964.9% in the 2nd quarter. Versant Capital Management Inc now owns 8,019 shares of the company’s stock worth $55,000 after buying an additional 7,266 shares during the last quarter. GAMMA Investing LLC lifted its stake in Aurora Innovation by 79.7% in the second quarter. GAMMA Investing LLC now owns 8,501 shares of the company’s stock worth $58,000 after acquiring an additional 3,770 shares during the period. Eurizon Capital SGR S.p.A. bought a new stake in Aurora Innovation in the fourth quarter valued at $39,000. Triad Wealth Partners LLC purchased a new position in Aurora Innovation during the 1st quarter valued at $43,000. Finally, Capula Management Ltd purchased a new position in Aurora Innovation during the 1st quarter valued at $43,000. 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.