Aurora Innovation (NASDAQ:AUR – Get Free Report) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday, Zacks reports.
Several other brokerages have also recently commented on AUR. Wall Street Zen cut shares of Aurora Innovation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 1st. Canaccord Genuity Group boosted their price target on Aurora Innovation from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, September 24th. Evercore reiterated an “outperform” rating on shares of Aurora Innovation in a research note on Tuesday, September 15th. Oppenheimer increased their price target on Aurora Innovation from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Thursday, October 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Aurora Innovation in a research note on Friday, July 17th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $13.22.
View Our Latest Research Report on Aurora Innovation
Aurora Innovation Stock Performance
Aurora Innovation (NASDAQ:AUR – Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.02). The business had revenue of $2.00 million during the quarter, compared to analyst estimates of $1.66 million. Aurora Innovation had a negative return on equity of 43.94% and a negative net margin of 18,000.00%. Aurora Innovation’s revenue for the quarter was up 100.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.11) EPS. Sell-side analysts anticipate that Aurora Innovation will post -0.49 EPS for the current year.
Insider Transactions at Aurora Innovation
In other Aurora Innovation news, Director Michelangelo Volpi sold 2,842,682 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $7.00, for a total value of $19,898,774.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders sold 6,390,753 shares of company stock valued at $44,826,378. 8.52% of the stock is owned by corporate insiders.
Institutional Trading of Aurora Innovation
A number of hedge funds have recently made changes to their positions in AUR. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Aurora Innovation by 6.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 274,809,541 shares of the company’s stock worth $1,055,269,000 after purchasing an additional 16,933,373 shares during the period. Clare Market Investments LLC bought a new stake in shares of Aurora Innovation in the first quarter worth $2,697,000. Bank of America Corp DE increased its holdings in Aurora Innovation by 130.0% in the first 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 during the period. Shah Wealth Advisors LLC acquired a new stake in Aurora Innovation in the second quarter valued at $8,038,000. Finally, Wellington Management Group LLP acquired a new stake in Aurora Innovation in the second quarter valued at $25,893,000. 44.71% of the stock is owned by institutional investors and hedge funds.
About Aurora Innovation
Aurora Innovation, Inc develops autonomous driving technology for commercial and passenger vehicles. Its primary product is the Aurora Driver, an autonomous driving system designed to combine hardware, software and artificial intelligence to enable vehicles to operate without a human driver. The company focuses on applications including long-haul trucking, delivery and logistics, and autonomous ride-hailing.
Aurora works with automotive manufacturers, trucking companies, logistics providers and transportation platforms to integrate its technology into production vehicles and commercial fleets.
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