Aurora Innovation, Inc. (NASDAQ:AUR) Sees Large Decrease in Short Interest

Aurora Innovation, Inc. (NASDAQ:AUR) was the recipient of a large decrease in short interest in November. As of November 15th, there was short interest totalling 78,350,000 shares, a decrease of 6.6% from the October 31st total of 83,910,000 shares. Based on an average daily trading volume, of 9,650,000 shares, the days-to-cover ratio is currently 8.1 days. Approximately 8.1% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AUR. Canaccord Genuity Group reissued a “buy” rating and set a $7.00 price target on shares of Aurora Innovation in a report on Monday, September 30th. Wolfe Research started coverage on shares of Aurora Innovation in a report on Tuesday, November 26th. They issued a “peer perform” rating for the company. Evercore ISI lifted their price target on shares of Aurora Innovation from $3.00 to $5.00 and gave the company an “in-line” rating in a report on Monday, October 14th. The Goldman Sachs Group raised their target price on shares of Aurora Innovation from $2.00 to $2.50 and gave the company a “sell” rating in a research report on Monday, November 4th. Finally, TD Cowen increased their target price on Aurora Innovation from $3.00 to $4.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $4.63.

Aurora Innovation Stock Performance

Shares of NASDAQ:AUR traded down $0.28 during mid-day trading on Monday, reaching $6.19. 4,827,013 shares of the company’s stock were exchanged, compared to its average volume of 8,938,687. The firm has a market capitalization of $10.64 billion, a price-to-earnings ratio of -13.29 and a beta of 2.82. Aurora Innovation has a twelve month low of $2.10 and a twelve month high of $7.01. The business’s fifty day moving average price is $5.89 and its 200-day moving average price is $4.31.

Insider Buying and Selling at Aurora Innovation

In other Aurora Innovation news, Director Reid Hoffman sold 3,500,000 shares of Aurora Innovation stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $5.58, for a total value of $19,530,000.00. Following the completion of the transaction, the director now directly owns 382,425 shares of the company’s stock, valued at $2,133,931.50. The trade was a 90.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gloria R. Boyland sold 30,000 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $6.30, for a total value of $189,000.00. Following the completion of the transaction, the director now owns 344,647 shares in the company, valued at $2,171,276.10. The trade was a 8.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,776,667 shares of company stock valued at $48,432,337 in the last ninety days. 13.83% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Aurora Innovation

Institutional investors have recently made changes to their positions in the stock. Souders Financial Advisors acquired a new stake in shares of Aurora Innovation during the third quarter worth $59,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Aurora Innovation in the 3rd quarter valued at about $60,000. Reynders McVeigh Capital Management LLC acquired a new position in shares of Aurora Innovation in the 3rd quarter valued at about $63,000. Sigma Planning Corp acquired a new stake in Aurora Innovation during the third quarter worth approximately $63,000. Finally, Sequoia Financial Advisors LLC bought a new stake in Aurora Innovation in the second quarter worth approximately $30,000. 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.