Aurora Innovation (NASDAQ:AUR) Sees Large Volume Increase – Here’s Why

Aurora Innovation, Inc. (NASDAQ:AUR) saw unusually-strong trading volume on Monday . Approximately 4,100,765 shares were traded during trading, a decline of 52% from the previous session’s volume of 8,602,210 shares.The stock last traded at $5.33 and had previously closed at $5.81.

Analyst Ratings Changes

Several equities analysts have weighed in on AUR shares. Evercore ISI raised their target price on shares of Aurora Innovation from $3.00 to $5.00 and gave the company an “in-line” rating in a report on Monday, October 14th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $7.00 price target on shares of Aurora Innovation in a research note on Monday, September 30th. Finally, TD Cowen raised their price target on shares of Aurora Innovation from $3.00 to $4.00 and gave the stock a “hold” rating in a research note on Thursday.

Aurora Innovation Price Performance

The company’s 50-day moving average is $5.36 and its 200-day moving average is $3.92. The firm has a market capitalization of $8.46 billion, a price-to-earnings ratio of -10.88 and a beta of 2.82.

Institutional Investors Weigh In On Aurora Innovation

Hedge funds have recently modified their holdings of the stock. Sequoia Financial Advisors LLC acquired a new stake in shares of Aurora Innovation in the second quarter worth approximately $30,000. Profund Advisors LLC purchased a new stake in Aurora Innovation during the second quarter worth approximately $46,000. Empowered Funds LLC grew its stake in Aurora Innovation by 44.1% during the first quarter. Empowered Funds LLC now owns 17,597 shares of the company’s stock worth $50,000 after buying an additional 5,386 shares during the period. Vanguard Personalized Indexing Management LLC purchased a new stake in Aurora Innovation during the second quarter worth approximately $51,000. Finally, Diversified Portfolios Inc. purchased a new stake in Aurora Innovation during the second quarter worth approximately $54,000. 44.71% of the stock is owned by institutional investors and hedge funds.

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.