Aurora Innovation (NASDAQ:AUR) Stock Bumped Down to “Strong Sell” by Zacks Research

Zacks Research downgraded shares of Aurora Innovation (NASDAQ:AUR) from a hold rating to a strong sell rating in a report issued on Monday morning,Zacks reports.

AUR has been the topic of several other reports. Evercore reissued an “outperform” rating on shares of Aurora Innovation in a research report on Tuesday, September 15th. Morgan Stanley boosted their price target on Aurora Innovation from $14.00 to $18.00 and gave the company an “overweight” rating in a research note on Friday, September 11th. The Goldman Sachs Group increased their price objective on Aurora Innovation from $6.00 to $7.00 and gave the company a “neutral” rating in a report on Thursday, September 24th. Canaccord Genuity Group raised their price objective on Aurora Innovation from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, September 24th. Finally, Needham & Company LLC restated a “buy” rating and issued a $13.00 price objective on shares of Aurora Innovation in a research note on Thursday, September 24th. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $13.22.

Aurora Innovation Stock Down 5.7%

AUR stock opened at $5.34 on Monday. The firm has a 50 day moving average of $6.16 and a 200 day moving average of $6.11. The stock has a market capitalization of $10.70 billion, a PE ratio of -11.36 and a beta of 2.69. Aurora Innovation has a 52 week low of $3.60 and a 52 week high of $8.56.

Aurora Innovation (NASDAQ:AUR) last released its earnings results on Wednesday, July 29th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.02). The company had revenue of $2.00 million for the quarter, compared to analysts’ expectations of $1.66 million. Aurora Innovation had a negative return on equity of 43.94% and a negative net margin of 18,000.00%. The firm’s revenue for the quarter was up 100.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.11) EPS. On average, equities research analysts expect that Aurora Innovation will post -0.49 earnings per share for the current year.

Insider Activity at Aurora Innovation

In other news, Director Michelangelo Volpi sold 2,842,682 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $7.00, for a total value of $19,898,774.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders have sold 6,390,753 shares of company stock valued at $44,826,378. 8.52% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Aurora Innovation

Hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its position in Aurora Innovation by 35.4% during the 3rd quarter. GAMMA Investing LLC now owns 11,513 shares of the company’s stock worth $64,000 after purchasing an additional 3,012 shares during the period. Venture Visionary Partners LLC acquired a new stake in Aurora Innovation during the third quarter worth about $166,000. Ballew Advisors Inc acquired a new stake in Aurora Innovation during the third quarter worth about $58,000. QRG Capital Management Inc. raised its position in Aurora Innovation by 13.9% during the second quarter. QRG Capital Management Inc. now owns 15,528 shares of the company’s stock valued at $106,000 after acquiring an additional 1,891 shares in the last quarter. Finally, State Street Corp raised its position in Aurora Innovation by 6.0% during the second quarter. State Street Corp now owns 22,922,729 shares of the company’s stock valued at $156,333,000 after acquiring an additional 1,293,487 shares in the last quarter. 44.71% of the stock is owned by hedge funds and other institutional investors.

About Aurora Innovation

Aurora Innovation, Inc develops autonomous driving technology for commercial and passenger vehicles. Its primary product is the Aurora Driver, an autonomous driving system designed to combine hardware, software and artificial intelligence to enable vehicles to operate without a human driver. The company focuses on applications including long-haul trucking, delivery and logistics, and autonomous ride-hailing.

Aurora works with automotive manufacturers, trucking companies, logistics providers and transportation platforms to integrate its technology into production vehicles and commercial fleets.