Aurora Innovation (NASDAQ:AUR) Trading 7.5% Higher After Analyst Upgrade

Aurora Innovation, Inc. (NASDAQ:AUR)’s stock price rose 7.5% on Friday after TD Cowen raised their price target on the stock from $3.00 to $4.00. TD Cowen currently has a hold rating on the stock. Aurora Innovation traded as high as $5.63 and last traded at $5.59. Approximately 5,033,494 shares traded hands during trading, a decline of 41% from the average daily volume of 8,580,656 shares. The stock had previously closed at $5.20.

AUR has been the subject of several other reports. Canaccord Genuity Group reissued a “buy” rating and set a $7.00 price target on shares of Aurora Innovation in a research report on Monday, September 30th. Evercore ISI increased their price objective on Aurora Innovation from $3.00 to $5.00 and gave the company an “in-line” rating in a report on Monday, October 14th.

Hedge Funds Weigh In On Aurora Innovation

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased 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 acquiring an additional 1,267,962 shares during the period. Baillie Gifford & Co. increased its holdings in shares of Aurora Innovation by 78.4% during the second quarter. Baillie Gifford & Co. now owns 72,438,562 shares of the company’s stock worth $200,655,000 after purchasing an additional 31,841,994 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Aurora Innovation by 23.1% in the second quarter. Dimensional Fund Advisors LP now owns 13,337,429 shares of the company’s stock valued at $36,941,000 after buying an additional 2,502,002 shares in the last quarter. Primecap Management Co. CA boosted its stake in shares of Aurora Innovation by 1.0% in the second quarter. Primecap Management Co. CA now owns 10,217,700 shares of the company’s stock valued at $28,303,000 after buying an additional 102,800 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Aurora Innovation by 273.5% in the second quarter. Bank of New York Mellon Corp now owns 5,190,426 shares of the company’s stock valued at $14,377,000 after buying an additional 3,800,901 shares during the period. Institutional investors own 44.71% of the company’s stock.

Aurora Innovation Price Performance

The stock has a 50-day moving average of $5.36 and a 200-day moving average of $3.90. The firm has a market cap of $9.11 billion, a price-to-earnings ratio of -11.86 and a beta of 2.82.

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

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.