Aurora Innovation (NASDAQ:AUR) Posts Earnings Results, Misses Expectations By $0.02 EPS

Aurora Innovation (NASDAQ:AUR) posted its earnings results on Wednesday. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02), FiscalAI reports. The firm had revenue of $2.00 million for the quarter, compared to analyst estimates of $1.66 million. Aurora Innovation had a negative return on equity of 40.45% and a negative net margin of 20,775.00%.

Aurora Innovation Stock Performance

Shares of Aurora Innovation stock traded down $0.23 during trading on Wednesday, reaching $5.98. The company had a trading volume of 33,279,142 shares, compared to its average volume of 23,468,385. The company has a market cap of $11.73 billion, a price-to-earnings ratio of -13.59 and a beta of 2.63. The firm’s fifty day moving average is $6.50 and its 200-day moving average is $5.44. Aurora Innovation has a fifty-two week low of $3.60 and a fifty-two week high of $8.56.

Analyst Ratings Changes

A number of equities analysts have weighed in on AUR shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Aurora Innovation in a research report on Friday, July 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $13.00 target price on shares of Aurora Innovation in a research report on Thursday, May 7th. TD Cowen increased their price target on Aurora Innovation from $4.70 to $7.00 and gave the company a “hold” rating in a report on Thursday, May 7th. Wall Street Zen downgraded Aurora Innovation from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $14.00 target price on shares of Aurora Innovation in a research report on Thursday, May 7th. Seven analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $12.22.

Insider Transactions at Aurora Innovation

In other news, Director David M. Wehner acquired 82,500 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were purchased at an average price of $6.04 per share, for a total transaction of $498,300.00. Following the completion of the purchase, the director directly owned 246,519 shares of the company’s stock, valued at $1,488,974.76. This represents a 50.30% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Reid Hoffman sold 5,498,487 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $7.81, for a total value of $42,943,183.47. Following the transaction, the director directly owned 77,500 shares in the company, valued at approximately $605,275. This represents a 98.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 7,048,487 shares of company stock valued at $54,295,119 over the last quarter. Insiders own 8.52% of the company’s stock.

Institutional Investors Weigh In On Aurora Innovation

Institutional investors and hedge funds have recently made changes to their positions in the company. Odyssean LLC acquired a new stake in shares of Aurora Innovation during the fourth quarter worth $97,000. Williams Jones Wealth Management LLC. bought a new position in shares of Aurora Innovation in the 3rd quarter worth about $92,000. National Bank of Canada FI boosted its holdings in shares of Aurora Innovation by 21.5% in the 3rd quarter. National Bank of Canada FI now owns 15,808 shares of the company’s stock valued at $85,000 after buying an additional 2,797 shares during the period. Cerity Partners LLC boosted its holdings in shares of Aurora Innovation by 20.1% in the 2nd quarter. Cerity Partners LLC now owns 14,686 shares of the company’s stock valued at $77,000 after buying an additional 2,458 shares during the period. Finally, Scotia Capital Inc. bought a new stake in shares of Aurora Innovation during the 3rd quarter valued at about $73,000. 44.71% of the stock is owned by institutional investors and hedge funds.

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.