Aurora Innovation (NASDAQ:AUR) Shares Down 3.7% – Here’s Why

Aurora Innovation, Inc. (NASDAQ:AUR) fell 3.7% on Tuesday . The company traded as low as $7.33 and last traded at $7.36. 757,918 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 11,045,260 shares. The stock had previously closed at $7.64.

Wall Street Analysts Forecast Growth

AUR has been the subject of several research analyst reports. Morgan Stanley started coverage on Aurora Innovation in a research report on Monday, March 3rd. They set an “overweight” rating and a $12.00 target price for the company. TD Cowen started coverage on shares of Aurora Innovation in a research report on Friday, March 7th. They set a “hold” rating and a $8.00 price objective on the stock. Wolfe Research began coverage on shares of Aurora Innovation in a report on Tuesday, November 26th. They issued a “peer perform” rating on the stock. Canaccord Genuity Group raised their target price on shares of Aurora Innovation from $7.00 to $10.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Finally, Evercore ISI boosted their price target on shares of Aurora Innovation from $5.00 to $6.00 and gave the stock an “in-line” rating in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $8.08.

Aurora Innovation Price Performance

The firm has a market cap of $13.16 billion, a P/E ratio of -16.08 and a beta of 2.82. The company’s 50-day simple moving average is $7.23 and its 200 day simple moving average is $6.52.

Aurora Innovation (NASDAQ:AUR) last posted its quarterly earnings data on Wednesday, February 12th. The company reported ($0.11) earnings per share (EPS) for the quarter. Analysts anticipate that Aurora Innovation, Inc. will post -0.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Uber Technologies Inc bought a new position in Aurora Innovation in the 4th quarter valued at $2,053,632,000. Toyota Motor Corp bought a new stake in Aurora Innovation during the 4th quarter valued at about $298,294,000. Lightspeed Management Company L.L.C. bought a new position in Aurora Innovation in the 4th quarter worth about $74,003,000. FMR LLC increased its position in shares of Aurora Innovation by 206.1% during the third quarter. FMR LLC now owns 13,848,530 shares of the company’s stock worth $81,983,000 after acquiring an additional 9,325,013 shares during the period. Finally, Norges Bank bought a new stake in shares of Aurora Innovation during the fourth quarter valued at approximately $45,772,000. Hedge funds and other institutional investors own 44.71% of the company’s stock.

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