Aurora Innovation (NASDAQ:AUR) Shares Down 1.2% – Here’s Why

Shares of Aurora Innovation, Inc. (NASDAQ:AUR) traded down 1.2% during mid-day trading on Tuesday . The company traded as low as $6.13 and last traded at $6.21. 7,584,159 shares changed hands during mid-day trading, a decline of 42% from the average session volume of 13,115,235 shares. The stock had previously closed at $6.28.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AUR. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 price objective on shares of Aurora Innovation in a report on Thursday, February 13th. TD Cowen initiated coverage on Aurora Innovation in a research note on Friday, March 7th. They issued a “hold” rating and a $8.00 price target on the stock. The Goldman Sachs Group lifted their target price on shares of Aurora Innovation from $6.00 to $7.00 and gave the stock a “neutral” rating in a research report on Monday, May 12th. Evercore ISI lifted their price objective on shares of Aurora Innovation from $5.00 to $6.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 18th. Finally, Needham & Company LLC increased their price target on shares of Aurora Innovation from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Aurora Innovation presently has an average rating of “Moderate Buy” and an average price target of $10.75.

Aurora Innovation Stock Performance

The stock has a market cap of $11.01 billion, a P/E ratio of -13.49 and a beta of 2.76. The firm’s 50-day moving average is $6.79 and its two-hundred day moving average is $6.85.

Aurora Innovation (NASDAQ:AUR) last posted its earnings results on Thursday, May 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.01). As a group, research analysts forecast that Aurora Innovation, Inc. will post -0.49 EPS for the current year.

Institutional Trading of Aurora Innovation

Hedge funds have recently added to or reduced their stakes in the company. Twin Tree Management LP increased its position in Aurora Innovation by 217.2% during the 4th quarter. Twin Tree Management LP now owns 4,450 shares of the company’s stock worth $28,000 after purchasing an additional 3,047 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Aurora Innovation during the first quarter worth $32,000. Signaturefd LLC boosted its position in shares of Aurora Innovation by 208.0% during the first quarter. Signaturefd LLC now owns 5,283 shares of the company’s stock valued at $36,000 after buying an additional 3,568 shares during the last quarter. GAMMA Investing LLC grew its position in Aurora Innovation by 147.3% in the 1st quarter. GAMMA Investing LLC now owns 5,922 shares of the company’s stock worth $40,000 after purchasing an additional 3,527 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC boosted its holdings in shares of Aurora Innovation by 241.7% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 7,005 shares of the company’s stock worth $44,000 after buying an additional 4,955 shares during the last quarter. 44.71% of the stock is owned by institutional investors and hedge funds.

About Aurora Innovation

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.