Aurora Innovation (NASDAQ:AUR) Stock Price Up 6.6% – Should You Buy?

Aurora Innovation, Inc. (NASDAQ:AUR)’s stock price traded up 6.6% on Wednesday . The stock traded as high as $7.37 and last traded at $7.40. 3,729,801 shares were traded during mid-day trading, a decline of 66% from the average session volume of 10,974,224 shares. The stock had previously closed at $6.94.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Evercore ISI raised their price objective 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. TD Cowen assumed coverage on Aurora Innovation in a research note on Friday, March 7th. They issued a “hold” rating and a $8.00 price objective on the stock. Morgan Stanley assumed coverage on Aurora Innovation in a research note on Monday, March 3rd. They issued an “overweight” rating and a $12.00 price objective on the stock. Canaccord Genuity Group increased their target price on Aurora Innovation from $7.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 target price on shares of Aurora Innovation in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $8.08.

Aurora Innovation Price Performance

The company has a market capitalization of $12.64 billion, a P/E ratio of -15.22 and a beta of 2.82. The stock has a 50-day moving average price of $7.20 and a 200-day moving average price of $6.45.

Aurora Innovation (NASDAQ:AUR) last issued its quarterly earnings data on Wednesday, February 12th. The company reported ($0.11) earnings per share (EPS) for the quarter. Sell-side analysts anticipate that Aurora Innovation, Inc. will post -0.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Aurora Innovation

Hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System increased its holdings in Aurora Innovation by 18.3% in the fourth quarter. California State Teachers Retirement System now owns 876,364 shares of the company’s stock worth $5,521,000 after purchasing an additional 135,266 shares in the last quarter. Castle Rock Wealth Management LLC bought a new stake in Aurora Innovation in the fourth quarter worth approximately $721,000. Mackenzie Financial Corp increased its holdings in Aurora Innovation by 314.2% in the fourth quarter. Mackenzie Financial Corp now owns 44,104 shares of the company’s stock worth $278,000 after purchasing an additional 33,456 shares in the last quarter. GTS Securities LLC increased its holdings in Aurora Innovation by 46.9% in the fourth quarter. GTS Securities LLC now owns 20,071 shares of the company’s stock worth $126,000 after purchasing an additional 6,407 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Aurora Innovation by 41.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,918,807 shares of the company’s stock worth $12,088,000 after purchasing an additional 564,227 shares in the last quarter. 44.71% of the stock is currently owned by 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.