Aurora Innovation (NASDAQ:AUR) Shares Gap Up – What’s Next?

Aurora Innovation, Inc. (NASDAQ:AUR) shares gapped up before the market opened on Friday . The stock had previously closed at $6.26, but opened at $6.55. Aurora Innovation shares last traded at $6.82, with a volume of 2,929,992 shares.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Evercore ISI boosted their target price on shares of Aurora Innovation from $5.00 to $6.00 and gave the company an “in-line” rating in a research note on Tuesday, February 18th. TD Cowen started coverage on shares of Aurora Innovation in a research note on Friday, March 7th. They set a “hold” rating and a $8.00 price objective on the stock. Wolfe Research began coverage on Aurora Innovation in a report on Tuesday, November 26th. They issued a “peer perform” rating on the stock. Morgan Stanley assumed coverage on Aurora Innovation in a report on Monday, March 3rd. They set an “overweight” rating and a $12.00 price target for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price objective on shares of Aurora Innovation in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $8.08.

Aurora Innovation Stock Performance

The firm has a market capitalization of $12.04 billion, a price-to-earnings ratio of -14.69 and a beta of 2.82. The company has a 50-day moving average of $7.24 and a 200-day moving average of $6.35.

Aurora Innovation (NASDAQ:AUR) last issued its quarterly earnings data on Wednesday, February 12th. The company reported ($0.11) earnings per share (EPS) for the quarter. As a group, analysts anticipate that Aurora Innovation, Inc. will post -0.49 EPS for the current fiscal year.

Institutional Trading of Aurora Innovation

A number of institutional investors have recently modified their holdings of AUR. JPMorgan Chase & Co. raised its position in Aurora Innovation by 40.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,380,479 shares of the company’s stock valued at $8,172,000 after buying an additional 394,933 shares during the last quarter. Citigroup Inc. raised its holdings in shares of Aurora Innovation by 229.4% in the third quarter. Citigroup Inc. now owns 705,181 shares of the company’s stock valued at $4,175,000 after purchasing an additional 491,125 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Aurora Innovation by 26.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,424,827 shares of the company’s stock worth $49,875,000 after purchasing an additional 1,776,513 shares in the last quarter. ARK Investment Management LLC boosted its holdings in Aurora Innovation by 14.9% during the fourth quarter. ARK Investment Management LLC now owns 2,412,353 shares of the company’s stock worth $15,198,000 after purchasing an additional 312,144 shares during the last quarter. Finally, State Street Corp grew its position in Aurora Innovation by 15.2% in the third quarter. State Street Corp now owns 22,183,252 shares of the company’s stock valued at $131,325,000 after purchasing an additional 2,920,653 shares in the last quarter. 44.71% of the stock is currently owned by institutional investors.

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.