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

Aurora Innovation (NASDAQ:AUR)‘s stock had its “buy” rating reiterated by research analysts at Needham & Company LLC in a note issued to investors on Thursday, Benzinga reports. They currently have a $13.00 price objective on the stock. Needham & Company LLC’s price objective indicates a potential upside of 134.66% from the company’s previous close.

A number of other equities research analysts have also weighed in on AUR. Evercore reaffirmed an “outperform” rating on shares of Aurora Innovation in a report on Tuesday, September 15th. The Goldman Sachs Group raised their price target on Aurora Innovation from $6.00 to $7.00 and gave the company a “neutral” rating in a report on Thursday, September 24th. Craig Hallum assumed coverage on Aurora Innovation in a research note on Friday, June 5th. They issued a “buy” rating and a $18.00 price target on the stock. Morgan Stanley upped their price objective on Aurora Innovation from $14.00 to $18.00 and gave the stock an “overweight” rating in a report on Friday, September 11th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $12.00 price objective on shares of Aurora Innovation in a research report on Monday, September 21st. Eight 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.11.

Aurora Innovation Stock Performance

Aurora Innovation stock traded up $0.15 during trading hours on Thursday, reaching $5.54. 37,917,638 shares of the stock were exchanged, compared to its average volume of 25,404,506. The stock has a market cap of $11.10 billion, a P/E ratio of -11.79 and a beta of 2.63. Aurora Innovation has a 52-week low of $3.60 and a 52-week high of $8.56. The firm’s 50 day moving average is $6.30 and its 200 day moving average is $6.00.

Aurora Innovation (NASDAQ:AUR) last issued its earnings results on Wednesday, July 29th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.02). Aurora Innovation had a negative net margin of 18,000.00% and a negative return on equity of 43.94%. The firm had revenue of $2.00 million during the quarter, compared to analysts’ expectations of $1.66 million. During the same period in the previous year, the firm earned ($0.11) EPS. The firm’s revenue was up 100.0% on a year-over-year basis. Equities research analysts expect that Aurora Innovation will post -0.49 EPS for the current fiscal year.

Insider Buying and Selling at Aurora Innovation

In related news, Director Michelangelo Volpi sold 2,842,682 shares of Aurora Innovation 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have sold 6,390,753 shares of company stock worth $44,826,378. Company insiders own 8.52% of the company’s stock.

Hedge Funds Weigh In On Aurora Innovation

Hedge funds have recently bought and sold shares of the stock. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Aurora Innovation during the 4th quarter worth about $39,000. Triad Wealth Partners LLC acquired a new position in Aurora Innovation during the first quarter valued at approximately $43,000. Capula Management Ltd purchased a new stake in Aurora Innovation during the first quarter worth approximately $43,000. Navigation Group LLC purchased a new stake in Aurora Innovation during the first quarter worth approximately $48,000. Finally, Frank Rimerman Advisors LLC acquired a new stake in shares of Aurora Innovation in the first quarter worth $50,000. Hedge funds and other institutional investors own 44.71% of the company’s stock.

Aurora Innovation Company Profile

Aurora Innovation, Inc develops autonomous driving technology for commercial and passenger vehicles. Its primary product is the Aurora Driver, an autonomous driving system designed to combine hardware, software and artificial intelligence to enable vehicles to operate without a human driver. The company focuses on applications including long-haul trucking, delivery and logistics, and autonomous ride-hailing.

Aurora works with automotive manufacturers, trucking companies, logistics providers and transportation platforms to integrate its technology into production vehicles and commercial fleets.