Aurora Innovation (NASDAQ:AUR) Shares Up 6.6% – Time to Buy?

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

Analysts Set New Price Targets

Several analysts have recently weighed in on AUR shares. Wolfe Research started coverage on shares of Aurora Innovation in a research report on Tuesday, November 26th. They set a “peer perform” rating on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 target price on shares of Aurora Innovation in a report on Thursday, February 13th. Canaccord Genuity Group increased their target price on shares of Aurora Innovation from $7.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Morgan Stanley initiated coverage on shares of Aurora Innovation in a report on Monday, March 3rd. They set an “overweight” rating and a $12.00 target price on the stock. Finally, TD Cowen initiated coverage on shares of Aurora Innovation in a report on Friday, March 7th. They set a “hold” rating and a $8.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $8.08.

Aurora Innovation Stock Performance

The company’s 50-day moving average price is $7.23 and its 200 day moving average price is $6.43. The stock has a market capitalization of $12.91 billion, a PE ratio of -15.87 and a beta of 2.82.

Aurora Innovation (NASDAQ:AUR) last posted its earnings results on Wednesday, February 12th. The company reported ($0.11) EPS for the quarter. Analysts expect that Aurora Innovation, Inc. will post -0.49 earnings per share for the current year.

Institutional Trading of Aurora Innovation

Large investors have recently made changes to their positions in the stock. Victory Capital Management Inc. grew its position in Aurora Innovation by 9.9% during the third quarter. Victory Capital Management Inc. now owns 112,291 shares of the company’s stock valued at $665,000 after buying an additional 10,092 shares during the period. KBC Group NV lifted its holdings in shares of Aurora Innovation by 41.1% in the third quarter. KBC Group NV now owns 26,092 shares of the company’s stock worth $154,000 after buying an additional 7,595 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Aurora Innovation by 7.9% in the third quarter. Swiss National Bank now owns 1,504,400 shares of the company’s stock worth $8,906,000 after buying an additional 109,500 shares in the last quarter. Drive Wealth Management LLC purchased a new position in shares of Aurora Innovation in the third quarter worth $94,000. Finally, Intech Investment Management LLC purchased a new position in shares of Aurora Innovation in the third quarter worth $1,071,000. 44.71% of the stock is currently owned by institutional investors.

Aurora Innovation Company Profile

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.