Aurora Innovation (NASDAQ:AUR) Given Overweight Rating at Cantor Fitzgerald

Aurora Innovation (NASDAQ:AUR)‘s stock had its “overweight” rating reiterated by research analysts at Cantor Fitzgerald in a research report issued on Thursday,Benzinga reports. They currently have a $12.00 target price on the stock. Cantor Fitzgerald’s target price would suggest a potential upside of 80.37% from the company’s previous close.

AUR has been the subject of several other research reports. Needham & Company LLC restated a “buy” rating and issued a $13.00 price target on shares of Aurora Innovation in a research note on Thursday, May 7th. Craig Hallum assumed coverage on Aurora Innovation in a report on Friday, June 5th. They issued a “buy” rating and a $18.00 price objective on the stock. Wall Street Zen cut Aurora Innovation from a “hold” rating to a “sell” rating in a research report on Sunday, April 26th. Morgan Stanley reiterated an “overweight” rating and set a $14.00 target price on shares of Aurora Innovation in a research report on Thursday, May 7th. Finally, Northland Securities assumed coverage on shares of Aurora Innovation in a research note on Friday, May 29th. They issued an “outperform” rating and a $11.00 price target on the stock. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $12.22.

Aurora Innovation Stock Performance

Shares of AUR stock opened at $6.65 on Thursday. The stock’s 50-day simple moving average is $6.61 and its 200-day simple moving average is $5.39. The firm has a market capitalization of $13.05 billion, a price-to-earnings ratio of -15.30 and a beta of 2.63. Aurora Innovation has a fifty-two week low of $3.60 and a fifty-two week high of $8.56.

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

Insiders Place Their Bets

In other news, Director David M. Wehner purchased 82,500 shares of the stock in a transaction dated Thursday, June 11th. The shares were purchased at an average price of $6.04 per share, with a total value of $498,300.00. Following the transaction, the director owned 246,519 shares in the company, valued at $1,488,974.76. The trade was a 50.30% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Reid Hoffman sold 1,202,354 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $7.27, for a total transaction of $8,741,113.58. The SEC filing for this sale provides additional information. Insiders sold a total of 7,048,487 shares of company stock valued at $54,295,119 over the last ninety days. Corporate insiders own 8.52% of the company’s stock.

Institutional Trading of Aurora Innovation

A number of hedge funds and other institutional investors have recently modified their holdings of AUR. Handelsbanken Fonder AB lifted its position in Aurora Innovation by 18.0% in the second quarter. Handelsbanken Fonder AB now owns 398,600 shares of the company’s stock valued at $2,718,000 after buying an additional 60,700 shares during the last quarter. FNY Investment Advisers LLC increased its holdings in Aurora Innovation by 20.2% in the 2nd quarter. FNY Investment Advisers LLC now owns 298,497 shares of the company’s stock valued at $2,035,000 after purchasing an additional 50,097 shares during the last quarter. GAMMA Investing LLC increased its holdings in Aurora Innovation by 79.7% in the 2nd quarter. GAMMA Investing LLC now owns 8,501 shares of the company’s stock valued at $58,000 after purchasing an additional 3,770 shares during the last quarter. Versant Capital Management Inc raised its position in Aurora Innovation by 964.9% in the second quarter. Versant Capital Management Inc now owns 8,019 shares of the company’s stock valued at $55,000 after purchasing an additional 7,266 shares during the period. Finally, CX Institutional raised its position in Aurora Innovation by 4,070.6% in the second quarter. CX Institutional now owns 17,850 shares of the company’s stock valued at $122,000 after purchasing an additional 17,422 shares during the period. 44.71% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Aurora Innovation

Here are the key news stories impacting Aurora Innovation this week:

• Positive Sentiment: Aurora announced a new second-generation driverless truck fleet, which could improve its ability to scale autonomous freight operations and support future revenue growth. Aurora announces new driverless truck fleet ahead of Q2 earnings – retail calls it a catalyst for upcoming momentum
• Positive Sentiment: The company said its new driverless hardware is helping it move toward scale faster, reinforcing the investment case around commercialization progress. Aurora races toward scale with new driverless hardware
• Positive Sentiment: Aurora rolled out next-generation driverless trucks for commercial freight, a sign that customer adoption and production scaling are advancing. Aurora Rolls Out Next Generation of Driverless Trucks for Commercial Freight
• Positive Sentiment: Reports that Aurora’s second-generation trucks are being launched in the U.S. to meet customer demand suggest stronger near-term operational momentum. Aurora Launches Second-Generation Driverless Trucks in U.S. to Meet Customer Demand
• Neutral Sentiment: Several additional articles echoed the same product rollout and expansion theme, increasing visibility but offering little new information beyond the hardware launch. Aurora Innovation Rises After Launch of Second-Generation Driverless Trucks

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.