Aurora Innovation (NASDAQ:AUR) Stock Price Down 12.3% – Here’s Why

Aurora Innovation, Inc. (NASDAQ:AUR)’s stock price was down 12.3% on Monday . The company traded as low as $6.23 and last traded at $6.23. Approximately 8,191,315 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 15,962,853 shares. The stock had previously closed at $7.10.

Analyst Upgrades and Downgrades

AUR has been the subject of several analyst reports. TD Cowen assumed coverage on Aurora Innovation in a report on Friday, March 7th. They issued a “hold” rating and a $8.00 price target for the company. Wolfe Research started coverage on Aurora Innovation in a research report on Tuesday, November 26th. They set a “peer perform” rating on the stock. Morgan Stanley started coverage on Aurora Innovation in a report on Monday, March 3rd. They issued an “overweight” rating and a $12.00 price target for the company. Evercore ISI increased their price objective on shares of Aurora Innovation from $5.00 to $6.00 and gave the stock an “in-line” rating in a report on Tuesday, February 18th. Finally, Canaccord Genuity Group boosted their target price 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 issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Aurora Innovation has a consensus rating of “Hold” and an average target price of $8.08.

Aurora Innovation Trading Down 1.1 %

The business has a 50-day moving average price of $7.24 and a two-hundred day moving average price of $6.35. The firm has a market capitalization of $10.88 billion, a price-to-earnings ratio of -13.30 and a beta of 2.82.

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

Hedge Funds Weigh In On Aurora Innovation

Several hedge funds have recently made changes to their positions in AUR. Twin Tree Management LP raised its holdings in shares of Aurora Innovation by 217.2% during the fourth quarter. Twin Tree Management LP now owns 4,450 shares of the company’s stock valued at $28,000 after acquiring an additional 3,047 shares during the period. GPS Wealth Strategies Group LLC boosted its stake in shares of Aurora Innovation by 241.7% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 7,005 shares of the company’s stock worth $44,000 after acquiring an additional 4,955 shares in the last quarter. Souders Financial Advisors acquired a new stake in shares of Aurora Innovation in the third quarter worth $59,000. Dynamic Technology Lab Private Ltd acquired a new position in Aurora Innovation during the 3rd quarter worth $60,000. Finally, Sigma Planning Corp acquired a new stake in Aurora Innovation in the 3rd quarter valued at approximately $63,000. Institutional investors and hedge funds own 44.71% of the company’s stock.

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.