Aurora Innovation (NASDAQ:AUR) Shares Gap Up - Should You Buy?

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report) shares gapped up prior to trading on Friday . The stock had previously closed at $6.26, but opened at $6.55. Aurora Innovation shares last traded at $6.82, with a volume of 2,929,992 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on AUR shares. Morgan Stanley assumed coverage on shares of Aurora Innovation in a research report on Monday, March 3rd. They set an "overweight" rating and a $12.00 price objective on the stock. TD Cowen began coverage on Aurora Innovation in a research note on Friday, March 7th. They issued a "hold" rating and a $8.00 price target for the company. Cantor Fitzgerald restated an "overweight" rating and set a $10.00 price target on shares of Aurora Innovation in a report on Thursday, February 13th. Wolfe Research initiated coverage on shares of Aurora Innovation in a research note on Tuesday, November 26th. They issued a "peer perform" rating for the company. Finally, Evercore ISI raised their target price on shares of 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 issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $8.08.

Aurora Innovation Trading Up 11.3 %

The firm's fifty day moving average price is $7.25 and its 200-day moving average price is $6.38. The company has a market cap of $12.13 billion, a P/E ratio of -14.83 and a beta of 2.82.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in shares of 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 buying an additional 394,933 shares in the last quarter. Citigroup Inc. raised its position in Aurora Innovation by 229.4% in the third quarter. Citigroup Inc. now owns 705,181 shares of the company's stock worth $4,175,000 after purchasing an additional 491,125 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Aurora Innovation by 26.7% in the third 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 during the period. ARK Investment Management LLC grew 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 purchasing an additional 312,144 shares during the last quarter. Finally, State Street Corp lifted its holdings in Aurora Innovation by 15.2% during the 3rd quarter. State Street Corp now owns 22,183,252 shares of the company's stock valued at $131,325,000 after purchasing an additional 2,920,653 shares during the last quarter. 44.71% of the stock is 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.