Aurora Innovation (NASDAQ:AUR) Now Covered by Craig Hallum

Equities researchers at Craig Hallum assumed coverage on shares of Aurora Innovation (NASDAQ:AUR) in a report issued on Friday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $18.00 price target on the stock. Craig Hallum’s price objective suggests a potential upside of 163.16% from the stock’s current price.

A number of other equities analysts have also recently commented on the stock. The Goldman Sachs Group lifted their price objective on shares of Aurora Innovation from $4.00 to $5.00 and gave the stock a “neutral” rating in a research report on Friday, April 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aurora Innovation in a research report on Monday, April 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $13.00 price objective on shares of Aurora Innovation in a research report on Thursday, May 7th. Morgan Stanley reaffirmed an “overweight” rating and set a $14.00 price objective on shares of Aurora Innovation in a research report on Thursday, May 7th. Finally, TD Cowen lifted their price objective on shares of Aurora Innovation from $4.70 to $7.00 and gave the stock a “hold” rating in a research report on Thursday, May 7th. Seven analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $12.25.

Aurora Innovation Trading Down 1.6%

NASDAQ:AUR opened at $6.84 on Friday. Aurora Innovation has a 1-year low of $3.60 and a 1-year high of $8.56. The firm has a fifty day simple moving average of $5.83 and a 200 day simple moving average of $4.86. The stock has a market capitalization of $13.41 billion, a PE ratio of -15.55 and a beta of 2.62.

Aurora Innovation (NASDAQ:AUR) last released its earnings results on Wednesday, May 6th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.01. Aurora Innovation had a negative net margin of 20,775.00% and a negative return on equity of 40.45%. The business had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $0.97 million. Aurora Innovation’s quarterly revenue was down 66.7% compared to the same quarter last year. On average, equities analysts predict that Aurora Innovation will post -0.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Aurora Innovation

In other news, Director Reid Hoffman sold 1,202,354 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $7.27, for a total transaction of $8,741,113.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have sold 7,048,487 shares of company stock worth $54,295,119. Corporate insiders own 8.52% of the company’s stock.

Institutional Trading of Aurora Innovation

A number of institutional investors and hedge funds have recently made changes to their positions in AUR. Capital Research Global Investors lifted its holdings in shares of Aurora Innovation by 35.9% during the 3rd quarter. Capital Research Global Investors now owns 71,298,585 shares of the company’s stock worth $384,299,000 after acquiring an additional 18,820,542 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Aurora Innovation by 12.5% during the 4th quarter. Vanguard Group Inc. now owns 160,567,323 shares of the company’s stock worth $616,579,000 after acquiring an additional 17,818,179 shares during the period. Bank of America Corp DE lifted its holdings in shares of Aurora Innovation by 130.0% during the 1st quarter. Bank of America Corp DE now owns 30,036,169 shares of the company’s stock worth $123,749,000 after acquiring an additional 16,975,927 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Aurora Innovation by 6.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 274,809,541 shares of the company’s stock worth $1,055,269,000 after acquiring an additional 16,933,373 shares during the period. Finally, Janus Henderson Group PLC raised its stake in Aurora Innovation by 2,068.8% during the first quarter. Janus Henderson Group PLC now owns 11,243,080 shares of the company’s stock worth $46,319,000 after acquiring an additional 10,724,682 shares in the last quarter. Institutional investors own 44.71% of the company’s stock.

About Aurora Innovation

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.