Aurora Innovation (NASDAQ:AUR) Reaches New 12-Month High – Should You Buy?

Aurora Innovation, Inc. (NASDAQ:AUR) hit a new 52-week high on Monday . The stock traded as high as $6.87 and last traded at $6.87, with a volume of 2588070 shares. The stock had previously closed at $6.41.

Analyst Upgrades and Downgrades

AUR has been the subject of several recent research reports. Evercore ISI lifted their price objective 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. Canaccord Genuity Group reiterated a “buy” rating and issued a $7.00 price target on shares of Aurora Innovation in a research note on Monday, September 30th.

Aurora Innovation Price Performance

The stock has a 50 day simple moving average of $5.24 and a two-hundred day simple moving average of $3.86. The company has a market capitalization of $10.42 billion, a price-to-earnings ratio of -14.12 and a beta of 2.80.

Aurora Innovation (NASDAQ:AUR) last announced its quarterly earnings results on Wednesday, July 31st. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.01.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Baillie Gifford & Co. raised its stake in shares of Aurora Innovation by 20.7% during the first quarter. Baillie Gifford & Co. now owns 40,596,568 shares of the company’s stock worth $114,482,000 after purchasing an additional 6,962,404 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Aurora Innovation by 44.1% in 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 in the last quarter. Swiss National Bank lifted its stake in shares of Aurora Innovation by 15.2% in the first quarter. Swiss National Bank now owns 1,355,500 shares of the company’s stock valued at $3,823,000 after purchasing an additional 178,900 shares during the period. ProShare Advisors LLC boosted its holdings in Aurora Innovation by 14.5% during the first quarter. ProShare Advisors LLC now owns 64,179 shares of the company’s stock worth $181,000 after buying an additional 8,142 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Aurora Innovation by 1.5% during the first quarter. Vanguard Group Inc. now owns 84,784,550 shares of the company’s stock worth $239,092,000 after buying an additional 1,267,962 shares during the period. Hedge funds and other 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.