Cantor Fitzgerald Reaffirms “Overweight” Rating for Aurora Innovation (NASDAQ:AUR)

Aurora Innovation (NASDAQ:AUR)‘s stock had its “overweight” rating reiterated by investment analysts at Cantor Fitzgerald in a report issued on Thursday,Benzinga reports. They presently have a $12.00 price objective on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 101.68% from the stock’s current price.

A number of other research analysts have also commented on AUR. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aurora Innovation in a report on Friday, July 17th. Morgan Stanley reiterated an “overweight” rating and set a $14.00 price objective on shares of Aurora Innovation in a research report on Thursday, May 7th. Northland Securities initiated coverage on Aurora Innovation in a report on Friday, May 29th. They set an “outperform” rating and a $11.00 target price for the company. The Goldman Sachs Group boosted their target price on shares of Aurora Innovation from $4.00 to $5.00 and gave the company a “neutral” rating in a research report on Friday, April 17th. Finally, Wall Street Zen downgraded shares of Aurora Innovation from a “hold” rating to a “sell” rating in a research note on Sunday, April 26th. Seven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $12.22.

Aurora Innovation Stock Down 0.7%

Shares of AUR stock opened at $5.95 on Thursday. The firm has a 50 day moving average price of $6.53 and a two-hundred day moving average price of $5.40. The company has a market capitalization of $11.67 billion, a PE ratio of -13.52 and a beta of 2.63. Aurora Innovation has a 12-month low of $3.60 and a 12-month high of $8.56.

Aurora Innovation (NASDAQ:AUR) last posted its earnings results on Wednesday, May 6th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.01. The company had revenue of $1.00 million for the quarter, compared to the consensus estimate of $0.97 million. Aurora Innovation had a negative return on equity of 40.45% and a negative net margin of 20,775.00%.The company’s revenue was down 66.7% compared to the same quarter last year. As a group, research analysts expect that Aurora Innovation will post -0.47 EPS for the current year.

Insider Buying and Selling

In related news, Director David M. Wehner purchased 82,500 shares of Aurora Innovation stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average price of $6.04 per share, with a total value of $498,300.00. Following the completion of the transaction, the director directly owned 246,519 shares of the company’s stock, valued at $1,488,974.76. This represents a 50.30% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Reid Hoffman sold 1,202,354 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $7.27, for a total value of $8,741,113.58. The disclosure for this sale is available in the SEC filing. Insiders have sold 7,048,487 shares of company stock worth $54,295,119 in the last three months. 8.52% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AUR. Ascent Wealth Partners LLC grew its stake in Aurora Innovation by 9.6% during the first quarter. Ascent Wealth Partners LLC now owns 15,820 shares of the company’s stock worth $65,000 after buying an additional 1,389 shares in the last quarter. Gabelli Funds LLC raised its position in shares of Aurora Innovation by 15.4% in the 1st quarter. Gabelli Funds LLC now owns 15,000 shares of the company’s stock valued at $62,000 after buying an additional 2,000 shares in the last quarter. Abel Hall LLC raised its position in shares of Aurora Innovation by 21.0% in the 4th quarter. Abel Hall LLC now owns 13,596 shares of the company’s stock valued at $52,000 after buying an additional 2,356 shares in the last quarter. World Investment Advisors lifted its holdings in shares of Aurora Innovation by 7.4% during the 4th quarter. World Investment Advisors now owns 34,812 shares of the company’s stock worth $134,000 after acquiring an additional 2,406 shares during the period. Finally, Cerity Partners LLC lifted its holdings in shares of Aurora Innovation by 20.1% during the 2nd quarter. Cerity Partners LLC now owns 14,686 shares of the company’s stock worth $77,000 after acquiring an additional 2,458 shares during the period. 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.