Aurora Innovation, Inc. (NASDAQ:AUR – Get Free Report)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $6.97, but opened at $6.48. Aurora Innovation shares last traded at $6.0530, with a volume of 11,883,530 shares changing hands.
Analyst Ratings Changes
Several analysts recently issued reports on AUR shares. Craig Hallum began coverage on Aurora Innovation in a research report on Friday, June 5th. They set a “buy” rating and a $18.00 target price for the company. Morgan Stanley restated an “overweight” rating and issued a $14.00 price target on shares of Aurora Innovation in a research note on Thursday, May 7th. Northland Securities assumed coverage on shares of Aurora Innovation in a report on Friday, May 29th. They set an “outperform” rating and a $11.00 price objective for the company. Wall Street Zen lowered shares of Aurora Innovation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 1st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Aurora Innovation in a research report on Friday, July 17th. Seven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $12.22.
Get Our Latest Stock Report on AUR
Aurora Innovation Stock Performance
Aurora Innovation (NASDAQ:AUR – Get Free Report) last released its earnings results 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). 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 the consensus estimate of $1.66 million. During the same period in the prior year, the firm posted ($0.11) EPS. The business’s revenue for the quarter was up 100.0% compared to the same quarter last year. Equities research analysts predict that Aurora Innovation, Inc. will post -0.48 EPS for the current year.
Insiders Place Their Bets
In other news, Director David M. Wehner bought 82,500 shares of the stock in a transaction dated Thursday, June 11th. The stock was purchased at an average price of $6.04 per share, for a total transaction of $498,300.00. Following the acquisition, the director owned 246,519 shares of the company’s stock, valued at $1,488,974.76. The trade was a 50.30% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Reid Hoffman sold 1,202,354 shares of Aurora Innovation stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $7.27, for a total transaction of $8,741,113.58. The SEC filing for this sale provides additional information. Insiders sold 4,750,425 shares of company stock valued at $33,668,718 over the last three months. 8.52% of the stock is owned by company insiders.
Hedge Funds Weigh In On Aurora Innovation
Hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio purchased a new stake in Aurora Innovation in the 2nd quarter worth about $2,341,000. Handelsbanken Fonder AB boosted its position in shares of Aurora Innovation by 18.0% during the second quarter. Handelsbanken Fonder AB now owns 398,600 shares of the company’s stock valued at $2,718,000 after buying an additional 60,700 shares during the period. FNY Investment Advisers LLC boosted its position in shares of Aurora Innovation by 20.2% during the second quarter. FNY Investment Advisers LLC now owns 298,497 shares of the company’s stock valued at $2,035,000 after buying an additional 50,097 shares during the period. GAMMA Investing LLC grew its stake in shares of Aurora Innovation by 79.7% during the second quarter. GAMMA Investing LLC now owns 8,501 shares of the company’s stock valued at $58,000 after buying an additional 3,770 shares during the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of Aurora Innovation by 964.9% during the second quarter. Versant Capital Management Inc now owns 8,019 shares of the company’s stock valued at $55,000 after buying an additional 7,266 shares during the last quarter. 44.71% of the stock is currently 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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