Aurora Innovation, Inc. (NASDAQ:AUR) Sees Significant Decline in Short Interest

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Cantor Fitzgerald assumed coverage on Aurora Innovation in a report on Tuesday, December 10th. They issued an “overweight” rating and a $10.00 price objective for the company. Wolfe Research assumed coverage on Aurora Innovation in a research note on Tuesday, November 26th. They issued a “peer perform” rating on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $7.00 price target on shares of Aurora Innovation in a research report on Monday, September 30th. TD Cowen increased their price objective on shares of Aurora Innovation from $3.00 to $4.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Finally, Evercore ISI upped their price target on Aurora Innovation from $3.00 to $5.00 and gave the company an “in-line” rating in a report on Monday, October 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Aurora Innovation currently has a consensus rating of “Hold” and an average target price of $5.70.

Aurora Innovation Price Performance

Shares of NASDAQ AUR traded down $0.40 during midday trading on Friday, hitting $6.94. 6,270,917 shares of the company’s stock were exchanged, compared to its average volume of 9,186,753. The firm’s fifty day simple moving average is $6.43 and its 200-day simple moving average is $4.95. Aurora Innovation has a twelve month low of $2.10 and a twelve month high of $8.44. The company has a market cap of $11.93 billion, a PE ratio of -14.16 and a beta of 2.86.

Insider Buying and Selling

In other Aurora Innovation news, Director Reid Hoffman sold 3,500,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $5.58, for a total value of $19,530,000.00. Following the transaction, the director now directly owns 382,425 shares in the company, valued at $2,133,931.50. This represents a 90.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gloria R. Boyland sold 30,000 shares of Aurora Innovation stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $6.30, for a total transaction of $189,000.00. Following the sale, the director now directly 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. In the last quarter, insiders have sold 8,776,667 shares of company stock valued at $48,432,337. 13.83% of the stock is owned by company insiders.

Hedge Funds Weigh In On Aurora Innovation

Several hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its position in 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Aurora Innovation by 56.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 157,010 shares of the company’s stock valued at $435,000 after buying an additional 56,874 shares during the last quarter. Principal Financial Group Inc. boosted its position 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 buying an additional 58,477 shares during the period. nVerses Capital LLC acquired a new position in shares of Aurora Innovation during the second quarter valued at $73,000. Finally, CIBC Asset Management Inc acquired a new stake in Aurora Innovation in the second quarter worth approximately $90,000. 44.71% of the stock is currently owned by hedge funds and other institutional investors.

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.