Aurora Innovation (NASDAQ:AUR) Shares Up 4.3% – Should You Buy?

Aurora Innovation, Inc. (NASDAQ:AUR)’s stock price was up 4.3% during mid-day trading on Friday . The company traded as high as $5.97 and last traded at $5.90. Approximately 3,416,988 shares changed hands during trading, a decline of 75% from the average daily volume of 13,569,246 shares. The stock had previously closed at $5.65.

Analysts Set New Price Targets

Several brokerages have weighed in on AUR. Needham & Company LLC increased their target price on Aurora Innovation from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Canaccord Genuity Group increased their price objective on shares of Aurora Innovation from $10.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Morgan Stanley initiated coverage on shares of Aurora Innovation in a research note on Monday, March 3rd. They set an “overweight” rating and a $12.00 target price for the company. Evercore ISI upped their target price 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, Oppenheimer assumed coverage on Aurora Innovation in a report on Thursday, March 27th. They set an “outperform” rating and a $15.00 price target on the stock. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.75.

Aurora Innovation Trading Up 3.9%

The stock has a market cap of $10.38 billion, a P/E ratio of -12.49 and a beta of 2.59. The stock’s 50-day moving average is $6.48 and its 200-day moving average is $6.88.

Aurora Innovation (NASDAQ:AUR) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.01). On average, equities analysts forecast that Aurora Innovation, Inc. will post -0.49 EPS for the current year.

Hedge Funds Weigh In On Aurora Innovation

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Twin Tree Management LP lifted its holdings in shares of Aurora Innovation by 217.2% in the fourth quarter. Twin Tree Management LP now owns 4,450 shares of the company’s stock valued at $28,000 after buying an additional 3,047 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Aurora Innovation in the 1st quarter valued at about $32,000. Signaturefd LLC boosted its position in shares of Aurora Innovation by 208.0% during the 1st quarter. Signaturefd LLC now owns 5,283 shares of the company’s stock valued at $36,000 after purchasing an additional 3,568 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of 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 during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of Aurora Innovation by 37.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,683 shares of the company’s stock worth $52,000 after purchasing an additional 2,085 shares during the last quarter. 44.71% of the stock is owned by institutional investors.

Aurora Innovation Company Profile

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.