Aurora Innovation (NASDAQ:AUR) Shares Down 6.4% – Time to Sell?

Aurora Innovation, Inc. (NASDAQ:AUR)’s share price dropped 6.4% during mid-day trading on Wednesday . The stock traded as low as $8.94 and last traded at $8.86. Approximately 1,097,471 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 16,360,346 shares. The stock had previously closed at $9.47.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 target price on shares of Aurora Innovation in a report on Thursday, February 13th. Canaccord Genuity Group raised their target price on Aurora Innovation from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. TD Cowen raised their price target on Aurora Innovation from $3.00 to $4.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. The Goldman Sachs Group raised their price target on Aurora Innovation from $2.00 to $2.50 and gave the stock a “sell” rating in a research report on Monday, November 4th. Finally, Evercore ISI boosted their price target on Aurora Innovation from $5.00 to $6.00 and gave the stock an “in-line” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $6.50.

Aurora Innovation Trading Down 5.3 %

The company has a 50 day moving average price of $7.19 and a 200 day moving average price of $5.94. The company has a market capitalization of $15.41 billion, a P/E ratio of -19.03 and a beta of 2.85.

Aurora Innovation (NASDAQ:AUR) last announced its quarterly earnings data on Wednesday, February 12th. The company reported ($0.11) earnings per share for the quarter. As a group, sell-side analysts forecast that Aurora Innovation, Inc. will post -0.49 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Gloria R. Boyland sold 30,000 shares of Aurora Innovation stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $6.30, for a total value of $189,000.00. Following the transaction, the director now directly owns 344,647 shares of the company’s stock, valued at $2,171,276.10. The trade was a 8.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 13.83% of the company’s stock.

Hedge Funds Weigh In On Aurora Innovation

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. GTS Securities LLC raised its position in shares of Aurora Innovation by 46.9% during the fourth quarter. GTS Securities LLC now owns 20,071 shares of the company’s stock worth $126,000 after purchasing an additional 6,407 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Aurora Innovation by 41.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,918,807 shares of the company’s stock worth $12,088,000 after acquiring an additional 564,227 shares during the period. Voloridge Investment Management LLC purchased a new stake in Aurora Innovation during the 4th quarter worth about $6,958,000. Vident Advisory LLC purchased a new stake in Aurora Innovation during the 4th quarter worth about $94,000. Finally, Squarepoint Ops LLC purchased a new stake in Aurora Innovation during the 4th quarter worth about $5,535,000. 44.71% of the stock is owned by institutional investors and hedge funds.

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.