Aurora Innovation’s (AUR) “Buy” Rating Reiterated at Needham & Company LLC

Aurora Innovation (NASDAQ:AUR)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a note issued to investors on Thursday, Benzinga reports. They currently have a $13.00 target price on the stock. Needham & Company LLC’s price objective points to a potential upside of 114.63% from the stock’s current price.

Several other research analysts have also commented on AUR. Morgan Stanley lifted their price target on Aurora Innovation from $14.00 to $18.00 and gave the stock an “overweight” rating in a research report on Friday, September 11th. Evercore restated an “outperform” rating on shares of Aurora Innovation in a research report on Tuesday, September 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aurora Innovation in a report on Friday, July 17th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $12.00 price target on shares of Aurora Innovation in a research report on Monday. Finally, Canaccord Genuity Group increased their price target on shares of Aurora Innovation from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $13.11.

Aurora Innovation Stock Down 0.0%

AUR traded down $0.00 on Thursday, reaching $6.06. The company had a trading volume of 23,954,367 shares, compared to its average volume of 25,122,576. Aurora Innovation has a 1 year low of $3.60 and a 1 year high of $8.56. The stock has a market capitalization of $12.14 billion, a PE ratio of -12.89 and a beta of 2.63. The stock has a 50-day moving average price of $6.34 and a 200-day moving average price of $5.98.

Aurora Innovation (NASDAQ:AUR) last issued its quarterly earnings data on Wednesday, July 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate 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 period in the previous year, the business posted ($0.11) EPS. The business’s revenue for the quarter was up 100.0% compared to the same quarter last year. As a group, analysts expect that Aurora Innovation will post -0.48 earnings per share for the current fiscal year.

Insider Transactions at Aurora Innovation

In other Aurora Innovation news, Director Michelangelo Volpi sold 2,842,682 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $7.00, for a total value of $19,898,774.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last 90 days, insiders have sold 6,390,753 shares of company stock valued at $44,826,378. Insiders own 8.52% of the company’s stock.

Institutional Trading of Aurora Innovation

Hedge funds and other institutional investors have recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. increased its stake 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 period. Bank of America Corp DE increased its position in 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 purchasing an additional 16,975,927 shares during the period. State Street Corp raised its stake in shares of Aurora Innovation by 6.0% during the 2nd quarter. State Street Corp now owns 22,922,729 shares of the company’s stock worth $156,333,000 after buying an additional 1,293,487 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Aurora Innovation by 7.5% in the 4th quarter. Geode Capital Management LLC now owns 21,488,433 shares of the company’s stock valued at $82,535,000 after buying an additional 1,498,515 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Aurora Innovation by 4.3% in the first quarter. Dimensional Fund Advisors LP now owns 11,807,009 shares of the company’s stock valued at $48,621,000 after buying an additional 490,659 shares in the last quarter. 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.