Short Interest in Aurora Innovation, Inc. (NASDAQ:AUR) Decreases By 15.0%

Aurora Innovation, Inc. (NASDAQ:AUR) was the target of a large decrease in short interest in December. As of December 15th, there was short interest totalling 64,740,000 shares, a decrease of 15.0% from the November 30th total of 76,130,000 shares. Based on an average daily trading volume, of 10,970,000 shares, the short-interest ratio is currently 5.9 days. Approximately 6.6% of the company’s stock are sold short.

Aurora Innovation Trading Down 1.7 %

Shares of AUR stock traded down $0.11 during trading hours on Tuesday, hitting $6.36. The company’s stock had a trading volume of 2,355,011 shares, compared to its average volume of 9,152,636. Aurora Innovation has a twelve month low of $2.10 and a twelve month high of $8.44. The stock has a market cap of $10.93 billion, a price-to-earnings ratio of -12.98 and a beta of 2.86. The business has a fifty day moving average of $6.44 and a 200-day moving average of $5.00.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Evercore ISI boosted their target price on Aurora Innovation from $3.00 to $5.00 and gave the stock an “in-line” rating in a research report on Monday, October 14th. TD Cowen increased their price objective on Aurora Innovation from $3.00 to $4.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. The Goldman Sachs Group boosted their target price on shares of Aurora Innovation from $2.00 to $2.50 and gave the stock a “sell” rating in a research report on Monday, November 4th. Canaccord Genuity Group reiterated a “buy” rating and issued a $7.00 price objective on shares of Aurora Innovation in a research note on Monday, September 30th. Finally, Wolfe Research assumed coverage on shares of Aurora Innovation in a report on Tuesday, November 26th. They issued a “peer perform” rating for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $5.70.

Insider Activity

In related news, Director Gloria R. Boyland sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $6.30, for a total transaction of $189,000.00. Following the transaction, the director now owns 344,647 shares of the company’s stock, valued at $2,171,276.10. This trade represents a 8.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Reid Hoffman sold 447,046 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $5.04, for a total value of $2,253,111.84. Following the sale, the director now directly owns 26,892 shares of the company’s stock, valued at $135,535.68. The trade was a 94.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,776,667 shares of company stock worth $48,432,337. Corporate insiders own 13.83% of the company’s stock.

Hedge Funds Weigh In On Aurora Innovation

A number of institutional investors have recently made changes to their positions in AUR. Bank of New York Mellon Corp boosted its stake in shares of Aurora Innovation by 273.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,190,426 shares of the company’s stock worth $14,377,000 after purchasing an additional 3,800,901 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Aurora Innovation by 56.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 157,010 shares of the company’s stock valued at $435,000 after acquiring an additional 56,874 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Aurora Innovation by 143.4% during the second quarter. Principal Financial Group Inc. now owns 99,270 shares of the company’s stock worth $275,000 after purchasing an additional 58,477 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of Aurora Innovation in the second quarter valued at $73,000. Finally, CIBC Asset Management Inc purchased a new position in Aurora Innovation during the second quarter worth about $90,000. 44.71% of the stock is owned by institutional investors and hedge funds.

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.