Aurora Innovation, Inc. (NASDAQ:AUR) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Aurora Innovation, Inc. (NASDAQ:AUR) have been given a consensus rating of “Moderate Buy” by the twelve research firms that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $13.11.

A number of analysts have recently issued reports on the stock. Craig Hallum initiated coverage on shares of Aurora Innovation in a research note on Friday, June 5th. They set a “buy” rating and a $18.00 target price for the company. The Goldman Sachs Group upped their price target on shares of Aurora Innovation from $6.00 to $7.00 and gave the company a “neutral” rating in a research note on Thursday. Wall Street Zen cut shares of Aurora Innovation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 1st. Morgan Stanley boosted their price objective on Aurora Innovation from $14.00 to $18.00 and gave the stock an “overweight” rating in a report on Friday, September 11th. Finally, Canaccord Genuity Group upped their target price on Aurora Innovation from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday.

Aurora Innovation Stock Performance

AUR stock opened at $6.04 on Monday. Aurora Innovation has a 1-year low of $3.60 and a 1-year high of $8.56. The business’s 50 day simple moving average is $6.34 and its 200 day simple moving average is $5.99. The firm has a market capitalization of $12.11 billion, a PE ratio of -12.85 and a beta of 2.63.

Aurora Innovation (NASDAQ:AUR) last announced its quarterly earnings results on Wednesday, July 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $2.00 million for the quarter, compared to analyst estimates of $1.66 million. During the same period in the prior year, the business earned ($0.11) EPS. The company’s revenue for the quarter was up 100.0% compared to the same quarter last year. As a group, sell-side analysts predict that Aurora Innovation will post -0.49 EPS for the current fiscal year.

Insider Buying and Selling at Aurora Innovation

In other news, Director Michelangelo Volpi sold 2,842,682 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $7.00, for a total value of $19,898,774.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 6,390,753 shares of company stock worth $44,826,378 over the last three months. 8.52% of the stock is currently owned by company insiders.

Institutional Trading of Aurora Innovation

Hedge funds and other institutional investors have recently bought and sold shares of the business. QRG Capital Management Inc. boosted its holdings in Aurora Innovation by 13.9% in the 2nd quarter. QRG Capital Management Inc. now owns 15,528 shares of the company’s stock valued at $106,000 after purchasing an additional 1,891 shares during the period. State Street Corp increased its holdings in shares of Aurora Innovation by 6.0% during the second quarter. State Street Corp now owns 22,922,729 shares of the company’s stock worth $156,333,000 after purchasing an additional 1,293,487 shares during the period. Tidal Investments LLC increased its holdings in shares of Aurora Innovation by 32.5% during the second quarter. Tidal Investments LLC now owns 16,505 shares of the company’s stock worth $113,000 after purchasing an additional 4,048 shares during the period. BlueCrest Capital Management Ltd acquired a new stake in shares of Aurora Innovation in the second quarter valued at approximately $490,000. Finally, Integrated Wealth Concepts LLC raised its position in shares of Aurora Innovation by 30.4% in the second quarter. Integrated Wealth Concepts LLC now owns 15,039 shares of the company’s stock valued at $103,000 after buying an additional 3,504 shares in the last quarter. Institutional investors and hedge funds own 44.71% of the company’s stock.

About Aurora Innovation

Aurora Innovation, Inc develops autonomous vehicle technology designed to transport people and goods without human drivers. Its core product, the Aurora Driver, combines artificial intelligence, sensors, mapping, and other software and hardware systems to enable automated driving across trucking, ride-hailing, and logistics applications.

The company is initially focused on autonomous trucking, where its technology is intended to support long-haul freight operations and improve safety, efficiency, and vehicle utilization.