Aurora Innovation (NASDAQ:AUR) Shares Gap Up - Here's Why

Shares of Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report) 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 research analysts recently commented on the company. Wolfe Research started coverage on Aurora Innovation in a research report on Tuesday, November 26th. They set a "peer perform" rating on the stock. TD Cowen assumed coverage on Aurora Innovation in a report on Friday, March 7th. They set a "hold" rating and a $8.00 price target on the stock. Evercore ISI lifted their price objective 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. Morgan Stanley started coverage on shares of Aurora Innovation in a research report on Monday, March 3rd. They set an "overweight" rating and a $12.00 target price on the stock. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $10.00 price target on shares of Aurora Innovation in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Aurora Innovation presently has an average rating of "Hold" and a consensus price target of $8.08.

Aurora Innovation Trading Up 11.3 %

The firm's 50-day moving average is $7.25 and its 200-day moving average is $6.38. The firm has a market cap of $12.13 billion, a price-to-earnings ratio of -14.83 and a beta of 2.82.

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

Institutional Trading of Aurora Innovation

Several institutional investors and hedge funds have recently modified their holdings of AUR. JPMorgan Chase & Co. grew its holdings in Aurora Innovation by 40.1% during the third quarter. JPMorgan Chase & Co. now owns 1,380,479 shares of the company's stock worth $8,172,000 after buying an additional 394,933 shares in the last quarter. Citigroup Inc. boosted its holdings in Aurora Innovation by 229.4% during the 3rd 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. grew its stake in shares of 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 worth $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 fourth quarter. ARK Investment Management LLC now owns 2,412,353 shares of the company's stock valued at $15,198,000 after purchasing an additional 312,144 shares during the last quarter. Finally, State Street Corp lifted its position in shares of Aurora Innovation by 15.2% during the third 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 in the last quarter. 44.71% of the stock is owned by hedge funds and other 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.