Aurora Innovation (NASDAQ:AUR) Stock Price Down 12.3% - Time to Sell?

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report)'s share price dropped 12.3% during trading on Monday . The company traded as low as $6.23 and last traded at $6.23. Approximately 8,191,315 shares changed 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 Ratings Changes

AUR has been the subject of a number of research reports. Morgan Stanley initiated coverage on Aurora Innovation in a research report on Monday, March 3rd. They set an "overweight" rating and a $12.00 price objective for the company. TD Cowen initiated coverage on Aurora Innovation in a research report on Friday, March 7th. They set a "hold" rating and a $8.00 price objective for the company. Canaccord Genuity Group upped their price objective on Aurora Innovation from $7.00 to $10.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Evercore ISI upped their price target on Aurora Innovation from $5.00 to $6.00 and gave the stock an "in-line" rating in a research report on Tuesday, February 18th. Finally, Wolfe Research assumed coverage on Aurora Innovation in a research report on Tuesday, November 26th. They issued a "peer perform" rating for the company. One equities 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. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $8.08.

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Aurora Innovation Price Performance

The business has a 50-day simple moving average of $7.25 and a 200 day simple moving average of $6.38. The firm has a market cap of $12.13 billion, a PE ratio of -14.83 and a beta of 2.82.

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

Institutional Trading of Aurora Innovation

Several institutional investors have recently made changes to their positions in AUR. Uber Technologies Inc purchased a new stake in shares of Aurora Innovation during the fourth quarter worth about $2,053,632,000. Toyota Motor Corp bought a new position in Aurora Innovation during the fourth quarter valued at approximately $298,294,000. Lightspeed Management Company L.L.C. bought a new position in Aurora Innovation during the fourth quarter valued at approximately $74,003,000. FMR LLC boosted its stake in Aurora Innovation by 206.1% during the third quarter. FMR LLC now owns 13,848,530 shares of the company's stock valued at $81,983,000 after buying an additional 9,325,013 shares during the last quarter. Finally, Norges Bank bought a new position in Aurora Innovation during the fourth quarter valued at approximately $45,772,000. Hedge funds and other institutional investors own 44.71% of the company's stock.

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.