Aurora Innovation (NASDAQ:AUR) Price Target Raised to $17.00 at Canaccord Genuity Group

Aurora Innovation (NASDAQ:AUR) had its price target upped by research analysts at Canaccord Genuity Group from $15.00 to $17.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 168.99% from the company’s current price.

A number of other research firms have also recently issued reports on AUR. Weiss Ratings restated a “sell (d-)” rating on shares of Aurora Innovation in a report on Friday, July 17th. Evercore restated an “outperform” rating on shares of Aurora Innovation in a research report on Tuesday, September 15th. The Goldman Sachs Group restated a “neutral” rating on shares of Aurora Innovation in a research note on Thursday. Northland Securities started coverage on Aurora Innovation in a research report on Friday, May 29th. They set an “outperform” rating and a $11.00 price objective on the stock. Finally, Morgan Stanley upped their target price on shares of Aurora Innovation from $14.00 to $18.00 and gave the stock an “overweight” rating in a research report on Friday, September 11th. Eight 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $12.89.

Aurora Innovation Stock Down 2.2%

Shares of NASDAQ:AUR opened at $6.32 on Thursday. Aurora Innovation has a fifty-two week low of $3.60 and a fifty-two week high of $8.56. The company has a market cap of $12.67 billion, a PE ratio of -13.45 and a beta of 2.63. The company’s 50-day moving average price is $6.33 and its 200 day moving average price is $5.97.

Aurora Innovation (NASDAQ:AUR) last released its earnings results on Wednesday, July 29th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02). The business had revenue of $2.00 million during the quarter, compared to the consensus estimate 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 firm’s revenue for the quarter was up 100.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.11) earnings per share. As a group, equities analysts anticipate that Aurora Innovation will post -0.48 EPS for the current year.

Insider Activity at Aurora Innovation

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

Hedge Funds Weigh In On Aurora Innovation

A number of hedge funds have recently modified their holdings of the business. T. Rowe Price Investment Management Inc. grew its position 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 buying an additional 16,933,373 shares during the last quarter. Bank of America Corp DE boosted 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 during the last quarter. State Street Corp lifted its holdings in Aurora Innovation by 6.0% in the second quarter. State Street Corp now owns 22,922,729 shares of the company’s stock valued at $156,333,000 after buying an additional 1,293,487 shares during the period. Geode Capital Management LLC lifted its holdings in Aurora Innovation by 7.5% in the fourth quarter. Geode Capital Management LLC now owns 21,488,433 shares of the company’s stock valued at $82,535,000 after buying an additional 1,498,515 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Aurora Innovation by 4.3% during the first quarter. Dimensional Fund Advisors LP now owns 11,807,009 shares of the company’s stock valued at $48,621,000 after acquiring an additional 490,659 shares during the last quarter. Institutional investors and hedge funds own 44.71% of the company’s stock.

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.