Aurora Innovation (NASDAQ:AUR) Shares Down 5.3% After Earnings Miss

Aurora Innovation, Inc. (NASDAQ:AUR) fell 5.3% during mid-day trading on Friday after the company announced weaker than expected quarterly earnings. The company traded as low as $7.51 and last traded at $7.34. 2,800,596 shares changed hands during trading, a decline of 81% from the average session volume of 14,819,634 shares. The stock had previously closed at $7.75.

The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.01).

Analyst Ratings Changes

AUR has been the topic of several research reports. The Goldman Sachs Group raised Aurora Innovation from a “sell” rating to a “neutral” rating and upped their price target for the company from $3.00 to $6.00 in a report on Thursday, April 10th. Evercore ISI boosted their target price on Aurora Innovation from $5.00 to $6.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 18th. Oppenheimer assumed coverage on Aurora Innovation in a research report on Thursday, March 27th. They issued an “outperform” rating and a $15.00 price target for the company. TD Cowen initiated coverage on Aurora Innovation in a report on Friday, March 7th. They set a “hold” rating and a $8.00 price objective on the stock. Finally, Needham & Company LLC raised their target price on shares of Aurora Innovation from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Friday. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Aurora Innovation presently has an average rating of “Moderate Buy” and an average target price of $10.63.

Institutional Trading of Aurora Innovation

Institutional investors have recently made changes to their positions in the stock. CoreCap Advisors LLC increased its position in Aurora Innovation by 15.0% in the 4th quarter. CoreCap Advisors LLC now owns 13,177 shares of the company’s stock worth $83,000 after purchasing an additional 1,717 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Aurora Innovation by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 35,587 shares of the company’s stock valued at $224,000 after acquiring an additional 1,723 shares during the last quarter. United Bank lifted its stake in Aurora Innovation by 17.0% in the first quarter. United Bank now owns 13,064 shares of the company’s stock valued at $88,000 after acquiring an additional 1,900 shares during the last quarter. Principal Financial Group Inc. grew its position in Aurora Innovation by 3.0% in the first quarter. Principal Financial Group Inc. now owns 70,652 shares of the company’s stock worth $475,000 after acquiring an additional 2,061 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of Aurora Innovation by 37.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,683 shares of the company’s stock worth $52,000 after purchasing an additional 2,085 shares during the last quarter. 44.71% of the stock is currently owned by institutional investors and hedge funds.

Aurora Innovation Trading Down 6.1 %

The business’s fifty day moving average price is $6.76 and its two-hundred day moving average price is $6.82. The firm has a market cap of $12.67 billion, a P/E ratio of -15.49 and a beta of 2.76.

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.