Aurora Innovation (NASDAQ:AUR) Trading Down 12.3% - Here's Why

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report)'s stock price was down 12.3% on Monday . The stock traded as low as $6.23 and last traded at $6.23. Approximately 8,191,315 shares traded hands during trading, a decline of 49% from the average daily volume of 15,962,853 shares. The stock had previously closed at $7.10.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Cantor Fitzgerald restated an "overweight" rating and issued a $10.00 target price on shares of Aurora Innovation in a research note on Thursday, February 13th. TD Cowen assumed coverage on Aurora Innovation in a research note on Friday, March 7th. They issued a "hold" rating and a $8.00 target price on the stock. Wolfe Research assumed coverage on Aurora Innovation in a research note on Tuesday, November 26th. They issued a "peer perform" rating on the stock. Canaccord Genuity Group boosted their target price 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, Evercore ISI boosted their target price on Aurora Innovation from $5.00 to $6.00 and gave the company an "in-line" rating in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Aurora Innovation has a consensus rating of "Hold" and an average price target of $8.08.

Aurora Innovation Trading Up 10.9 %

The firm has a market cap of $12.09 billion, a price-to-earnings ratio of -14.73 and a beta of 2.82. The firm has a 50-day moving average of $7.24 and a two-hundred day moving average of $6.35.

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Aurora Innovation (NASDAQ:AUR - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported ($0.11) earnings per share for the quarter. As a group, equities analysts anticipate that Aurora Innovation, Inc. will post -0.49 EPS for the current year.

Hedge Funds Weigh In On Aurora Innovation

Large investors have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its holdings in Aurora Innovation by 40.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,380,479 shares of the company's stock valued at $8,172,000 after acquiring an additional 394,933 shares in the last quarter. Citigroup Inc. raised its holdings in Aurora Innovation by 229.4% in the 3rd quarter. Citigroup Inc. now owns 705,181 shares of the company's stock valued at $4,175,000 after acquiring an additional 491,125 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Aurora Innovation by 26.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,424,827 shares of the company's stock valued at $49,875,000 after acquiring an additional 1,776,513 shares in the last quarter. ARK Investment Management LLC raised its holdings in shares of Aurora Innovation by 14.9% in the 4th quarter. ARK Investment Management LLC now owns 2,412,353 shares of the company's stock worth $15,198,000 after buying an additional 312,144 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Aurora Innovation by 15.2% in the 3rd quarter. State Street Corp now owns 22,183,252 shares of the company's stock worth $131,325,000 after buying an additional 2,920,653 shares in the last quarter. Institutional investors and hedge funds own 44.71% of the company's stock.

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.