Aurora Innovation (NASDAQ:AUR) Stock Price Up 6.6% – Should You Buy?

Aurora Innovation, Inc. (NASDAQ:AUR)’s share price rose 6.6% during mid-day trading on Wednesday . The company traded as high as $7.37 and last traded at $7.40. Approximately 3,729,801 shares were traded during trading, a decline of 66% from the average daily volume of 10,974,224 shares. The stock had previously closed at $6.94.

Wall Street Analysts Forecast Growth

AUR has been the topic of a number of analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 price objective on shares of Aurora Innovation in a research note on Thursday, February 13th. TD Cowen began coverage on Aurora Innovation in a research note on Friday, March 7th. They set a “hold” rating and a $8.00 price objective on the stock. Morgan Stanley began coverage on Aurora Innovation in a research note on Monday, March 3rd. They issued an “overweight” rating and a $12.00 price target on the stock. Canaccord Genuity Group increased their price target on Aurora Innovation from $7.00 to $10.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Finally, Wolfe Research began coverage on Aurora Innovation in a research note on Tuesday, November 26th. They issued a “peer perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $8.08.

Aurora Innovation Stock Performance

The business has a fifty day simple moving average of $7.20 and a 200 day simple moving average of $6.45. The stock has a market capitalization of $12.64 billion, a price-to-earnings ratio of -15.22 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) EPS for the quarter. On average, sell-side analysts forecast that Aurora Innovation, Inc. will post -0.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System grew its holdings in shares of Aurora Innovation by 18.3% during the 4th quarter. California State Teachers Retirement System now owns 876,364 shares of the company’s stock worth $5,521,000 after purchasing an additional 135,266 shares in the last quarter. Castle Rock Wealth Management LLC acquired a new stake in shares of Aurora Innovation during the 4th quarter worth $721,000. Mackenzie Financial Corp grew its holdings 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 worth $278,000 after purchasing an additional 33,456 shares in the last quarter. GTS Securities LLC grew its holdings in shares of Aurora Innovation by 46.9% during the 4th quarter. GTS Securities LLC now owns 20,071 shares of the company’s stock worth $126,000 after purchasing an additional 6,407 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Aurora Innovation by 41.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,918,807 shares of the company’s stock worth $12,088,000 after purchasing an additional 564,227 shares in the last quarter. 44.71% of the stock is owned by institutional investors and hedge funds.

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.