Aurora Innovation (NASDAQ:AUR) Trading 8% Higher – Still a Buy?

Aurora Innovation, Inc. (NASDAQ:AUR) shares traded up 8% during mid-day trading on Wednesday . The stock traded as high as $5.06 and last traded at $5.0450. 11,118,505 shares changed hands during trading, a decline of 38% from the average session volume of 17,797,830 shares. The stock had previously closed at $4.67.

Analyst Ratings Changes

AUR has been the subject of a number of research reports. TD Cowen reduced their price objective on Aurora Innovation from $5.50 to $4.70 and set a “hold” rating for the company in a research report on Friday, February 13th. Cantor Fitzgerald restated an “overweight” rating on shares of Aurora Innovation in a research note on Monday, February 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aurora Innovation in a research note on Wednesday, January 21st. Needham & Company LLC restated a “buy” rating and issued a $13.00 price objective on shares of Aurora Innovation in a research note on Thursday, February 12th. Finally, The Goldman Sachs Group raised their price objective on shares of Aurora Innovation from $4.00 to $5.00 and gave the stock a “neutral” rating in a report on Friday. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $10.54.

Aurora Innovation Stock Down 2.5%

The business has a 50-day simple moving average of $4.41 and a two-hundred day simple moving average of $4.50. The stock has a market capitalization of $10.08 billion, a P/E ratio of -11.49 and a beta of 2.44.

Aurora Innovation (NASDAQ:AUR) last released its quarterly earnings results on Wednesday, February 11th. The company reported ($0.12) EPS for the quarter, meeting analysts’ consensus estimates of ($0.12). The firm had revenue of $1.00 million during the quarter, compared to analyst estimates of $1.47 million. On average, sell-side analysts forecast that Aurora Innovation, Inc. will post -0.49 earnings per share for the current year.

Institutional Trading of Aurora Innovation

Several hedge funds have recently modified their holdings of AUR. T. Rowe Price Investment Management Inc. raised its position in shares of Aurora Innovation by 6.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 274,809,541 shares of the company’s stock worth $1,055,269,000 after acquiring an additional 16,933,373 shares during the last quarter. Vanguard Group Inc. increased its position in Aurora Innovation by 12.5% in the fourth quarter. Vanguard Group Inc. now owns 160,567,323 shares of the company’s stock worth $616,579,000 after purchasing an additional 17,818,179 shares during the period. Capital Research Global Investors increased its position in Aurora Innovation by 35.9% in the third quarter. Capital Research Global Investors now owns 71,298,585 shares of the company’s stock worth $384,299,000 after purchasing an additional 18,820,542 shares during the period. Geode Capital Management LLC raised its holdings in Aurora Innovation by 7.5% during the 4th quarter. Geode Capital Management LLC now owns 21,488,433 shares of the company’s stock worth $82,535,000 after purchasing an additional 1,498,515 shares during the last quarter. Finally, State Street Corp lifted its position in Aurora Innovation by 8.1% during the 4th quarter. State Street Corp now owns 20,544,319 shares of the company’s stock valued at $78,890,000 after purchasing an additional 1,533,171 shares during the period. 44.71% of the stock is owned by institutional investors.

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.