Aurora Innovation (NASDAQ:AUR) Trading Down 7.3% – What’s Next?

Aurora Innovation, Inc. (NASDAQ:AUR)’s stock price traded down 7.3% on Wednesday . The company traded as low as $6.67 and last traded at $6.70. 9,191,085 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 23,532,799 shares. The stock had previously closed at $7.23.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Morgan Stanley restated an “overweight” rating and set a $14.00 price objective on shares of Aurora Innovation in a research report on Thursday, May 7th. Cantor Fitzgerald reiterated an “overweight” rating and set a $12.00 price target on shares of Aurora Innovation in a research note on Thursday, July 23rd. TD Cowen increased their price target on shares of Aurora Innovation from $4.70 to $7.00 and gave the stock a “hold” rating in a report on Thursday, May 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Aurora Innovation in a research report on Friday, July 17th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Aurora Innovation in a report on Thursday, May 7th. Seven 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. Based on data from MarketBeat.com, Aurora Innovation has a consensus rating of “Hold” and an average price target of $12.22.

Aurora Innovation Stock Up 3.2%

The stock has a market cap of $13.72 billion, a PE ratio of -14.90 and a beta of 2.64. The business’s fifty day moving average is $6.43 and its 200 day moving average is $5.53.

Aurora Innovation (NASDAQ:AUR) last issued its earnings results on Wednesday, July 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02). Aurora Innovation had a negative net margin of 18,000.00% and a negative return on equity of 43.94%. The company had revenue of $2.00 million during the quarter, compared to analysts’ expectations of $1.66 million. During the same period last year, the business posted ($0.11) earnings per share. The company’s quarterly revenue was up 100.0% on a year-over-year basis. As a group, analysts predict that Aurora Innovation, Inc. will post -0.48 EPS for the current year.

Insider Activity at Aurora Innovation

In other news, Director David M. Wehner bought 82,500 shares of the stock in a transaction on Thursday, June 11th. The shares were bought at an average price of $6.04 per share, with a total value of $498,300.00. Following the completion of the acquisition, the director owned 246,519 shares of the company’s stock, valued at approximately $1,488,974.76. This trade represents a 50.30% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Reid Hoffman sold 5,498,487 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $7.81, for a total value of $42,943,183.47. Following the completion of the transaction, the director owned 77,500 shares of the company’s stock, valued at approximately $605,275. This represents a 98.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 7,048,487 shares of company stock valued at $54,295,119 over the last ninety days. 8.52% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Aurora Innovation

A number of large investors have recently added to or reduced their stakes in AUR. Garton & Associates Financial Advisors LLC acquired a new position in Aurora Innovation during the fourth quarter worth about $35,000. Danske Bank A S acquired a new stake in shares of Aurora Innovation in the third quarter valued at approximately $36,000. Eurizon Capital SGR S.p.A. purchased a new position in shares of Aurora Innovation during the 4th quarter worth approximately $39,000. Stonebridge Financial Group LLC MO purchased a new position in shares of Aurora Innovation during the 4th quarter worth approximately $40,000. Finally, Equitable Holdings Inc. acquired a new position in shares of Aurora Innovation during the 4th quarter worth approximately $41,000. 44.71% of the stock is owned by institutional investors and hedge funds.

Aurora Innovation Company Profile

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.