Aurora Innovation (NASDAQ:AUR) Stock Price Up 7.5% After Analyst Upgrade

Aurora Innovation, Inc. (NASDAQ:AUR) shot up 7.5% on Friday after TD Cowen raised their price target on the stock from $3.00 to $4.00. TD Cowen currently has a hold rating on the stock. Aurora Innovation traded as high as $5.63 and last traded at $5.59. 5,033,494 shares traded hands during mid-day trading, a decline of 41% from the average session volume of 8,580,656 shares. The stock had previously closed at $5.20.

Other equities research analysts have also issued reports about the stock. Canaccord Genuity Group reiterated a “buy” rating and set a $7.00 target price on shares of Aurora Innovation in a research report on Monday, September 30th. Evercore ISI lifted their price objective on shares of Aurora Innovation from $3.00 to $5.00 and gave the stock an “in-line” rating in a report on Monday, October 14th.

Institutional Trading of Aurora Innovation

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Aurora Innovation by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 84,784,550 shares of the company’s stock valued at $239,092,000 after buying an additional 1,267,962 shares during the last quarter. Baillie Gifford & Co. raised its stake in shares of Aurora Innovation by 78.4% during the second quarter. Baillie Gifford & Co. now owns 72,438,562 shares of the company’s stock valued at $200,655,000 after acquiring an additional 31,841,994 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Aurora Innovation by 23.1% during the second quarter. Dimensional Fund Advisors LP now owns 13,337,429 shares of the company’s stock worth $36,941,000 after purchasing an additional 2,502,002 shares during the period. Primecap Management Co. CA grew its stake in shares of Aurora Innovation by 1.0% in the second quarter. Primecap Management Co. CA now owns 10,217,700 shares of the company’s stock worth $28,303,000 after purchasing an additional 102,800 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Aurora Innovation by 273.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,190,426 shares of the company’s stock valued at $14,377,000 after purchasing an additional 3,800,901 shares during the period. 44.71% of the stock is currently owned by hedge funds and other institutional investors.

Aurora Innovation Stock Performance

The business has a 50-day simple moving average of $5.33 and a 200 day simple moving average of $3.88. The firm has a market cap of $9.11 billion, a P/E ratio of -11.61 and a beta of 2.80.

Aurora Innovation (NASDAQ:AUR) last announced its earnings results on Wednesday, October 30th. The company reported ($0.13) earnings per share for the quarter.

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.