Canaccord Genuity Group Reiterates “Buy” Rating for Aurora Innovation (NASDAQ:AUR)

Canaccord Genuity Group reiterated their buy rating on shares of Aurora Innovation (NASDAQ:AUR) in a research note released on Monday, Benzinga reports. Canaccord Genuity Group currently has a $7.00 price target on the stock.

Aurora Innovation Stock Down 2.0 %

Shares of AUR opened at $5.44 on Monday. The stock has a market cap of $8.53 billion, a P/E ratio of -9.89 and a beta of 2.78. The business’s 50 day moving average price is $4.37 and its 200-day moving average price is $3.41. Aurora Innovation has a 52 week low of $1.60 and a 52 week high of $6.79.

Aurora Innovation (NASDAQ:AUR) last announced its quarterly earnings data on Wednesday, July 31st. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.01.

Institutional Trading of Aurora Innovation

A number of institutional investors and hedge funds have recently modified their holdings of AUR. Algert Global LLC raised its position in Aurora Innovation by 72.9% in the 2nd quarter. Algert Global LLC now owns 265,921 shares of the company’s stock worth $737,000 after buying an additional 112,131 shares during the last quarter. Scientech Research LLC purchased a new stake in Aurora Innovation during the 2nd quarter valued at $439,000. The Manufacturers Life Insurance Company boosted its stake in shares of Aurora Innovation by 67.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 500,535 shares of the company’s stock worth $1,386,000 after buying an additional 202,413 shares during the last quarter. Employees Retirement System of Texas increased its position in Aurora Innovation by 581.2% during the second quarter. Employees Retirement System of Texas now owns 262,442 shares of the company’s stock valued at $727,000 after acquiring an additional 223,913 shares during the last quarter. Finally, Xponance Inc. lifted its holdings in Aurora Innovation by 147.4% in the second quarter. Xponance Inc. now owns 53,168 shares of the company’s stock valued at $147,000 after acquiring an additional 31,678 shares during the period. Institutional investors own 44.71% of the company’s stock.

Aurora Innovation Company Profile

Aurora Innovation, Inc operates as a self-driving technology company in the United States. It focuses on developing Aurora Driver, a platform that brings a suite of self-driving hardware, software, and data services together to adapt and interoperate vehicles. The company was founded in 2017 and is headquartered in Pittsburgh, Pennsylvania.