Aurora Innovation (NASDAQ:AUR) Hits New 1-Year Low – Here’s Why

Aurora Innovation, Inc. (NASDAQ:AUR) reached a new 52-week low on Friday . The company traded as low as $3.99 and last traded at $4.1050, with a volume of 3599578 shares changing hands. The stock had previously closed at $4.16.

Wall Street Analyst Weigh In

AUR has been the topic of a number of analyst reports. Oppenheimer reaffirmed an “outperform” rating and issued a $15.00 price target on shares of Aurora Innovation in a research note on Wednesday, October 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aurora Innovation in a research note on Wednesday, October 8th. TD Cowen cut their price objective on Aurora Innovation from $7.40 to $5.50 and set a “hold” rating on the stock in a research report on Thursday, October 30th. UBS Group reaffirmed an “underperform” rating on shares of Aurora Innovation in a research report on Wednesday, October 29th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $15.00 target price on shares of Aurora Innovation in a report on Wednesday, October 29th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.44.

Aurora Innovation Stock Performance

The business has a fifty day simple moving average of $5.29 and a 200 day simple moving average of $5.80. The company has a market cap of $7.96 billion, a P/E ratio of -9.17 and a beta of 2.44.

Aurora Innovation (NASDAQ:AUR) last issued its earnings results on Tuesday, October 28th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.01. The business had revenue of $1.00 million during the quarter, compared to the consensus estimate of $1.23 million. During the same period in the prior year, the business earned ($0.13) EPS. Equities research analysts expect that Aurora Innovation, Inc. will post -0.49 EPS for the current year.

Insider Buying and Selling at Aurora Innovation

In related news, Director Brittany Bagley sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $5.39, for a total value of $269,500.00. Following the completion of the sale, the director owned 398,372 shares in the company, valued at approximately $2,147,225.08. This represents a 11.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.85% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Aurora Innovation

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Ossiam acquired a new stake in shares of Aurora Innovation in the third quarter valued at approximately $5,450,000. Perbak Capital Partners LLP raised its stake in Aurora Innovation by 226.1% in the third quarter. Perbak Capital Partners LLP now owns 145,509 shares of the company’s stock valued at $784,000 after purchasing an additional 100,887 shares in the last quarter. Marshall Wace LLP acquired a new stake in Aurora Innovation in the third quarter valued at about $11,707,000. Quantitative Investment Management LLC bought a new stake in shares of Aurora Innovation during the third quarter worth $537,000. Finally, Invesco Ltd. raised its holdings in Aurora Innovation by 27.2% in the 3rd quarter. Invesco Ltd. now owns 2,011,282 shares of the company’s stock valued at $10,841,000 after buying an additional 430,519 shares during the last quarter. 44.71% of the stock is owned by institutional investors.

Aurora Innovation Company Profile

Aurora Innovation, Inc operates as a self-driving technology company in the United States. It focuses on developing Aurora Driver, a platform that brings a suite of self-driving hardware, software, and data services together to adapt and interoperate vehicles. The company was founded in 2017 and is headquartered in Pittsburgh, Pennsylvania.