Aurora Innovation (NASDAQ:AUR) Coverage Initiated by Analysts at Northland Securities

Northland Securities initiated coverage on shares of Aurora Innovation (NASDAQ:AUR) in a research note published on Friday morning, Marketbeat reports. The brokerage issued an outperform rating and a $11.00 price objective on the stock.

A number of other equities research analysts have also recently commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Aurora Innovation in a research note on Monday, February 9th. Needham & Company LLC reissued a “buy” rating and issued a $13.00 price target on shares of Aurora Innovation in a research note on Thursday, May 7th. Wall Street Zen cut shares of Aurora Innovation from a “hold” rating to a “sell” rating in a research note on Sunday, April 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Aurora Innovation in a research note on Monday, April 20th. Finally, TD Cowen lifted their price target on shares of Aurora Innovation from $4.70 to $7.00 and gave the company a “hold” rating in a research note on Thursday, May 7th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $11.43.

Aurora Innovation Price Performance

Shares of NASDAQ AUR opened at $7.34 on Friday. The stock has a market capitalization of $14.40 billion, a price-to-earnings ratio of -16.68 and a beta of 2.58. Aurora Innovation has a 12 month low of $3.60 and a 12 month high of $8.56. The firm’s 50 day simple moving average is $5.59 and its 200-day simple moving average is $4.77.

Aurora Innovation (NASDAQ:AUR) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.01. The business had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $0.97 million. Aurora Innovation had a negative net margin of 20,775.00% and a negative return on equity of 40.45%. The business’s revenue was down 66.7% compared to the same quarter last year. Analysts anticipate that Aurora Innovation will post -0.46 earnings per share for the current fiscal year.

Insider Transactions at Aurora Innovation

In related news, Director Reid Hoffman sold 1,202,354 shares of Aurora Innovation stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $7.27, for a total value of $8,741,113.58. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last 90 days, insiders have sold 7,048,487 shares of company stock valued at $54,295,119. 8.52% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Aurora Innovation

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Aurora Innovation by 12.5% during the 4th quarter. Vanguard Group Inc. now owns 160,567,323 shares of the company’s stock worth $616,579,000 after purchasing an additional 17,818,179 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its stake in Aurora Innovation by 230.5% during the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 647,096 shares of the company’s stock worth $3,488,000 after purchasing an additional 451,315 shares during the last quarter. DNB Asset Management AS boosted its stake in Aurora Innovation by 93.0% during the 4th quarter. DNB Asset Management AS now owns 1,037,510 shares of the company’s stock worth $3,984,000 after purchasing an additional 499,935 shares during the last quarter. SG Americas Securities LLC boosted its stake in Aurora Innovation by 6,824.0% during the 4th quarter. SG Americas Securities LLC now owns 9,645,035 shares of the company’s stock worth $37,037,000 after purchasing an additional 9,505,736 shares during the last quarter. Finally, Liontrust Investment Partners LLP acquired a new stake in Aurora Innovation during the 3rd quarter worth $3,731,000. Institutional investors and hedge funds own 44.71% of the company’s stock.

About Aurora Innovation

Aurora Innovation, Inc is a technology company specializing in the development of self-driving vehicle systems for both passenger and commercial applications. Headquartered in Mountain View, California, Aurora has built an end-to-end platform—known as the Aurora Driver—that integrates proprietary software, machine learning algorithms and a suite of sensors (LiDAR, radar and cameras) to enable vehicles to operate safely and efficiently in diverse driving environments.

The company’s core business revolves around designing, testing and deploying its autonomy stack on vehicles from established automotive and transportation partners.