Aurora Innovation (NASDAQ:AUR) Trading Up 2.7% – Here’s What Happened

Aurora Innovation, Inc. (NASDAQ:AUR) shares shot up 2.7% during mid-day trading on Monday . The stock traded as high as $5.68 and last traded at $5.61. 4,204,075 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 13,765,727 shares. The stock had previously closed at $5.46.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AUR. Needham & Company LLC lifted their price target on shares of Aurora Innovation from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, May 9th. TD Cowen began coverage on shares of Aurora Innovation in a research note on Friday, March 7th. They issued a “hold” rating and a $8.00 target price for the company. Evercore ISI lifted their price target on Aurora Innovation from $5.00 to $6.00 and gave the company an “in-line” rating in a research note on Tuesday, February 18th. Morgan Stanley began coverage on Aurora Innovation in a research report on Monday, March 3rd. They set an “overweight” rating and a $12.00 price objective for the company. Finally, The Goldman Sachs Group raised their price target on shares of Aurora Innovation from $6.00 to $7.00 and gave the stock a “neutral” rating in a research note on Monday, May 12th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $10.75.

Aurora Innovation Trading Up 1.2%

The stock has a market cap of $9.77 billion, a P/E ratio of -11.78 and a beta of 2.59. The stock has a 50 day simple moving average of $6.45 and a 200 day simple moving average of $6.87.

Aurora Innovation (NASDAQ:AUR) last issued its quarterly earnings results 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). Equities analysts anticipate that Aurora Innovation, Inc. will post -0.49 earnings per share for the current year.

Insider Transactions at Aurora Innovation

In other news, Director Gloria R. Boyland sold 46,097 shares of Aurora Innovation stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $5.92, for a total value of $272,894.24. Following the completion of the transaction, the director now owns 330,425 shares in the company, valued at $1,956,116. This trade represents a 12.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 11.85% of the company’s stock.

Institutional Investors Weigh In On Aurora Innovation

Hedge funds have recently bought and sold shares of the stock. CoreCap Advisors LLC grew its stake in shares of Aurora Innovation by 15.0% during the 4th quarter. CoreCap Advisors LLC now owns 13,177 shares of the company’s stock valued at $83,000 after purchasing an additional 1,717 shares during the period. CIBC Asset Management Inc lifted its holdings in Aurora Innovation by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 35,587 shares of the company’s stock valued at $224,000 after buying an additional 1,723 shares in the last quarter. United Bank lifted its holdings in shares of Aurora Innovation by 17.0% in the 1st quarter. United Bank now owns 13,064 shares of the company’s stock worth $88,000 after buying an additional 1,900 shares during the period. Principal Financial Group Inc. lifted its position in shares of Aurora Innovation by 3.0% in the 1st quarter. Principal Financial Group Inc. now owns 70,652 shares of the company’s stock worth $475,000 after purchasing an additional 2,061 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in Aurora Innovation by 37.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,683 shares of the company’s stock valued at $52,000 after acquiring an additional 2,085 shares in the last quarter. 44.71% of the stock is currently owned by institutional investors.

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.