Aurora Innovation (NASDAQ:AUR) Shares Gap Down – What’s Next?

Aurora Innovation, Inc. (NASDAQ:AUR)’s share price gapped down prior to trading on Monday . The stock had previously closed at $6.31, but opened at $6.09. Aurora Innovation shares last traded at $6.2150, with a volume of 11,332,149 shares.

Analyst Upgrades and Downgrades

AUR has been the subject of a number of analyst reports. Craig Hallum started coverage on shares of Aurora Innovation in a research note on Friday, June 5th. They set a “buy” rating and a $18.00 target price for the company. Northland Securities assumed coverage on shares of Aurora Innovation in a research report on Friday, May 29th. They set an “outperform” rating and a $11.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Aurora Innovation in a research note on Monday, April 20th. Wall Street Zen downgraded shares of Aurora Innovation from a “hold” rating to a “sell” rating in a research note on Sunday, April 26th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $14.00 price objective on shares of Aurora Innovation in a report on Thursday, May 7th. Seven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $12.25.

Aurora Innovation Stock Performance

The business has a fifty day moving average of $5.95 and a 200-day moving average of $4.91. The company has a market capitalization of $12.08 billion, a P/E ratio of -14.00 and a beta of 2.62.

Aurora Innovation (NASDAQ:AUR) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $0.97 million. The business’s revenue for the quarter was down 66.7% compared to the same quarter last year. Sell-side analysts anticipate that Aurora Innovation, Inc. will post -0.47 EPS for the current year.

Insider Activity at Aurora Innovation

In related news, Director Reid Hoffman sold 1,202,354 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $7.27, for a total value of $8,741,113.58. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders have sold 7,048,487 shares of company stock worth $54,295,119 over the last ninety days. Insiders own 8.52% of the company’s stock.

Institutional Trading of Aurora Innovation

Several institutional investors and hedge funds have recently modified their holdings of the stock. Garton & Associates Financial Advisors LLC bought a new stake in shares of Aurora Innovation in the fourth quarter valued at approximately $35,000. Danske Bank A S purchased a new position in Aurora Innovation in the 3rd quarter valued at approximately $36,000. Eurizon Capital SGR S.p.A. purchased a new position in Aurora Innovation in the 4th quarter valued at approximately $39,000. Stonebridge Financial Group LLC MO bought a new stake in Aurora Innovation during the 4th quarter valued at $40,000. Finally, Equitable Holdings Inc. purchased a new stake in shares of Aurora Innovation during the fourth quarter worth $41,000. 44.71% of the stock is owned by hedge funds and other institutional investors.

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.