Shares of Aurora Innovation, Inc. (NASDAQ:AUR – Get Free Report) were down 7% during mid-day trading on Tuesday . The company traded as low as $6.82 and last traded at $6.9040. Approximately 8,416,378 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 21,001,963 shares. The stock had previously closed at $7.42.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on AUR shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Aurora Innovation in a research note on Monday, February 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aurora Innovation in a research note on Monday, April 20th. The Goldman Sachs Group lifted their price target on shares of Aurora Innovation from $4.00 to $5.00 and gave the stock a “neutral” rating in a research report on Friday, April 17th. Needham & Company LLC reissued a “buy” rating and set a $13.00 price target on shares of Aurora Innovation in a research report on Thursday, May 7th. Finally, TD Cowen lifted their price target on shares of Aurora Innovation from $4.70 to $7.00 and gave the stock a “hold” rating in a research report on Thursday, May 7th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Aurora Innovation has an average rating of “Hold” and an average price target of $11.50.
Check Out Our Latest Research Report on AUR
Aurora Innovation Price Performance
Aurora Innovation (NASDAQ:AUR – Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.01. The company had revenue of $1.00 million for 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. Research analysts expect that Aurora Innovation, Inc. will post -0.46 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Aurora Innovation
Several institutional investors have recently added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. lifted its position in Aurora Innovation by 6.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 274,809,541 shares of the company’s stock valued at $1,055,269,000 after acquiring an additional 16,933,373 shares in the last quarter. Vanguard Group Inc. lifted its position in Aurora Innovation by 12.5% in the 4th quarter. Vanguard Group Inc. now owns 160,567,323 shares of the company’s stock valued at $616,579,000 after acquiring an additional 17,818,179 shares in the last quarter. Capital Research Global Investors lifted its position in Aurora Innovation by 35.9% in the 3rd quarter. Capital Research Global Investors now owns 71,298,585 shares of the company’s stock valued at $384,299,000 after acquiring an additional 18,820,542 shares in the last quarter. Bank of America Corp DE lifted its position in Aurora Innovation by 130.0% in the 1st quarter. Bank of America Corp DE now owns 30,036,169 shares of the company’s stock valued at $123,749,000 after acquiring an additional 16,975,927 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Aurora Innovation by 7.5% in the 4th quarter. Geode Capital Management LLC now owns 21,488,433 shares of the company’s stock valued at $82,535,000 after acquiring an additional 1,498,515 shares in the last quarter. 44.71% of the stock is owned by institutional investors.
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.
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