Short Interest in Aurora Innovation, Inc. (NASDAQ:AUR) Declines By 6.4%

Aurora Innovation, Inc. (NASDAQ:AUR) saw a large drop in short interest in October. As of October 31st, there was short interest totalling 83,910,000 shares, a drop of 6.4% from the October 15th total of 89,600,000 shares. Approximately 8.9% of the company’s stock are short sold. Based on an average daily volume of 8,710,000 shares, the short-interest ratio is currently 9.6 days.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on AUR shares. TD Cowen upped their price objective on shares of Aurora Innovation from $3.00 to $4.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Canaccord Genuity Group reissued a “buy” rating and issued a $7.00 price target on shares of Aurora Innovation in a research report on Monday, September 30th. The Goldman Sachs Group upped their price objective on shares of Aurora Innovation from $2.00 to $2.50 and gave the stock a “sell” rating in a report on Monday, November 4th. Finally, Evercore ISI lifted their target price 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.

Insider Transactions at Aurora Innovation

In other Aurora Innovation news, Director Reid Hoffman sold 3,500,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $5.58, for a total value of $19,530,000.00. Following the completion of the sale, the director now directly owns 382,425 shares of the company’s stock, valued at $2,133,931.50. The trade was a 90.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold 8,208,830 shares of company stock valued at $45,295,991 in the last three months. Corporate insiders own 13.83% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Sterling Investment Advisors Ltd. bought a new position in Aurora Innovation in the 3rd quarter valued at $1,184,000. Vanguard Group Inc. raised its holdings in shares of Aurora Innovation by 1.5% in the first 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. Creative Planning acquired a new position in Aurora Innovation during the 3rd quarter worth about $652,000. The Manufacturers Life Insurance Company grew its holdings in Aurora Innovation by 67.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 500,535 shares of the company’s stock worth $1,386,000 after acquiring an additional 202,413 shares during the last quarter. Finally, Empowered Funds LLC increased its position in Aurora Innovation by 44.1% in the 1st quarter. Empowered Funds LLC now owns 17,597 shares of the company’s stock valued at $50,000 after acquiring an additional 5,386 shares in the last quarter. 44.71% of the stock is owned by institutional investors and hedge funds.

Aurora Innovation Stock Down 7.2 %

NASDAQ:AUR opened at $4.99 on Monday. The firm has a market cap of $8.57 billion, a PE ratio of -10.18 and a beta of 2.82. The company’s 50-day moving average price is $5.58 and its two-hundred day moving average price is $4.09. Aurora Innovation has a 12 month low of $2.04 and a 12 month high of $7.01.

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.