Aurora Innovation Sees Unusually High Options Volume (NASDAQ:AUR)

Aurora Innovation, Inc. (NASDAQ:AUR) was the recipient of some unusual options trading activity on Wednesday. Stock investors acquired 25,746 call options on the stock. This is an increase of approximately 129% compared to the typical daily volume of 11,220 call options.

Aurora Innovation Price Performance

Shares of AUR traded down $0.45 during midday trading on Wednesday, reaching $6.01. 23,268,394 shares of the stock were exchanged, compared to its average volume of 24,886,020. Aurora Innovation has a twelve month low of $3.60 and a twelve month high of $8.56. The company has a market capitalization of $12.06 billion, a price-to-earnings ratio of -12.76 and a beta of 2.63. The business’s 50-day moving average price is $6.33 and its 200 day moving average price is $5.96.

Aurora Innovation (NASDAQ:AUR) last announced its earnings results on Wednesday, July 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02). The firm had revenue of $2.00 million during the quarter, compared to analyst estimates of $1.66 million. Aurora Innovation had a negative net margin of 18,000.00% and a negative return on equity of 43.94%. The firm’s revenue for the quarter was up 100.0% compared to the same quarter last year. During the same period last year, the company earned ($0.11) earnings per share. As a group, equities research analysts expect that Aurora Innovation will post -0.48 earnings per share for the current fiscal year.

Insider Activity at Aurora Innovation

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

Institutional Investors Weigh In On Aurora Innovation

Several large investors have recently modified their holdings of the company. State Street Corp increased its holdings in shares of Aurora Innovation by 6.0% in the 2nd quarter. State Street Corp now owns 22,922,729 shares of the company’s stock valued at $156,333,000 after acquiring an additional 1,293,487 shares during the period. Tidal Investments LLC boosted its stake in Aurora Innovation by 32.5% during the 2nd quarter. Tidal Investments LLC now owns 16,505 shares of the company’s stock worth $113,000 after purchasing an additional 4,048 shares during the period. BlueCrest Capital Management Ltd acquired a new stake in Aurora Innovation during the 2nd quarter worth $490,000. Integrated Wealth Concepts LLC grew its position in Aurora Innovation by 30.4% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 15,039 shares of the company’s stock worth $103,000 after purchasing an additional 3,504 shares during the last quarter. Finally, Maven Securities LTD purchased a new position in Aurora Innovation during the 2nd quarter worth $743,000. 44.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AUR has been the topic of a number of analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Aurora Innovation in a research note on Friday, July 17th. Craig Hallum started coverage on Aurora Innovation in a report on Friday, June 5th. They issued a “buy” rating and a $18.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Aurora Innovation in a report on Monday. Morgan Stanley raised their target price on Aurora Innovation from $14.00 to $18.00 and gave the stock an “overweight” rating in a research report on Friday, September 11th. Finally, Wall Street Zen cut Aurora Innovation from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 1st. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $12.67.

Aurora Innovation Company Profile

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.