Aurora Innovation (NASDAQ:AUR) Trading 5.7% Higher – Here’s What Happened

Aurora Innovation, Inc. (NASDAQ:AUR)’s share price shot up 5.7% during trading on Thursday . The stock traded as high as $7.55 and last traded at $7.53. 8,589,804 shares changed hands during mid-day trading, a decline of 22% from the average session volume of 11,069,509 shares. The stock had previously closed at $7.12.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AUR. Morgan Stanley initiated coverage on Aurora Innovation in a research report on Monday, March 3rd. They set an “overweight” rating and a $12.00 target price for the company. Evercore ISI boosted 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 report on Tuesday, February 18th. 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 shares of Aurora Innovation in a research note on Friday, March 7th. They set a “hold” rating and a $8.00 price target for the company. Finally, Oppenheimer began coverage on Aurora Innovation in a research note on Thursday. They issued an “outperform” rating and a $15.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $9.07.

Aurora Innovation Stock Performance

The firm has a market capitalization of $13.01 billion, a PE ratio of -15.90 and a beta of 2.82. The stock has a fifty day moving average price of $7.27 and a 200-day moving average price of $6.55.

Aurora Innovation (NASDAQ:AUR) last announced its earnings results on Wednesday, February 12th. The company reported ($0.11) EPS for the quarter. Research analysts expect that Aurora Innovation, Inc. will post -0.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Aurora Innovation

Several institutional investors have recently bought and sold shares of the company. Twin Tree Management LP lifted its holdings in shares of Aurora Innovation by 217.2% during the 4th quarter. Twin Tree Management LP now owns 4,450 shares of the company’s stock valued at $28,000 after purchasing an additional 3,047 shares during the last quarter. GPS Wealth Strategies Group LLC raised its stake in Aurora Innovation by 241.7% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 7,005 shares of the company’s stock valued at $44,000 after buying an additional 4,955 shares during the last quarter. Grimes & Company Inc. acquired a new stake in Aurora Innovation in the fourth quarter worth about $63,000. Dynamic Technology Lab Private Ltd acquired a new stake in Aurora Innovation in the third quarter worth about $60,000. Finally, Yousif Capital Management LLC acquired a new position in shares of Aurora Innovation during the fourth quarter valued at about $65,000. 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.