Aurora Innovation (NASDAQ:AUR) Trading Up 5.7% – Should You Buy?

Shares of Aurora Innovation, Inc. (NASDAQ:AUR) traded up 5.7% during trading on Thursday . The stock traded as high as $7.55 and last traded at $7.53. 8,589,804 shares traded hands during trading, a decline of 22% from the average session volume of 11,069,509 shares. The stock had previously closed at $7.12.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AUR. Oppenheimer assumed coverage on shares of Aurora Innovation in a report on Thursday. They issued an “outperform” rating and a $15.00 target price for the company. Morgan Stanley started coverage on Aurora Innovation in a research report on Monday, March 3rd. They issued an “overweight” rating and a $12.00 price objective on the stock. Evercore ISI lifted their target price on Aurora Innovation from $5.00 to $6.00 and gave the stock an “in-line” rating in a report on Tuesday, February 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price target on shares of Aurora Innovation in a report on Thursday, February 13th. Finally, Canaccord Genuity Group lifted their price objective on Aurora Innovation from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $9.07.

Aurora Innovation Trading Up 5.0 %

The firm has a market capitalization of $13.01 billion, a P/E ratio of -15.90 and a beta of 2.82. The stock has a 50 day simple moving average of $7.27 and a 200-day simple moving average of $6.55.

Aurora Innovation (NASDAQ:AUR) last released its earnings results on Wednesday, February 12th. The company reported ($0.11) earnings per share for the quarter. As a group, sell-side analysts expect that Aurora Innovation, Inc. will post -0.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AUR. Uber Technologies Inc purchased a new stake in shares of Aurora Innovation during the 4th quarter worth approximately $2,053,632,000. Toyota Motor Corp purchased a new stake in shares of Aurora Innovation in the fourth quarter valued at $298,294,000. Lightspeed Management Company L.L.C. bought a new stake in shares of Aurora Innovation in the 4th quarter worth about $74,003,000. FMR LLC boosted its stake in shares of Aurora Innovation by 206.1% during the 3rd quarter. FMR LLC now owns 13,848,530 shares of the company’s stock worth $81,983,000 after purchasing an additional 9,325,013 shares during the period. Finally, Norges Bank bought a new position in Aurora Innovation during the 4th quarter valued at about $45,772,000. 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.