Morgan Stanley Begins Coverage on Aurora Innovation (NASDAQ:AUR)

Morgan Stanley started coverage on shares of Aurora Innovation (NASDAQ:AUR) in a research note issued to investors on Monday morning, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $12.00 target price on the stock.

AUR has been the subject of a number of other research reports. 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 report on Tuesday, February 18th. The Goldman Sachs Group increased their price target on Aurora Innovation from $2.00 to $2.50 and gave the company a “sell” rating in a research note on Monday, November 4th. Canaccord Genuity Group upped their price target on shares of Aurora Innovation from $7.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price target on shares of Aurora Innovation in a research note on Thursday, February 13th. Finally, Wolfe Research initiated coverage on shares of Aurora Innovation in a research note on Tuesday, November 26th. They set a “peer perform” rating for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $7.42.

Aurora Innovation Stock Performance

AUR opened at $6.94 on Monday. Aurora Innovation has a 52-week low of $2.10 and a 52-week high of $10.77. The business’s 50-day simple moving average is $7.24 and its 200 day simple moving average is $6.20. The firm has a market capitalization of $12.08 billion, a PE ratio of -14.77 and a beta of 2.85.

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

Institutional Trading of Aurora Innovation

A number of hedge funds and other institutional investors have recently bought and sold shares of AUR. Uber Technologies Inc acquired a new position in Aurora Innovation during the 4th quarter valued at about $2,053,632,000. Toyota Motor Corp purchased a new stake in shares of Aurora Innovation during the 4th quarter worth approximately $298,294,000. Baillie Gifford & Co. raised its stake in shares of Aurora Innovation by 17.2% in the third quarter. Baillie Gifford & Co. now owns 84,904,647 shares of the company’s stock valued at $502,636,000 after buying an additional 12,466,085 shares during the period. Lightspeed Management Company L.L.C. bought a new stake in Aurora Innovation in the 4th quarter valued at about $74,003,000. Finally, FMR LLC lifted its stake in shares of Aurora Innovation by 206.1% during the 3rd 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 in the last quarter. 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.