Aurora Innovation’s (AUR) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Aurora Innovation (NASDAQ:AUR) in a report published on Thursday morning,Benzinga reports. Needham & Company LLC currently has a $13.00 price objective on the stock.

Several other analysts also recently weighed in on AUR. Wall Street Zen downgraded shares of Aurora Innovation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 1st. Morgan Stanley boosted their price objective on Aurora Innovation from $14.00 to $18.00 and gave the company an “overweight” rating in a report on Friday, September 11th. Cantor Fitzgerald restated an “overweight” rating and set a $12.00 target price on shares of Aurora Innovation in a report on Monday, September 21st. The Goldman Sachs Group lifted their target price on Aurora Innovation from $6.00 to $7.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Craig Hallum initiated coverage on shares of Aurora Innovation in a research report on Friday, June 5th. They set a “buy” rating and a $18.00 price target on the stock. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Aurora Innovation currently has a consensus rating of “Moderate Buy” and an average price target of $13.11.

Aurora Innovation Stock Down 0.3%

AUR stock opened at $6.04 on Thursday. Aurora Innovation has a 52-week low of $3.60 and a 52-week high of $8.56. The stock has a market cap of $12.11 billion, a price-to-earnings ratio of -12.85 and a beta of 2.63. The business has a fifty day moving average of $6.34 and a two-hundred day moving average of $5.98.

Aurora Innovation (NASDAQ:AUR) last issued its quarterly earnings data on Wednesday, July 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.02). The company had revenue of $2.00 million during the quarter, compared to analysts’ expectations of $1.66 million. Aurora Innovation had a negative net margin of 18,000.00% and a negative return on equity of 43.94%. The firm’s quarterly revenue was up 100.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.11) earnings per share. As a group, sell-side analysts anticipate that Aurora Innovation will post -0.49 EPS for the current year.

Insider Activity at Aurora Innovation

In other news, Director Michelangelo Volpi sold 2,842,682 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $7.00, for a total transaction of $19,898,774.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 6,390,753 shares of company stock worth $44,826,378 over the last three months. Insiders own 8.52% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in AUR. QRG Capital Management Inc. raised its holdings in shares of Aurora Innovation by 13.9% in the 2nd quarter. QRG Capital Management Inc. now owns 15,528 shares of the company’s stock valued at $106,000 after purchasing an additional 1,891 shares in the last quarter. State Street Corp increased its holdings in Aurora Innovation by 6.0% in the second quarter. State Street Corp now owns 22,922,729 shares of the company’s stock valued at $156,333,000 after buying an additional 1,293,487 shares during the last quarter. Tidal Investments LLC raised its stake in Aurora Innovation by 32.5% in the second quarter. Tidal Investments LLC now owns 16,505 shares of the company’s stock valued at $113,000 after buying an additional 4,048 shares in the last quarter. BlueCrest Capital Management Ltd purchased a new stake in Aurora Innovation during the 2nd quarter worth about $490,000. Finally, Integrated Wealth Concepts LLC lifted its holdings in Aurora Innovation by 30.4% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 15,039 shares of the company’s stock worth $103,000 after buying an additional 3,504 shares during the last quarter. Institutional investors and hedge funds own 44.71% of the company’s stock.

Aurora Innovation Company Profile

Aurora Innovation, Inc develops autonomous vehicle technology designed to transport people and goods without human drivers. Its core product, the Aurora Driver, combines artificial intelligence, sensors, mapping, and other software and hardware systems to enable automated driving across trucking, ride-hailing, and logistics applications.

The company is initially focused on autonomous trucking, where its technology is intended to support long-haul freight operations and improve safety, efficiency, and vehicle utilization.