Aurora Innovation (NASDAQ:AUR) Stock Gets Downgrade from Zacks Research

Aurora Innovation (NASDAQ:AUR) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday, Zacks reports.

Several other equities research analysts have also recently issued reports on the company. Needham & Company LLC restated a “buy” rating and set a $13.00 price objective on shares of Aurora Innovation in a report on Thursday, September 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aurora Innovation in a research note on Friday, July 17th. Wall Street Zen downgraded Aurora Innovation from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 1st. Evercore reissued an “outperform” rating on shares of Aurora Innovation in a research note on Tuesday, September 15th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $12.00 price target on shares of Aurora Innovation in a report on Monday, September 21st. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $13.22.

Aurora Innovation Stock Performance

Shares of NASDAQ AUR opened at $5.34 on Monday. Aurora Innovation has a 1 year low of $3.60 and a 1 year high of $8.56. The firm’s 50 day moving average price is $6.16 and its 200 day moving average price is $6.11.

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

Insider Buying and Selling

In other Aurora Innovation news, Director Michelangelo Volpi sold 2,842,682 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $7.00, for a total transaction of $19,898,774.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders have sold a total of 6,390,753 shares of company stock worth $44,826,378 over the last ninety days. Corporate insiders own 8.52% of the company’s stock.

Institutional Trading of Aurora Innovation

Several institutional investors have recently made changes to their positions in AUR. Ascent Wealth Partners LLC boosted its position in Aurora Innovation by 9.6% in the 1st quarter. Ascent Wealth Partners LLC now owns 15,820 shares of the company’s stock valued at $65,000 after buying an additional 1,389 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Aurora Innovation by 0.5% during the second quarter. Arizona State Retirement System now owns 330,647 shares of the company’s stock valued at $2,255,000 after acquiring an additional 1,738 shares in the last quarter. Concurrent Investment Advisors LLC increased its position in shares of Aurora Innovation by 16.2% during the second quarter. Concurrent Investment Advisors LLC now owns 13,212 shares of the company’s stock worth $90,000 after acquiring an additional 1,839 shares during the last quarter. QRG Capital Management Inc. increased its position in shares of Aurora Innovation by 13.9% during the second quarter. QRG Capital Management Inc. now owns 15,528 shares of the company’s stock worth $106,000 after acquiring an additional 1,891 shares during the last quarter. Finally, Gabelli Funds LLC increased its position in shares of Aurora Innovation by 15.4% during the first quarter. Gabelli Funds LLC now owns 15,000 shares of the company’s stock worth $62,000 after acquiring an additional 2,000 shares during the last quarter. 44.71% of the stock is owned by hedge funds and other institutional investors.

About Aurora Innovation

Aurora Innovation, Inc develops autonomous driving technology for commercial and passenger vehicles. Its primary product is the Aurora Driver, an autonomous driving system designed to combine hardware, software and artificial intelligence to enable vehicles to operate without a human driver. The company focuses on applications including long-haul trucking, delivery and logistics, and autonomous ride-hailing.

Aurora works with automotive manufacturers, trucking companies, logistics providers and transportation platforms to integrate its technology into production vehicles and commercial fleets.