Aurora Innovation (NASDAQ:AUR) Shares Gap Up – Here’s Why

Shares of Aurora Innovation, Inc. (NASDAQ:AUR) gapped up before the market opened 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.

Analyst Ratings Changes

A number of research firms recently weighed in on AUR. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price target on shares of Aurora Innovation in a research note on Thursday, February 13th. Morgan Stanley initiated coverage on Aurora Innovation in a research note on Monday, March 3rd. They set an “overweight” rating and a $12.00 price target on the stock. Evercore ISI increased their price objective on Aurora Innovation from $5.00 to $6.00 and gave the stock an “in-line” rating in a research note on Tuesday, February 18th. Wolfe Research initiated coverage on Aurora Innovation in a research note on Tuesday, November 26th. They issued a “peer perform” rating for the company. Finally, TD Cowen initiated coverage on Aurora Innovation in a research note on Friday, March 7th. They issued a “hold” rating and a $8.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $8.08.

Aurora Innovation Price Performance

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

Aurora Innovation (NASDAQ:AUR) last announced its quarterly earnings data on Wednesday, February 12th. The company reported ($0.11) earnings per share for the quarter. On average, research analysts forecast that Aurora Innovation, Inc. will post -0.49 EPS for the current year.

Hedge Funds Weigh In On Aurora Innovation

Institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in shares of 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 acquiring an additional 394,933 shares in the last quarter. Citigroup Inc. lifted its position in shares of 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of 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 in the last quarter. ARK Investment Management LLC lifted its position in shares of Aurora Innovation by 14.9% during the fourth quarter. ARK Investment Management LLC now owns 2,412,353 shares of the company’s stock worth $15,198,000 after acquiring an additional 312,144 shares in the last quarter. 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 worth $131,325,000 after buying an additional 2,920,653 shares in 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.