Aurora Innovation, Inc. (NASDAQ:AUR) Stock Has Average Price Target of $12.56 According to Brokerages

Shares of Aurora Innovation, Inc. (NASDAQ:AUR) have been assigned an average recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $12.56.

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group reduced their price target on Aurora Innovation from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Thursday, October 29th. Morgan Stanley lifted their price target on shares of Aurora Innovation from $14.00 to $18.00 and gave the company an “overweight” rating in a research report on Friday, September 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Aurora Innovation in a research note on Thursday, October 15th. Oppenheimer boosted their price objective on shares of Aurora Innovation from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Thursday, October 8th. Finally, Wall Street Zen cut shares of Aurora Innovation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 1st.

Insider Activity

In other news, Director Michelangelo Volpi sold 2,842,682 shares of Aurora Innovation 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 8.52% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its position in Aurora Innovation by 130.0% in the 1st quarter. Bank of America Corp DE now owns 30,036,169 shares of the company’s stock valued at $123,749,000 after acquiring an additional 16,975,927 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Aurora Innovation by 2,068.8% during the 1st quarter. Janus Henderson Group PLC now owns 11,243,080 shares of the company’s stock valued at $46,319,000 after purchasing an additional 10,724,682 shares during the last quarter. Wellington Management Group LLP bought a new stake in shares of Aurora Innovation in the 2nd quarter worth $25,893,000. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Aurora Innovation by 2,860.0% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,700,000 shares of the company’s stock worth $20,498,000 after purchasing an additional 3,575,000 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Aurora Innovation by 9.3% in the third quarter. State Street Corp now owns 25,046,235 shares of the company’s stock worth $138,756,000 after purchasing an additional 2,123,506 shares during the last quarter. Institutional investors own 44.71% of the company’s stock.

Aurora Innovation Trading Down 3.2%

Shares of AUR stock traded down $0.14 during midday trading on Tuesday, reaching $4.21. 14,404,413 shares of the stock were exchanged, compared to its average volume of 26,417,530. Aurora Innovation has a 1 year low of $3.60 and a 1 year high of $8.56. The company’s 50 day moving average is $5.40 and its two-hundred day moving average is $5.60. The firm has a market cap of $8.51 billion, a PE ratio of -8.77 and a beta of 2.81.

Aurora Innovation (NASDAQ:AUR) last announced its earnings results on Wednesday, October 28th. The company reported ($0.12) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.12). The firm had revenue of $3.00 million during the quarter, compared to analyst estimates of $2.99 million. Aurora Innovation had a negative return on equity of 48.39% and a negative net margin of 13,328.57%. The company’s quarterly revenue was up 200.0% compared to the same quarter last year. As a group, equities analysts expect that Aurora Innovation will post -0.48 EPS for the current fiscal year.

Aurora Innovation Company Profile

Aurora Innovation, Inc. develops autonomous vehicle technology through its Aurora Driver platform, which combines self-driving software, sensors and computing hardware. The system is designed for use in commercial trucking and passenger mobility applications. Founded in 2017 by Chris Urmson, Sterling Anderson and Drew Bagnell, the company is headquartered in Pittsburgh, Pennsylvania. Aurora has focused on autonomous freight transportation in the United States, including development and testing of self-driving truck operations.