Aurora Innovation (NASDAQ:AUR) Stock Price Down 6.4% - What's Next?

Shares of Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report) traded down 6.4% during mid-day trading on Wednesday . The stock traded as low as $8.94 and last traded at $8.86. 1,097,471 shares were traded during trading, a decline of 93% from the average session volume of 16,360,346 shares. The stock had previously closed at $9.47.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Cantor Fitzgerald reissued an "overweight" rating and set a $10.00 price objective on shares of Aurora Innovation in a report on Thursday, February 13th. TD Cowen boosted their price objective on shares of Aurora Innovation from $3.00 to $4.00 and gave the company a "hold" rating in a report on Thursday, October 31st. The Goldman Sachs Group upped their price target on shares of Aurora Innovation from $2.00 to $2.50 and gave the company a "sell" rating in a report on Monday, November 4th. Evercore ISI upped their price target on shares of Aurora Innovation from $5.00 to $6.00 and gave the company an "in-line" rating in a report on Tuesday. Finally, Canaccord Genuity Group upped their price objective on shares of Aurora Innovation from $7.00 to $10.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $6.50.

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Aurora Innovation Stock Performance

The firm's 50 day moving average is $7.29 and its 200-day moving average is $6.04. The company has a market cap of $12.92 billion, a PE ratio of -15.80 and a beta of 2.85.

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. On average, analysts predict that Aurora Innovation, Inc. will post -0.49 EPS for the current year.

Insiders Place Their Bets

In other news, Director Gloria R. Boyland sold 30,000 shares of the firm's stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $6.30, for a total value of $189,000.00. Following the sale, the director now directly owns 344,647 shares in the company, valued at approximately $2,171,276.10. This trade represents a 8.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 13.83% of the stock is owned by company insiders.

Institutional Investors Weigh In On Aurora Innovation

Several hedge funds and other institutional investors have recently bought and sold shares of AUR. JPMorgan Chase & Co. boosted its holdings in shares of Aurora Innovation by 40.1% in the third 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 position in Aurora Innovation by 229.4% during the third quarter. Citigroup Inc. now owns 705,181 shares of the company's stock worth $4,175,000 after acquiring an additional 491,125 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Aurora Innovation by 26.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,424,827 shares of the company's stock worth $49,875,000 after acquiring an additional 1,776,513 shares during the last quarter. Sterling Investment Advisors Ltd. acquired a new position in shares of Aurora Innovation in the third quarter valued at approximately $1,184,000. Finally, State Street Corp raised its position in shares of Aurora Innovation by 15.2% in the third quarter. State Street Corp now owns 22,183,252 shares of the company's stock valued at $131,325,000 after buying an additional 2,920,653 shares during the last quarter. 44.71% of the stock is currently owned by institutional investors and hedge funds.

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.