Aurora Innovation (NASDAQ:AUR) Price Target Lowered to $4.70 at TD Cowen

Aurora Innovation (NASDAQ:AUR) had its price target reduced by research analysts at TD Cowen from $5.50 to $4.70 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “hold” rating on the stock. TD Cowen’s price target would indicate a potential upside of 5.50% from the company’s previous close.

A number of other brokerages have also issued reports on AUR. Needham & Company LLC reissued a “buy” rating and issued a $13.00 price objective on shares of Aurora Innovation in a report on Thursday. Oppenheimer reaffirmed an “outperform” rating and issued a $15.00 price objective on shares of Aurora Innovation in a report on Wednesday, October 29th. Canaccord Genuity Group reiterated a “buy” rating and issued a $15.00 price objective on shares of Aurora Innovation in a report on Wednesday, October 29th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Aurora Innovation in a research note on Monday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Aurora Innovation in a report on Wednesday, January 21st. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $9.96.

Aurora Innovation Stock Up 5.6%

AUR stock traded up $0.24 during midday trading on Friday, reaching $4.46. The company had a trading volume of 5,663,942 shares, compared to its average volume of 17,203,686. The stock has a 50 day moving average price of $4.33 and a 200 day moving average price of $4.97. The firm has a market capitalization of $8.62 billion, a PE ratio of -9.81 and a beta of 2.47. Aurora Innovation has a fifty-two week low of $3.60 and a fifty-two week high of $10.77.

Aurora Innovation (NASDAQ:AUR) last released its quarterly earnings data on Wednesday, February 11th. The company reported ($0.12) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.12). The company had revenue of $1.00 million for the quarter, compared to analyst estimates of $1.47 million. Research analysts predict that Aurora Innovation will post -0.49 EPS for the current year.

Insider Activity at Aurora Innovation

In other news, CEO Christopher Urmson acquired 258,000 shares of Aurora Innovation stock in a transaction on Tuesday, November 25th. The stock was bought at an average cost of $3.88 per share, with a total value of $1,001,040.00. Following the completion of the purchase, the chief executive officer owned 258,000 shares of the company’s stock, valued at $1,001,040. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 11.85% of the company’s stock.

Institutional Investors Weigh In On Aurora Innovation

Several hedge funds have recently made changes to their positions in AUR. Police & Firemen s Retirement System of New Jersey increased its position in Aurora Innovation by 6.3% in the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 487,493 shares of the company’s stock worth $1,872,000 after purchasing an additional 28,965 shares during the last quarter. State Street Corp lifted its holdings in shares of Aurora Innovation by 8.1% during the 4th quarter. State Street Corp now owns 20,544,319 shares of the company’s stock valued at $78,890,000 after buying an additional 1,533,171 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Aurora Innovation by 12.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,386,426 shares of the company’s stock valued at $9,164,000 after buying an additional 261,320 shares in the last quarter. Federation des caisses Desjardins du Quebec increased its holdings in Aurora Innovation by 38.1% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 101,519 shares of the company’s stock worth $390,000 after buying an additional 28,005 shares during the last quarter. Finally, Hohimer Wealth Management LLC acquired a new position in Aurora Innovation in the fourth quarter worth approximately $1,241,000. Hedge funds and other institutional investors own 44.71% of the company’s stock.

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.