Aurora Innovation, Inc. (NASDAQ:AUR) Sees Large Drop in Short Interest

Aurora Innovation, Inc. (NASDAQ:AUR) saw a significant drop in short interest in November. As of November 15th, there was short interest totalling 78,350,000 shares, a drop of 6.6% from the October 31st total of 83,910,000 shares. Based on an average daily volume of 9,650,000 shares, the days-to-cover ratio is presently 8.1 days. Approximately 8.1% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

AUR has been the topic of several research reports. TD Cowen upped their target price on shares of Aurora Innovation from $3.00 to $4.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Canaccord Genuity Group reiterated a “buy” rating and set a $7.00 price objective on shares of Aurora Innovation in a report on Monday, September 30th. Evercore ISI lifted their price objective on shares of Aurora Innovation from $3.00 to $5.00 and gave the company an “in-line” rating in a report on Monday, October 14th. The Goldman Sachs Group increased their target price on shares of Aurora Innovation from $2.00 to $2.50 and gave the stock a “sell” rating in a report on Monday, November 4th. Finally, Wolfe Research initiated coverage on shares of Aurora Innovation in a research note on Tuesday, November 26th. They issued a “peer perform” rating on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Aurora Innovation has a consensus rating of “Hold” and a consensus price target of $4.63.

Aurora Innovation Stock Performance

AUR stock opened at $6.06 on Tuesday. Aurora Innovation has a 52 week low of $2.10 and a 52 week high of $7.01. The company’s 50-day simple moving average is $5.91 and its 200 day simple moving average is $4.33. The company has a market capitalization of $10.41 billion, a PE ratio of -12.37 and a beta of 2.86.

Insider Transactions at Aurora Innovation

In other news, Director Reid Hoffman sold 1,393,874 shares of Aurora Innovation stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $5.45, for a total transaction of $7,596,613.30. Following the transaction, the director now owns 672,425 shares in the company, valued at $3,664,716.25. The trade was a 67.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gloria R. Boyland sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $6.30, for a total value of $189,000.00. Following the completion of the transaction, the director now owns 344,647 shares of the company’s stock, valued at $2,171,276.10. This represents a 8.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,776,667 shares of company stock valued at $48,432,337 over the last three months. 13.83% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Baillie Gifford & Co. raised its stake in Aurora Innovation by 78.4% in the second quarter. Baillie Gifford & Co. now owns 72,438,562 shares of the company’s stock valued at $200,655,000 after purchasing an additional 31,841,994 shares in the last quarter. FMR LLC raised its position in shares of Aurora Innovation by 206.1% in the 3rd quarter. FMR LLC now owns 13,848,530 shares of the company’s stock valued at $81,983,000 after buying an additional 9,325,013 shares in the last quarter. Bank of New York Mellon Corp boosted its position 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 acquiring an additional 3,800,901 shares in the last quarter. Geode Capital Management LLC raised its position in Aurora Innovation by 15.5% during the third quarter. Geode Capital Management LLC now owns 22,796,526 shares of the company’s stock valued at $134,981,000 after purchasing an additional 3,064,342 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of Aurora Innovation by 15.2% in the 3rd 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. Institutional investors and hedge funds own 44.71% of the company’s stock.

Aurora Innovation Company Profile

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.