Aurora Innovation (NASDAQ:AUR) Now Covered by Craig Hallum

Craig Hallum initiated coverage on shares of Aurora Innovation (NASDAQ:AUR) in a research note issued to investors on Friday, MarketBeat.com reports. The brokerage set a “buy” rating and a $18.00 price target on the stock. Craig Hallum’s price objective suggests a potential upside of 163.16% from the stock’s current price.

Several other brokerages have also weighed in on AUR. Wall Street Zen lowered shares of Aurora Innovation from a “hold” rating to a “sell” rating in a research report on Sunday, April 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Aurora Innovation in a research report on Monday, April 20th. Cantor Fitzgerald reissued an “overweight” rating on shares of Aurora Innovation in a research report on Monday, February 9th. TD Cowen boosted their target price on shares of Aurora Innovation from $4.70 to $7.00 and gave the stock a “hold” rating in a research report on Thursday, May 7th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $13.00 target price on shares of Aurora Innovation in a research report on Thursday, May 7th. Seven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $12.25.

Aurora Innovation Price Performance

AUR opened at $6.84 on Friday. Aurora Innovation has a 12-month low of $3.60 and a 12-month high of $8.56. The firm’s fifty day moving average price is $5.83 and its 200 day moving average price is $4.86. The stock has a market capitalization of $13.41 billion, a PE ratio of -15.55 and a beta of 2.62.

Aurora Innovation (NASDAQ:AUR) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.01. The business had revenue of $1.00 million during the quarter, compared to analyst estimates of $0.97 million. Aurora Innovation had a negative net margin of 20,775.00% and a negative return on equity of 40.45%. The company’s quarterly revenue was down 66.7% compared to the same quarter last year. On average, equities research analysts forecast that Aurora Innovation will post -0.47 earnings per share for the current fiscal year.

Insider Activity at Aurora Innovation

In other news, Director Reid Hoffman sold 1,202,354 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $7.27, for a total value of $8,741,113.58. The sale was disclosed in a filing with the SEC, which is available at this link. In the last 90 days, insiders have sold 7,048,487 shares of company stock valued at $54,295,119. 8.52% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Garton & Associates Financial Advisors LLC acquired a new position in Aurora Innovation during the 4th quarter valued at about $35,000. Danske Bank A S acquired a new stake in shares of Aurora Innovation in the 3rd quarter valued at approximately $36,000. Eurizon Capital SGR S.p.A. bought a new position in Aurora Innovation in the fourth quarter valued at approximately $39,000. Stonebridge Financial Group LLC MO bought a new position in Aurora Innovation in the fourth quarter valued at approximately $40,000. Finally, Equitable Holdings Inc. bought a new position in Aurora Innovation in the fourth quarter valued at approximately $41,000. Institutional investors and hedge funds own 44.71% of the company’s stock.

About Aurora Innovation

Aurora Innovation, Inc is a technology company specializing in the development of self-driving vehicle systems for both passenger and commercial applications. Headquartered in Mountain View, California, Aurora has built an end-to-end platform—known as the Aurora Driver—that integrates proprietary software, machine learning algorithms and a suite of sensors (LiDAR, radar and cameras) to enable vehicles to operate safely and efficiently in diverse driving environments.

The company’s core business revolves around designing, testing and deploying its autonomy stack on vehicles from established automotive and transportation partners.