Aurora Innovation (NASDAQ:AUR) Trading Down 8.1% – What’s Next?

Aurora Innovation, Inc. (NASDAQ:AUR) was down 8.1% on Thursday . The stock traded as low as $6.08 and last traded at $6.0720. 18,507,953 shares traded hands during trading, a decline of 20% from the average session volume of 23,232,061 shares. The stock had previously closed at $6.61.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on AUR shares. Needham & Company LLC restated a “buy” rating and set a $13.00 price objective on shares of Aurora Innovation in a report on Thursday, May 7th. Wall Street Zen lowered shares of Aurora Innovation from a “hold” rating to a “sell” rating in a research note on Sunday, April 26th. The Goldman Sachs Group upped their target price on shares of Aurora Innovation from $4.00 to $5.00 and gave the stock a “neutral” rating in a report on Friday, April 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aurora Innovation in a research note on Friday, July 17th. Finally, Craig Hallum assumed coverage on Aurora Innovation in a research note on Friday, June 5th. They issued a “buy” rating and a $18.00 price objective for the company. Seven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Aurora Innovation currently has a consensus rating of “Hold” and an average target price of $12.22.

Aurora Innovation Price Performance

The stock has a fifty day moving average of $6.53 and a 200 day moving average of $5.40. The firm has a market capitalization of $11.67 billion, a P/E ratio of -13.52 and a beta of 2.63.

Aurora Innovation (NASDAQ:AUR) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.01. The company had revenue of $1.00 million for the quarter, compared to the consensus estimate of $0.97 million. Aurora Innovation had a negative net margin of 20,775.00% and a negative return on equity of 40.45%. The firm’s revenue for the quarter was down 66.7% compared to the same quarter last year. Equities analysts forecast that Aurora Innovation, Inc. will post -0.47 EPS for the current fiscal year.

Insiders Place Their Bets

In other Aurora Innovation news, Director David M. Wehner acquired 82,500 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were acquired at an average cost of $6.04 per share, with a total value of $498,300.00. Following the completion of the acquisition, the director directly owned 246,519 shares in the company, valued at $1,488,974.76. This trade represents a 50.30% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Reid Hoffman sold 5,498,487 shares of Aurora Innovation stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $7.81, for a total transaction of $42,943,183.47. Following the completion of the transaction, the director owned 77,500 shares of the company’s stock, valued at $605,275. The trade was a 98.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 7,048,487 shares of company stock worth $54,295,119 in the last ninety days. Insiders own 8.52% of the company’s stock.

Institutional Investors Weigh In On Aurora Innovation

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Danske Bank A S bought a new position in shares of Aurora Innovation in the third quarter worth $36,000. Versant Capital Management Inc boosted its stake in Aurora Innovation by 964.9% in the 2nd quarter. Versant Capital Management Inc now owns 8,019 shares of the company’s stock worth $55,000 after purchasing an additional 7,266 shares during the period. GAMMA Investing LLC grew its holdings in Aurora Innovation by 79.7% during the 2nd 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 in the last quarter. Garton & Associates Financial Advisors LLC bought a new stake in shares of Aurora Innovation during the fourth quarter valued at about $35,000. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in shares of Aurora Innovation in the fourth quarter worth about $39,000. Institutional investors own 44.71% of the company’s stock.

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.