Aurora Innovation (NASDAQ:AUR) Stock Price Down 4.2% – Time to Sell?

Aurora Innovation, Inc. (NASDAQ:AUR)’s share price fell 4.2% during trading on Monday . The company traded as low as $6.09 and last traded at $6.0450. 5,693,459 shares were traded during mid-day trading, a decline of 77% from the average session volume of 24,634,869 shares. The stock had previously closed at $6.31.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on AUR shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aurora Innovation in a research report on Friday, July 17th. Cantor Fitzgerald restated an “overweight” rating on shares of Aurora Innovation in a research report on Monday. Wall Street Zen cut Aurora Innovation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 1st. Evercore reissued an “outperform” rating on shares of Aurora Innovation in a report on Tuesday, September 15th. Finally, Craig Hallum began coverage on Aurora Innovation in a research report on Friday, June 5th. They set a “buy” rating and a $18.00 price target for the company. Eight 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 company’s stock. According to MarketBeat.com, Aurora Innovation currently has an average rating of “Moderate Buy” and a consensus target price of $12.67.

Aurora Innovation Stock Up 3.2%

The stock has a market capitalization of $13.05 billion, a PE ratio of -13.84 and a beta of 2.63. The stock has a fifty day moving average of $6.31 and a 200-day moving average of $5.93.

Aurora Innovation (NASDAQ:AUR) last released its earnings results on Wednesday, July 29th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02). Aurora Innovation had a negative return on equity of 43.94% and a negative net margin of 18,000.00%.The firm had revenue of $2.00 million for the quarter, compared to analysts’ expectations of $1.66 million. During the same quarter in the previous year, the company posted ($0.11) earnings per share. The firm’s quarterly revenue was up 100.0% on a year-over-year basis. Equities research analysts expect that Aurora Innovation, Inc. will post -0.48 EPS for the current year.

Insider Buying and Selling

In other Aurora Innovation news, Director Michelangelo Volpi sold 2,842,682 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $7.00, for a total transaction of $19,898,774.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 6,390,753 shares of company stock worth $44,826,378. 8.52% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Aurora Innovation

A number of large investors have recently bought and sold shares of AUR. Bank of America Corp DE lifted its holdings in shares of Aurora Innovation by 130.0% in 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 buying an additional 16,975,927 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in Aurora Innovation by 6.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 274,809,541 shares of the company’s stock valued at $1,055,269,000 after acquiring an additional 16,933,373 shares during the period. Janus Henderson Group PLC grew its stake 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 period. SC US Ttgp LTD. purchased a new position in Aurora Innovation in the fourth quarter valued at about $33,830,000. Finally, Norges Bank purchased a new position in Aurora Innovation in the 4th quarter valued at approximately $32,055,000. Hedge funds and other institutional investors own 44.71% of the company’s stock.

Aurora Innovation Company Profile

Aurora Innovation, Inc develops autonomous vehicle technology designed to transport people and goods without human drivers. Its core product, the Aurora Driver, combines artificial intelligence, sensors, mapping, and other software and hardware systems to enable automated driving across trucking, ride-hailing, and logistics applications.

The company is initially focused on autonomous trucking, where its technology is intended to support long-haul freight operations and improve safety, efficiency, and vehicle utilization.