Aurora Innovation (NASDAQ:AUR) Stock Price Down 4.2% – Here’s What Happened

Aurora Innovation, Inc. (NASDAQ:AURGet Free Report) shares were down 4.2% during mid-day trading on Monday . The stock traded as low as $6.09 and last traded at $6.0450. 5,693,459 shares traded hands during trading, a decline of 77% from the average session volume of 24,634,869 shares. The stock had previously closed at $6.31.

Analyst Ratings Changes

A number of brokerages recently commented on AUR. Craig Hallum began coverage on Aurora Innovation in a research note on Friday, June 5th. They set a “buy” rating and a $18.00 price target for the company. Morgan Stanley boosted their target price on Aurora Innovation from $14.00 to $18.00 and gave the company an “overweight” rating in a research report on Friday, September 11th. Evercore restated an “outperform” rating on shares of Aurora Innovation in a report on Tuesday, September 15th. Wall Street Zen downgraded Aurora Innovation from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 1st. Finally, Northland Securities started coverage on Aurora Innovation in a research report on Friday, May 29th. They set an “outperform” rating and a $11.00 target price on the stock. Eight equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Aurora Innovation presently has an average rating of “Moderate Buy” and an average target price of $12.67.

Read Our Latest Report on Aurora Innovation

Aurora Innovation Trading Up 3.2%

The stock has a 50-day simple moving average of $6.31 and a 200 day simple moving average of $5.93. The company has a market cap of $13.05 billion, a price-to-earnings ratio of -13.84 and a beta of 2.63.

Aurora Innovation (NASDAQ:AURGet Free Report) last issued its earnings results on Wednesday, July 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.02). The business had revenue of $2.00 million for the quarter, compared to analysts’ expectations of $1.66 million. Aurora Innovation had a negative return on equity of 43.94% and a negative net margin of 18,000.00%.The company’s revenue for the quarter was up 100.0% on a year-over-year basis. During the same period last year, the business earned ($0.11) EPS. As a group, research analysts forecast that Aurora Innovation, Inc. will post -0.48 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Michelangelo Volpi sold 2,842,682 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $7.00, for a total transaction of $19,898,774.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 6,390,753 shares of company stock valued at $44,826,378. Corporate insiders own 8.52% of the company’s stock.

Institutional Trading of Aurora Innovation

A number of hedge funds have recently added to or reduced their stakes in AUR. Clare Market Investments LLC purchased a new stake in shares of Aurora Innovation during the 1st quarter worth about $2,697,000. T. Rowe Price Investment Management Inc. increased its stake in shares of 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 purchasing an additional 16,933,373 shares in the last quarter. Bank of America Corp DE increased its stake in shares of 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 purchasing an additional 16,975,927 shares in the last quarter. Shah Wealth Advisors LLC acquired a new position in Aurora Innovation in the 2nd quarter worth about $8,038,000. Finally, Amundi raised its holdings in Aurora Innovation by 46.4% in the 1st quarter. Amundi now owns 3,661,728 shares of the company’s stock worth $15,086,000 after purchasing an additional 1,160,872 shares during the period. 44.71% of the stock is owned by hedge funds and other institutional investors.

About Aurora Innovation

(Get Free Report)

Aurora Innovation, Inc develops autonomous vehicle technology designed to transport people and goods without human drivers. Its core product, the Aurora Driver, combines artificial intelligence, sensors, mapping, and other software and hardware systems to enable automated driving across trucking, ride-hailing, and logistics applications.

The company is initially focused on autonomous trucking, where its technology is intended to support long-haul freight operations and improve safety, efficiency, and vehicle utilization.

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