Aurora Innovation (NASDAQ:AUR) Raised to Hold at Zacks Research

Aurora Innovation (NASDAQ:AUR) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks reports.

Several other research firms have also weighed in on AUR. Morgan Stanley boosted their price target on Aurora Innovation from $14.00 to $18.00 and gave the stock an “overweight” rating in a research report on Friday, September 11th. Wall Street Zen downgraded Aurora Innovation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 1st. Needham & Company LLC cut their price objective on Aurora Innovation from $13.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, October 29th. Northland Securities set a $10.00 target price on shares of Aurora Innovation in a research note on Thursday, October 29th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Aurora Innovation in a research note on Thursday, October 15th. Eight analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $12.56.

Aurora Innovation Stock Up 1.1%

NASDAQ:AUR opened at $4.60 on Tuesday. Aurora Innovation has a 52-week low of $3.60 and a 52-week high of $8.56. The stock’s 50-day simple moving average is $5.47 and its 200 day simple moving average is $5.60.

Aurora Innovation (NASDAQ:AUR) last issued its quarterly earnings results on Wednesday, October 28th. The company reported ($0.12) EPS for the quarter, meeting the consensus estimate of ($0.12). Aurora Innovation had a negative return on equity of 48.39% and a negative net margin of 13,328.57%. The firm had revenue of $3.00 million during the quarter, compared to analysts’ expectations of $2.99 million. The firm’s revenue for the quarter was up 200.0% compared to the same quarter last year. On average, analysts expect that Aurora Innovation will post -0.48 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Michelangelo Volpi sold 2,842,682 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $7.00, for a total value of $19,898,774.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 8.52% of the company’s stock.

Institutional Investors Weigh In On Aurora Innovation

Hedge funds have recently bought and sold shares of the company. Bank of America Corp DE grew its holdings in Aurora Innovation by 130.0% during the first quarter. Bank of America Corp DE now owns 30,036,169 shares of the company’s stock worth $123,749,000 after purchasing an additional 16,975,927 shares during the period. State Street Corp raised its stake in Aurora Innovation by 6.0% in the second quarter. State Street Corp now owns 22,922,729 shares of the company’s stock valued at $156,333,000 after buying an additional 1,293,487 shares during the period. Dimensional Fund Advisors LP raised its stake in Aurora Innovation by 4.3% in the first quarter. Dimensional Fund Advisors LP now owns 11,807,009 shares of the company’s stock valued at $48,621,000 after buying an additional 490,659 shares during the period. Janus Henderson Group PLC lifted its position in shares of Aurora Innovation by 2,068.8% in the first quarter. Janus Henderson Group PLC now owns 11,243,080 shares of the company’s stock valued at $46,319,000 after buying an additional 10,724,682 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new stake in shares of Aurora Innovation in the second quarter valued at approximately $25,893,000. 44.71% of the stock is currently owned by institutional investors and hedge funds.

Aurora Innovation Company Profile

Aurora Innovation, Inc. develops autonomous vehicle technology through its Aurora Driver platform, which combines self-driving software, sensors and computing hardware. The system is designed for use in commercial trucking and passenger mobility applications. Founded in 2017 by Chris Urmson, Sterling Anderson and Drew Bagnell, the company is headquartered in Pittsburgh, Pennsylvania. Aurora has focused on autonomous freight transportation in the United States, including development and testing of self-driving truck operations.