Aurora Innovation (NASDAQ:AUR) Trading 5.7% Higher – Here’s Why

Shares of Aurora Innovation, Inc. (NASDAQ:AUR) were up 5.7% during mid-day trading on Thursday . The company traded as high as $7.55 and last traded at $7.53. Approximately 8,589,804 shares were traded during trading, a decline of 22% from the average daily volume of 11,069,509 shares. The stock had previously closed at $7.12.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AUR. Morgan Stanley started coverage on shares of Aurora Innovation in a research report on Monday, March 3rd. They issued an “overweight” rating and a $12.00 target price on the stock. TD Cowen started coverage on Aurora Innovation in a report on Friday, March 7th. They set a “hold” rating and a $8.00 price objective on the stock. Oppenheimer assumed coverage on Aurora Innovation in a research report on Thursday. They issued an “outperform” rating and a $15.00 target price for the company. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price target on shares of Aurora Innovation in a report on Thursday, February 13th. Finally, Canaccord Genuity Group raised their price objective on shares of Aurora Innovation from $7.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $9.07.

Aurora Innovation Price Performance

The company has a fifty day moving average of $7.28 and a 200 day moving average of $6.58. The firm has a market capitalization of $11.63 billion, a P/E ratio of -14.21 and a beta of 2.82.

Aurora Innovation (NASDAQ:AUR) last released its earnings results on Wednesday, February 12th. The company reported ($0.11) earnings per share (EPS) for the quarter. On average, sell-side analysts forecast that Aurora Innovation, Inc. will post -0.49 EPS for the current year.

Institutional Trading of Aurora Innovation

Several large investors have recently modified their holdings of AUR. Victory Capital Management Inc. grew its holdings in Aurora Innovation by 9.9% in the third quarter. Victory Capital Management Inc. now owns 112,291 shares of the company’s stock worth $665,000 after purchasing an additional 10,092 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Aurora Innovation by 26.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,424,827 shares of the company’s stock valued at $49,875,000 after buying an additional 1,776,513 shares during the period. Citigroup Inc. increased its position in Aurora Innovation by 229.4% in the 3rd quarter. Citigroup Inc. now owns 705,181 shares of the company’s stock valued at $4,175,000 after buying an additional 491,125 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Aurora Innovation during the 3rd quarter worth approximately $60,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in Aurora Innovation by 7.4% in the third quarter. The Manufacturers Life Insurance Company now owns 537,776 shares of the company’s stock worth $3,184,000 after acquiring an additional 37,241 shares in the last quarter. Institutional investors and hedge funds 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.