Aurora Innovation (NASDAQ:AUR) Earns Outperform Rating from Analysts at Northland Securities

Equities research analysts at Northland Securities began coverage on shares of Aurora Innovation (NASDAQ:AUR) in a report issued on Friday. The brokerage set an “outperform” rating and a $11.00 price target on the stock. Northland Securities’ price target suggests a potential upside of 55.59% from the stock’s previous close.

Several other equities research analysts have also issued reports on AUR. TD Cowen boosted their price target on shares of Aurora Innovation from $4.70 to $7.00 and gave the company a “hold” rating in a report on Thursday, May 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Aurora Innovation in a report on Monday, April 20th. Cantor Fitzgerald reissued an “overweight” rating on shares of Aurora Innovation in a report on Monday, February 9th. The Goldman Sachs Group boosted their price target on shares of Aurora Innovation from $4.00 to $5.00 and gave the company a “neutral” rating in a report on Friday, April 17th. Finally, Wall Street Zen lowered shares of Aurora Innovation from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $11.43.

Aurora Innovation Trading Up 3.8%

Shares of AUR stock opened at $7.07 on Friday. Aurora Innovation has a 1 year low of $3.60 and a 1 year high of $8.56. The firm’s fifty day simple moving average is $5.52 and its 200 day simple moving average is $4.75. The firm has a market capitalization of $13.87 billion, a P/E ratio of -16.07 and a beta of 2.58.

Aurora Innovation (NASDAQ:AUR) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.01. The firm had revenue of $1.00 million for the quarter, compared to analyst estimates of $0.97 million. Aurora Innovation had a negative net margin of 20,775.00% and a negative return on equity of 40.45%. The business’s revenue for the quarter was down 66.7% compared to the same quarter last year. Equities research analysts anticipate that Aurora Innovation will post -0.46 EPS for the current fiscal year.

Insider Activity at Aurora Innovation

In other news, Director Reid Hoffman sold 1,202,354 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $7.27, for a total value of $8,741,113.58. The sale was disclosed in a filing with the SEC, which is available at this link. In the last 90 days, insiders have sold 7,048,487 shares of company stock valued at $54,295,119. 8.52% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Aurora Innovation

Several institutional investors and hedge funds have recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. boosted its stake in shares of Aurora Innovation by 6.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 274,809,541 shares of the company’s stock valued at $1,055,269,000 after purchasing an additional 16,933,373 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Aurora Innovation by 12.5% in the 4th quarter. Vanguard Group Inc. now owns 160,567,323 shares of the company’s stock valued at $616,579,000 after purchasing an additional 17,818,179 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of Aurora Innovation by 35.9% in the 3rd quarter. Capital Research Global Investors now owns 71,298,585 shares of the company’s stock valued at $384,299,000 after purchasing an additional 18,820,542 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Aurora Innovation by 130.0% in the 1st quarter. Bank of America Corp DE now owns 30,036,169 shares of the company’s stock valued at $123,749,000 after purchasing an additional 16,975,927 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Aurora Innovation by 7.5% in the 4th quarter. Geode Capital Management LLC now owns 21,488,433 shares of the company’s stock valued at $82,535,000 after purchasing an additional 1,498,515 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 is a technology company specializing in the development of self-driving vehicle systems for both passenger and commercial applications. Headquartered in Mountain View, California, Aurora has built an end-to-end platform—known as the Aurora Driver—that integrates proprietary software, machine learning algorithms and a suite of sensors (LiDAR, radar and cameras) to enable vehicles to operate safely and efficiently in diverse driving environments.

The company’s core business revolves around designing, testing and deploying its autonomy stack on vehicles from established automotive and transportation partners.