Aurora Innovation (NASDAQ:AUR) Price Target Raised to $6.00

Aurora Innovation (NASDAQ:AUR) had its price objective hoisted by Evercore ISI from $5.00 to $6.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “in-line” rating on the stock. Evercore ISI’s price objective suggests a potential downside of 35.29% from the company’s current price.

Several other equities research analysts have also recently issued reports on the company. TD Cowen raised their price objective on Aurora Innovation from $3.00 to $4.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Wolfe Research initiated coverage on Aurora Innovation in a research note on Tuesday, November 26th. They issued a “peer perform” rating on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price objective on shares of Aurora Innovation in a research note on Thursday, February 13th. Canaccord Genuity Group increased their price objective on shares of Aurora Innovation from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, The Goldman Sachs Group boosted their target price on shares of Aurora Innovation from $2.00 to $2.50 and gave the company a “sell” rating in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $6.50.

Aurora Innovation Price Performance

NASDAQ:AUR traded down $0.92 on Tuesday, reaching $9.27. The stock had a trading volume of 9,831,218 shares, compared to its average volume of 16,369,818. Aurora Innovation has a 12-month low of $2.10 and a 12-month high of $10.77. The company has a market cap of $15.93 billion, a price-to-earnings ratio of -18.89 and a beta of 2.85. The firm’s fifty day moving average is $7.19 and its two-hundred day moving average is $5.94.

Aurora Innovation (NASDAQ:AUR) last announced its quarterly earnings data on Wednesday, February 12th. The company reported ($0.11) earnings per share (EPS) for the quarter. As a group, research analysts forecast that Aurora Innovation will post -0.47 earnings per share for the current fiscal year.

Insider Transactions at Aurora Innovation

In related news, Director Gloria R. Boyland sold 30,000 shares of Aurora Innovation stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $6.30, for a total transaction of $189,000.00. Following the transaction, the director now owns 344,647 shares in the company, valued at approximately $2,171,276.10. The trade was a 8.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 13.83% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its position in shares of Aurora Innovation by 40.1% in the third quarter. JPMorgan Chase & Co. now owns 1,380,479 shares of the company’s stock worth $8,172,000 after buying an additional 394,933 shares during the period. Citigroup Inc. lifted its position in Aurora Innovation by 229.4% during the 3rd quarter. Citigroup Inc. now owns 705,181 shares of the company’s stock worth $4,175,000 after acquiring an additional 491,125 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Aurora Innovation by 26.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,424,827 shares of the company’s stock worth $49,875,000 after acquiring an additional 1,776,513 shares during the period. Sterling Investment Advisors Ltd. acquired a new stake in Aurora Innovation in the third quarter valued at approximately $1,184,000. Finally, State Street Corp raised its stake in shares of Aurora Innovation by 15.2% during the third quarter. State Street Corp now owns 22,183,252 shares of the company’s stock valued at $131,325,000 after purchasing an additional 2,920,653 shares during the period. 44.71% of the stock is owned by hedge funds and other 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.