Aurora Innovation (NASDAQ:AUR) Trading Down 10% – What’s Next?

Aurora Innovation, Inc. (NASDAQ:AUR) fell 10% during mid-day trading on Wednesday . The company traded as low as $6.90 and last traded at $6.95. 5,467,714 shares were traded during trading, a decline of 75% from the average session volume of 21,709,789 shares. The stock had previously closed at $7.72.

Analysts Set New Price Targets

A number of research firms recently issued reports on AUR. Wall Street Zen lowered Aurora Innovation from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. The Goldman Sachs Group raised their price target on Aurora Innovation from $4.00 to $5.00 and gave the stock a “neutral” rating in a report on Friday, April 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Aurora Innovation in a report on Monday, April 20th. TD Cowen raised their price target on Aurora Innovation from $4.70 to $7.00 and gave the stock a “hold” rating in a report on Thursday, May 7th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Aurora Innovation in a report on Thursday, May 7th. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Aurora Innovation currently has an average rating of “Hold” and an average price target of $11.43.

Aurora Innovation Trading Down 1.6%

The stock has a fifty day simple moving average of $5.83 and a two-hundred day simple moving average of $4.86. The company has a market cap of $13.41 billion, a PE ratio of -15.55 and a beta of 2.62.

Aurora Innovation (NASDAQ:AUR) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.01. Aurora Innovation had a negative return on equity of 40.45% and a negative net margin of 20,775.00%.The company had revenue of $1.00 million for the quarter, compared to analyst estimates of $0.97 million. The business’s quarterly revenue was down 66.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Aurora Innovation, Inc. will post -0.47 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Reid Hoffman sold 1,202,354 shares of Aurora Innovation stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $7.27, for a total transaction of $8,741,113.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders sold 7,048,487 shares of company stock valued at $54,295,119. 8.52% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Aurora Innovation

A number of hedge funds and other institutional investors have recently modified their holdings of AUR. Capital Research Global Investors lifted its position in shares of Aurora Innovation by 35.9% during the 3rd quarter. Capital Research Global Investors now owns 71,298,585 shares of the company’s stock valued at $384,299,000 after acquiring an additional 18,820,542 shares during the period. Vanguard Group Inc. lifted its position in shares of Aurora Innovation by 12.5% during the 4th quarter. Vanguard Group Inc. now owns 160,567,323 shares of the company’s stock valued at $616,579,000 after acquiring an additional 17,818,179 shares during the period. Bank of America Corp DE lifted its position in shares of Aurora Innovation by 130.0% during 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 during the period. T. Rowe Price Investment Management Inc. raised its position in shares of Aurora Innovation by 6.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 274,809,541 shares of the company’s stock worth $1,055,269,000 after purchasing an additional 16,933,373 shares during the last quarter. Finally, Janus Henderson Group PLC raised its position in shares of 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 worth $46,319,000 after purchasing an additional 10,724,682 shares during the last quarter. 44.71% of the stock is currently owned by institutional investors and hedge funds.

About Aurora Innovation

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.