Aurora Innovation (NASDAQ:AUR) Trading Down 6.8% – Should You Sell?

Aurora Innovation, Inc. (NASDAQ:AUR) shares fell 6.8% during mid-day trading on Monday . The company traded as low as $5.86 and last traded at $5.8160. 14,899,531 shares traded hands during mid-day trading, a decline of 38% from the average daily volume of 24,000,678 shares. The stock had previously closed at $6.24.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on AUR shares. Craig Hallum assumed coverage on shares of Aurora Innovation in a research report on Friday, June 5th. They set a “buy” rating and a $18.00 price target for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aurora Innovation in a research note on Friday, July 17th. Cantor Fitzgerald reissued an “overweight” rating and set a $12.00 price objective on shares of Aurora Innovation in a report on Thursday, July 23rd. Needham & Company LLC reissued a “buy” rating and issued a $13.00 target price on shares of Aurora Innovation in a research report on Thursday, May 7th. Finally, Morgan Stanley restated an “overweight” rating and issued a $14.00 target price on shares of Aurora Innovation in a research note on Thursday, May 7th. Seven 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $12.22.

Aurora Innovation Trading Up 1.4%

The stock’s 50-day moving average price is $6.41 and its 200-day moving average price is $5.72. The company has a market capitalization of $11.56 billion, a P/E ratio of -12.28 and a beta of 2.64.

Aurora Innovation (NASDAQ:AUR) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $1.66 million. During the same quarter in the prior year, the firm earned ($0.11) EPS. The company’s revenue for the quarter was up 100.0% compared to the same quarter last year. Sell-side analysts expect that Aurora Innovation, Inc. will post -0.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Aurora Innovation

In other news, Director Reid Hoffman sold 1,202,354 shares of Aurora Innovation stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $7.27, for a total transaction of $8,741,113.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Michelangelo Volpi sold 2,842,682 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $7.00, for a total value of $19,898,774.00. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 7,593,107 shares of company stock worth $53,567,492. 8.52% of the stock is owned by company insiders.

Hedge Funds Weigh In On Aurora Innovation

A number of institutional investors and hedge funds have recently bought and sold shares of AUR. Garton & Associates Financial Advisors LLC bought a new stake in shares of Aurora Innovation during the 4th quarter worth about $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. acquired a new position in shares of Aurora Innovation during the fourth quarter valued at approximately $39,000. Stonebridge Financial Group LLC MO bought a new stake in Aurora Innovation during the fourth quarter worth approximately $40,000. Finally, Equitable Holdings Inc. bought a new stake in Aurora Innovation during the fourth quarter worth approximately $41,000. 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.