Short Interest in Aurora Innovation, Inc. (NASDAQ:AUR) Declines By 6.4%

Aurora Innovation, Inc. (NASDAQ:AUR) saw a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 83,910,000 shares, a decrease of 6.4% from the October 15th total of 89,600,000 shares. Approximately 8.9% of the company’s stock are sold short. Based on an average daily volume of 8,710,000 shares, the short-interest ratio is currently 9.6 days.

Analysts Set New Price Targets

AUR has been the topic of several analyst reports. Canaccord Genuity Group reissued a “buy” rating and issued a $7.00 target price on shares of Aurora Innovation in a report on Monday, September 30th. The Goldman Sachs Group upped their price target on shares of Aurora Innovation from $2.00 to $2.50 and gave the stock a “sell” rating in a research note on Monday, November 4th. Evercore ISI raised their price objective on shares of Aurora Innovation from $3.00 to $5.00 and gave the company an “in-line” rating in a research note on Monday, October 14th. Finally, TD Cowen upped their target price on shares of Aurora Innovation from $3.00 to $4.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st.

Insider Buying and Selling

In other news, Director Reid Hoffman sold 3,500,000 shares of Aurora Innovation stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $5.58, for a total transaction of $19,530,000.00. Following the completion of the transaction, the director now directly owns 382,425 shares in the company, valued at approximately $2,133,931.50. This trade represents a 90.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 8,746,667 shares of company stock valued at $48,243,337 over the last ninety days. Company insiders own 13.83% of the company’s stock.

Hedge Funds Weigh In On Aurora Innovation

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Sterling Investment Advisors Ltd. purchased a new position in Aurora Innovation in the 3rd quarter worth about $1,184,000. Vanguard Group Inc. grew its stake in Aurora Innovation by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 84,784,550 shares of the company’s stock worth $239,092,000 after acquiring an additional 1,267,962 shares in the last quarter. Creative Planning purchased a new position in shares of Aurora Innovation during the third quarter worth approximately $652,000. The Manufacturers Life Insurance Company raised its stake in shares of Aurora Innovation by 67.9% during the second quarter. The Manufacturers Life Insurance Company now owns 500,535 shares of the company’s stock valued at $1,386,000 after acquiring an additional 202,413 shares in the last quarter. Finally, Empowered Funds LLC boosted its holdings in shares of Aurora Innovation by 44.1% in the first quarter. Empowered Funds LLC now owns 17,597 shares of the company’s stock valued at $50,000 after purchasing an additional 5,386 shares during the period. 44.71% of the stock is owned by hedge funds and other institutional investors.

Aurora Innovation Stock Up 23.2 %

Shares of Aurora Innovation stock opened at $6.15 on Tuesday. Aurora Innovation has a 52 week low of $2.06 and a 52 week high of $7.01. The company has a market capitalization of $10.57 billion, a price-to-earnings ratio of -12.55 and a beta of 2.82. The stock’s 50-day simple moving average is $5.58 and its 200-day simple moving average is $4.10.

About Aurora Innovation

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.