Aurora Innovation (NASDAQ:AUR) Earns Buy Rating from Canaccord Genuity Group

Canaccord Genuity Group reissued their buy rating on shares of Aurora Innovation (NASDAQ:AUR) in a report published on Monday, Benzinga reports. The firm currently has a $7.00 price target on the stock.

Aurora Innovation Trading Down 2.0 %

AUR stock opened at $5.44 on Monday. The stock has a market capitalization of $8.53 billion, a price-to-earnings ratio of -9.89 and a beta of 2.78. The firm’s 50-day moving average price is $4.37 and its two-hundred day moving average price is $3.41. Aurora Innovation has a 12-month low of $1.60 and a 12-month high of $6.79.

Aurora Innovation (NASDAQ:AUR) last announced its quarterly earnings results on Wednesday, July 31st. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.01.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Algert Global LLC boosted its stake in shares of Aurora Innovation by 72.9% during the 2nd quarter. Algert Global LLC now owns 265,921 shares of the company’s stock valued at $737,000 after purchasing an additional 112,131 shares in the last quarter. Scientech Research LLC purchased a new stake in Aurora Innovation in the second quarter worth about $439,000. The Manufacturers Life Insurance Company boosted its position in Aurora Innovation by 67.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 500,535 shares of the company’s stock valued at $1,386,000 after acquiring an additional 202,413 shares in the last quarter. Employees Retirement System of Texas grew its holdings in shares of Aurora Innovation by 581.2% during the 2nd quarter. Employees Retirement System of Texas now owns 262,442 shares of the company’s stock worth $727,000 after acquiring an additional 223,913 shares during the period. Finally, Xponance Inc. raised its position in shares of Aurora Innovation by 147.4% in the 2nd quarter. Xponance Inc. now owns 53,168 shares of the company’s stock worth $147,000 after acquiring an additional 31,678 shares in the last quarter. 44.71% of the stock is owned by hedge funds and other institutional investors.

Aurora Innovation Company Profile

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 vehicles. The company was founded in 2017 and is headquartered in Pittsburgh, Pennsylvania.