Canaccord Genuity Group Reiterates Buy Rating for Aurora Innovation (NASDAQ:AUR)

Aurora Innovation (NASDAQ:AUR)‘s stock had its “buy” rating reiterated by Canaccord Genuity Group in a report issued on Monday, Benzinga reports. They presently have a $7.00 price target on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 26.13% from the company’s current price.

Aurora Innovation Stock Performance

Aurora Innovation stock opened at $5.55 on Monday. Aurora Innovation has a fifty-two week low of $1.60 and a fifty-two week high of $6.79. The firm’s 50-day simple moving average is $4.35 and its 200 day simple moving average is $3.39.

Aurora Innovation (NASDAQ:AUR) last released its quarterly earnings results on Wednesday, July 31st. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.01.

Institutional Trading of Aurora Innovation

Several hedge funds have recently added to or reduced their stakes in the stock. Algert Global LLC raised its position in Aurora Innovation by 72.9% in the second quarter. Algert Global LLC now owns 265,921 shares of the company’s stock worth $737,000 after acquiring an additional 112,131 shares during the period. Scientech Research LLC bought a new stake in shares of Aurora Innovation in the second quarter valued at approximately $439,000. The Manufacturers Life Insurance Company raised its position in shares of Aurora Innovation by 67.9% in the second quarter. The Manufacturers Life Insurance Company now owns 500,535 shares of the company’s stock valued at $1,386,000 after purchasing an additional 202,413 shares during the period. Employees Retirement System of Texas raised its position in shares of Aurora Innovation by 581.2% in the second quarter. Employees Retirement System of Texas now owns 262,442 shares of the company’s stock valued at $727,000 after purchasing an additional 223,913 shares during the period. Finally, Xponance Inc. raised its position in shares of Aurora Innovation by 147.4% in the second quarter. Xponance Inc. now owns 53,168 shares of the company’s stock valued at $147,000 after purchasing an additional 31,678 shares during the period. Institutional investors 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.