Aurora Innovation (NASDAQ:AUR) Shares Up 7.7% – Time to Buy?

Shares of Aurora Innovation, Inc. (NASDAQ:AUR) traded up 7.7% during mid-day trading on Monday . The company traded as high as $6.28 and last traded at $6.12. 9,863,275 shares traded hands during mid-day trading, a decline of 13% from the average session volume of 11,318,971 shares. The stock had previously closed at $5.68.

Analysts Set New Price Targets

Several analysts have weighed in on AUR shares. Evercore ISI lifted their target price on Aurora Innovation from $5.00 to $6.00 and gave the company an “in-line” rating in a research note on Tuesday, February 18th. Oppenheimer assumed coverage on shares of Aurora Innovation in a report on Thursday, March 27th. They issued an “outperform” rating and a $15.00 price objective for the company. Morgan Stanley initiated coverage on shares of Aurora Innovation in a research note on Monday, March 3rd. They set an “overweight” rating and a $12.00 target price on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 price target on shares of Aurora Innovation in a research note on Thursday, February 13th. Finally, Canaccord Genuity Group raised their price objective on shares of Aurora Innovation from $7.00 to $10.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $9.07.

Aurora Innovation Price Performance

The stock has a market capitalization of $10.29 billion, a P/E ratio of -12.57 and a beta of 2.77. The stock’s fifty day moving average is $7.22 and its two-hundred day moving average is $6.67.

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

Institutional Trading of Aurora Innovation

Hedge funds have recently bought and sold shares of the company. Twin Tree Management LP raised its holdings in shares of Aurora Innovation by 217.2% during the fourth quarter. Twin Tree Management LP now owns 4,450 shares of the company’s stock valued at $28,000 after acquiring an additional 3,047 shares during the period. GPS Wealth Strategies Group LLC lifted its holdings in shares of 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 purchasing an additional 4,955 shares in the last quarter. Grimes & Company Inc. acquired a new stake in shares of Aurora Innovation in the fourth quarter worth $63,000. Yousif Capital Management LLC purchased a new position in shares of Aurora Innovation during the fourth quarter valued at $65,000. Finally, Avantax Advisory Services Inc. acquired a new position in Aurora Innovation during the fourth quarter valued at $65,000. 44.71% of the stock is owned by hedge funds and other institutional investors.

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.