Aurora Innovation (NASDAQ:AUR) Trading Down 3.7% – Here’s What Happened

Aurora Innovation, Inc. (NASDAQ:AUR) shares were down 3.7% during trading on Tuesday . The company traded as low as $7.33 and last traded at $7.36. Approximately 757,918 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 11,045,260 shares. The stock had previously closed at $7.64.

Analyst Ratings Changes

A number of research firms recently weighed in on AUR. Canaccord Genuity Group raised their price objective on Aurora Innovation from $7.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Evercore ISI raised their price target on Aurora Innovation from $5.00 to $6.00 and gave the company an “in-line” rating in a report on Tuesday, February 18th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 price target on shares of Aurora Innovation in a research note on Thursday, February 13th. Morgan Stanley started coverage on shares of Aurora Innovation in a research report on Monday, March 3rd. They set an “overweight” rating and a $12.00 price objective on the stock. Finally, Oppenheimer started coverage on shares of Aurora Innovation in a research note on Thursday. They issued an “outperform” rating and a $15.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $9.07.

Aurora Innovation Trading Down 9.1 %

The company’s 50 day simple moving average is $7.27 and its 200-day simple moving average is $6.55. The firm has a market cap of $12.39 billion, a P/E ratio of -15.15 and a beta of 2.82.

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

Institutional Investors Weigh In On Aurora Innovation

Several hedge funds and other institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System lifted its position in Aurora Innovation by 18.3% during the fourth quarter. California State Teachers Retirement System now owns 876,364 shares of the company’s stock valued at $5,521,000 after purchasing an additional 135,266 shares in the last quarter. Castle Rock Wealth Management LLC purchased a new position in shares of Aurora Innovation during the 4th quarter valued at about $721,000. Mackenzie Financial Corp grew its stake in shares of Aurora Innovation by 314.2% during the 4th quarter. Mackenzie Financial Corp now owns 44,104 shares of the company’s stock valued at $278,000 after acquiring an additional 33,456 shares during the period. GTS Securities LLC increased its holdings in Aurora Innovation by 46.9% in the 4th quarter. GTS Securities LLC now owns 20,071 shares of the company’s stock worth $126,000 after acquiring an additional 6,407 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Aurora Innovation by 41.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,918,807 shares of the company’s stock valued at $12,088,000 after purchasing an additional 564,227 shares in the last quarter. 44.71% of the stock is currently owned by hedge funds and other institutional investors.

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.