Aurora Innovation (NASDAQ:AUR) Trading 8.3% Higher – Should You Buy?

Aurora Innovation, Inc. (NASDAQ:AUR) shot up 8.3% on Thursday . The stock traded as high as $5.43 and last traded at $5.5150. 5,177,743 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 18,137,199 shares. The stock had previously closed at $5.09.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AUR. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aurora Innovation in a research report on Monday, April 20th. The Goldman Sachs Group upped their target price on Aurora Innovation from $4.00 to $5.00 and gave the stock a “neutral” rating in a research report on Friday, April 17th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Aurora Innovation in a research report on Monday, February 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $13.00 target price on shares of Aurora Innovation in a research report on Thursday, February 12th. Finally, Wall Street Zen downgraded Aurora Innovation from a “hold” rating to a “sell” rating in a research report on Sunday. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $10.54.

Aurora Innovation Price Performance

The stock has a market cap of $11.78 billion, a PE ratio of -13.43 and a beta of 2.44. The business has a fifty day moving average of $4.53 and a 200 day moving average of $4.47.

Aurora Innovation (NASDAQ:AUR) last announced its quarterly earnings data on Wednesday, February 11th. The company reported ($0.12) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.12). The firm had revenue of $1.00 million for the quarter, compared to analyst estimates of $1.47 million. On average, equities research analysts expect that Aurora Innovation, Inc. will post -0.47 EPS for the current year.

Institutional Trading of Aurora Innovation

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Aurora Innovation by 3.4% during the 3rd quarter. Vanguard Group Inc. now owns 142,749,144 shares of the company’s stock worth $769,418,000 after purchasing an additional 4,740,588 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Aurora Innovation by 17.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,264,577 shares of the company’s stock worth $39,156,000 after purchasing an additional 1,094,021 shares during the period. Bank Pictet & Cie Europe AG acquired a new stake in Aurora Innovation in the 3rd quarter valued at approximately $18,326,000. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its position in Aurora Innovation by 230.5% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 647,096 shares of the company’s stock valued at $3,488,000 after acquiring an additional 451,315 shares during the period. Finally, SG Americas Securities LLC increased its position in Aurora Innovation by 6,824.0% in the 4th quarter. SG Americas Securities LLC now owns 9,645,035 shares of the company’s stock valued at $37,037,000 after acquiring an additional 9,505,736 shares during the period. 44.71% of the stock is currently owned by institutional investors and hedge funds.

About Aurora Innovation

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.