Aurora Innovation (NASDAQ:AUR) Shares Down 10.1%

Shares of Aurora Innovation, Inc. (NASDAQ:AUR) dropped 10.1% on Tuesday . The stock traded as low as $3.18 and last traded at $3.19. Approximately 1,325,733 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 4,882,295 shares. The stock had previously closed at $3.55.

Analyst Ratings Changes

AUR has been the topic of several research analyst reports. Canaccord Genuity Group boosted their price objective on Aurora Innovation from $5.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday, July 20th. Evercore ISI initiated coverage on Aurora Innovation in a research report on Tuesday, September 12th. They issued an “inline” rating and a $4.00 price objective on the stock. TD Cowen initiated coverage on Aurora Innovation in a research report on Tuesday. They issued a “market perform” rating and a $3.00 price objective on the stock. Finally, The Goldman Sachs Group boosted their price objective on Aurora Innovation from $1.25 to $3.00 and gave the stock a “neutral” rating in a research report on Friday, August 4th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $5.00.

Aurora Innovation Trading Down 16.3 %

The business has a 50-day moving average price of $3.21 and a 200 day moving average price of $2.21. The stock has a market cap of $4.41 billion, a PE ratio of -4.14 and a beta of 2.52.

Aurora Innovation (NASDAQ:AUR) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported ($0.18) earnings per share (EPS) for the quarter. Aurora Innovation had a negative return on equity of 45.90% and a negative net margin of 2,546.55%.

Insider Buying and Selling

In related news, Director Sterling Anderson sold 9,600 shares of the stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $3.53, for a total transaction of $33,888.00. Following the sale, the director now owns 61,933 shares of the company’s stock, valued at approximately $218,623.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have sold 3,471,049 shares of company stock valued at $10,445,608. Corporate insiders own 17.70% of the company’s stock.

Hedge Funds Weigh In On Aurora Innovation

A number of institutional investors have recently added to or reduced their stakes in AUR. Bank of New York Mellon Corp increased its stake in Aurora Innovation by 104.5% in the 1st quarter. Bank of New York Mellon Corp now owns 250,251 shares of the company’s stock worth $1,399,000 after acquiring an additional 127,900 shares during the last quarter. HighTower Advisors LLC bought a new position in Aurora Innovation in the 1st quarter worth about $543,000. PNC Financial Services Group Inc. increased its stake in Aurora Innovation by 100.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 40,000 shares of the company’s stock worth $224,000 after acquiring an additional 20,000 shares during the last quarter. Rhumbline Advisers bought a new position in shares of Aurora Innovation during the 1st quarter valued at about $121,000. Finally, BlackRock Inc. increased its position in shares of Aurora Innovation by 2.5% during the 1st quarter. BlackRock Inc. now owns 3,630,346 shares of the company’s stock valued at $20,293,000 after purchasing an additional 89,330 shares during the last quarter. 42.34% of the stock is currently owned by institutional investors.

About Aurora Innovation

Aurora Innovation, Inc operates as a self-driving technology company in the United States. It focuses on developing Aurora Driver, a platform that brings a suite of self-driving hardware, software, and data services together to adapt and interoperate passenger vehicles, light commercial vehicles, and trucks.