Aurora Innovation (NASDAQ:AUR) Shares Down 7% – Time to Sell?

Aurora Innovation, Inc. (NASDAQ:AUR) shares traded down 7% during trading on Tuesday . The stock traded as low as $6.82 and last traded at $6.9040. 8,416,378 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 21,001,963 shares. The stock had previously closed at $7.42.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on AUR shares. The Goldman Sachs Group lifted their price target on shares of Aurora Innovation from $4.00 to $5.00 and gave the company a “neutral” rating in a research note on Friday, April 17th. Wall Street Zen lowered shares of Aurora Innovation from a “hold” rating to a “sell” rating in a research note on Sunday, April 26th. Morgan Stanley reiterated an “overweight” rating and issued a $14.00 price target on shares of Aurora Innovation in a research note on Thursday, May 7th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Aurora Innovation in a research note on Monday, February 9th. Finally, TD Cowen lifted their price target on shares of Aurora Innovation from $4.70 to $7.00 and gave the company a “hold” rating in a research note on Thursday, May 7th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Aurora Innovation has a consensus rating of “Hold” and a consensus target price of $11.50.

Aurora Innovation Trading Down 4.5%

The company has a market capitalization of $13.90 billion, a price-to-earnings ratio of -16.08 and a beta of 2.58. The firm’s 50 day moving average price is $5.09 and its two-hundred day moving average price is $4.62.

Aurora Innovation (NASDAQ:AUR) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.01. The company had revenue of $1.00 million for the quarter, compared to analyst estimates of $0.97 million. Aurora Innovation had a negative net margin of 20,775.00% and a negative return on equity of 40.45%. The firm’s quarterly revenue was down 66.7% compared to the same quarter last year. As a group, equities research analysts predict that Aurora Innovation, Inc. will post -0.46 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. T. Rowe Price Investment Management Inc. increased its stake 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. Vanguard Group Inc. increased its stake 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 worth $616,579,000 after purchasing an additional 17,818,179 shares during the last quarter. Capital Research Global Investors boosted its holdings 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 worth $384,299,000 after buying an additional 18,820,542 shares during the period. Bank of America Corp DE boosted its holdings 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 worth $123,749,000 after buying an additional 16,975,927 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of 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 buying an additional 1,498,515 shares during the period. 44.71% of the stock is currently owned by institutional investors and hedge funds.

Aurora Innovation Company Profile

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.