Aurora Innovation (NASDAQ:AUR) Sees Large Volume Increase – Here’s Why

Aurora Innovation, Inc. (NASDAQ:AUR) shares saw unusually-strong trading volume on Monday . Approximately 4,100,765 shares traded hands during trading, a decline of 52% from the previous session’s volume of 8,602,210 shares.The stock last traded at $5.33 and had previously closed at $5.81.

Analyst Ratings Changes

A number of analysts recently weighed in on AUR shares. Evercore ISI increased their price target on shares of Aurora Innovation from $3.00 to $5.00 and gave the stock an “in-line” rating in a research note on Monday, October 14th. Canaccord Genuity Group reiterated a “buy” rating and set a $7.00 price target on shares of Aurora Innovation in a research note on Monday, September 30th. Finally, TD Cowen increased their price target on shares of Aurora Innovation from $3.00 to $4.00 and gave the stock a “hold” rating in a research note on Thursday.

Aurora Innovation Stock Performance

The company has a market cap of $8.46 billion, a PE ratio of -10.88 and a beta of 2.82. The stock’s 50-day simple moving average is $5.36 and its 200 day simple moving average is $3.92.

Hedge Funds Weigh In On Aurora Innovation

Large investors have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC purchased a new position in shares of Aurora Innovation in the 2nd quarter valued at about $30,000. Profund Advisors LLC purchased a new position in shares of Aurora Innovation in the 2nd quarter valued at about $46,000. Empowered Funds LLC increased its holdings in shares of Aurora Innovation by 44.1% in the 1st 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 in the last quarter. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Aurora Innovation in the 2nd quarter valued at about $51,000. Finally, Diversified Portfolios Inc. purchased a new position in shares of Aurora Innovation in the 2nd quarter valued at about $54,000. Hedge funds and other institutional investors 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.