Aurora Innovation (NASDAQ:AUR) Stock Price Down 8.1% – Here’s Why

Aurora Innovation, Inc. (NASDAQ:AUR)’s stock price traded down 8.1% during mid-day trading on Tuesday . The company traded as low as $5.09 and last traded at $5.10. 1,694,545 shares were traded during mid-day trading, a decline of 80% from the average session volume of 8,637,591 shares. The stock had previously closed at $5.55.

Wall Street Analyst Weigh In

AUR has been the topic of several research reports. Canaccord Genuity Group restated a “buy” rating and set a $7.00 price objective on shares of Aurora Innovation in a report on Monday, September 30th. The Goldman Sachs Group raised their price target on Aurora Innovation from $2.00 to $2.50 and gave the company a “sell” rating in a research note on Monday. TD Cowen increased their price target on Aurora Innovation from $3.00 to $4.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Finally, Evercore ISI lifted their price target on Aurora Innovation from $3.00 to $5.00 and gave the company an “in-line” rating in a research note on Monday, October 14th.

Aurora Innovation Trading Down 7.7 %

The firm’s 50-day moving average is $5.38 and its 200-day moving average is $3.94. The firm has a market cap of $8.03 billion, a price-to-earnings ratio of -10.45 and a beta of 2.82.

Institutional Investors Weigh In On Aurora Innovation

Hedge funds have recently modified their holdings of the stock. Sigma Planning Corp purchased a new stake in Aurora Innovation in the 3rd quarter worth approximately $63,000. Sequoia Financial Advisors LLC purchased a new stake in shares of Aurora Innovation during the 2nd quarter valued at $30,000. ASB Consultores LLC raised its position in shares of Aurora Innovation by 24.0% during the 3rd quarter. ASB Consultores LLC now owns 15,955 shares of the company’s stock valued at $94,000 after buying an additional 3,088 shares in the last quarter. Profund Advisors LLC bought a new position in shares of Aurora Innovation during the 2nd quarter valued at $46,000. Finally, Empowered Funds LLC grew its holdings in shares of Aurora Innovation by 44.1% during the 1st quarter. Empowered Funds LLC now owns 17,597 shares of the company’s stock valued at $50,000 after purchasing an additional 5,386 shares during the last quarter. Institutional investors own 44.71% of the company’s stock.

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.