Aurora Innovation (NASDAQ:AUR) Receives Buy Rating from Canaccord Genuity Group

Aurora Innovation (NASDAQ:AUR)‘s stock had its “buy” rating reaffirmed by Canaccord Genuity Group in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $7.00 price target on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 26.13% from the stock’s previous close.

Aurora Innovation Stock Down 6.3 %

Shares of Aurora Innovation stock opened at $5.55 on Monday. Aurora Innovation has a 52-week low of $1.60 and a 52-week high of $6.79. The company has a fifty day moving average of $4.35 and a 200-day moving average of $3.39.

Aurora Innovation (NASDAQ:AUR) last announced its quarterly earnings data on Wednesday, July 31st. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.01.

Institutional Investors Weigh In On Aurora Innovation

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AUR. Parallel Advisors LLC raised its holdings in Aurora Innovation by 91.9% during the 4th quarter. Parallel Advisors LLC now owns 7,100 shares of the company’s stock valued at $31,000 after buying an additional 3,400 shares during the last quarter. Blueshift Asset Management LLC bought a new position in Aurora Innovation in the 4th quarter worth $53,000. Cadian Capital Management LP bought a new position in Aurora Innovation in the 4th quarter worth $17,914,000. Foxhaven Asset Management LP bought a new position in Aurora Innovation in the 4th quarter worth $19,123,000. Finally, Vanguard Group Inc. raised its holdings in Aurora Innovation by 5.9% in the 4th quarter. Vanguard Group Inc. now owns 83,516,588 shares of the company’s stock worth $364,967,000 after purchasing an additional 4,625,559 shares in the last quarter. 44.71% of the stock is currently owned by institutional investors.

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.