Aurora Innovation (NASDAQ:AUR) Earns Outperform Rating from Analysts at Northland Securities

Equities research analysts at Northland Securities began coverage on shares of Aurora Innovation (NASDAQ:AUR) in a report released on Friday. The brokerage set an “outperform” rating and a $11.00 price target on the stock. Northland Securities’ price target suggests a potential upside of 55.59% from the company’s previous close.

Several other research firms have also recently commented on AUR. Cantor Fitzgerald restated an “overweight” rating on shares of Aurora Innovation in a report on Monday, February 9th. TD Cowen lifted their target price on shares of Aurora Innovation from $4.70 to $7.00 and gave the company a “hold” rating in a research note on Thursday, May 7th. Wall Street Zen cut shares of Aurora Innovation from a “hold” rating to a “sell” rating in a research note on Sunday, April 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aurora Innovation in a research note on Monday, April 20th. Finally, The Goldman Sachs Group lifted their target price on shares of Aurora Innovation from $4.00 to $5.00 and gave the company a “neutral” rating in a research note on Friday, April 17th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $11.43.

Aurora Innovation Stock Performance

AUR stock opened at $7.07 on Friday. The stock has a market cap of $13.87 billion, a P/E ratio of -16.07 and a beta of 2.58. The firm has a 50 day simple moving average of $5.52 and a 200 day simple moving average of $4.75. Aurora Innovation has a 52 week low of $3.60 and a 52 week high of $8.56.

Aurora Innovation (NASDAQ:AUR) last posted 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 analysts’ expectations of $0.97 million. Aurora Innovation had a negative net margin of 20,775.00% and a negative return on equity of 40.45%. Aurora Innovation’s quarterly revenue was down 66.7% on a year-over-year basis. Sell-side analysts predict that Aurora Innovation will post -0.46 EPS for the current year.

Insider Transactions at Aurora Innovation

In other Aurora Innovation news, Director Reid Hoffman sold 1,202,354 shares of Aurora Innovation stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 7,048,487 shares of company stock valued at $54,295,119 in the last ninety days. 8.52% of the stock is owned by insiders.

Hedge Funds Weigh In On Aurora Innovation

A number of institutional investors have recently modified their holdings of AUR. Garton & Associates Financial Advisors LLC bought a new position in shares of Aurora Innovation in the fourth quarter valued at approximately $35,000. Danske Bank A S bought a new position in shares of Aurora Innovation in the third quarter valued at approximately $36,000. Eurizon Capital SGR S.p.A. bought a new position in shares of Aurora Innovation in the fourth quarter valued at approximately $39,000. Stonebridge Financial Group LLC MO bought a new position in shares of Aurora Innovation in the fourth quarter valued at approximately $40,000. Finally, Equitable Holdings Inc. bought a new position in shares of Aurora Innovation in the fourth quarter valued at approximately $41,000. Institutional investors 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.