Short Interest in Aurora Innovation, Inc. (NASDAQ:AUR) Drops By 6.3%

Aurora Innovation, Inc. (NASDAQ:AUR) was the target of a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 98,070,000 shares, a drop of 6.3% from the August 15th total of 104,630,000 shares. Based on an average daily volume of 10,440,000 shares, the short-interest ratio is currently 9.4 days. Approximately 11.1% of the company’s stock are short sold.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Algert Global LLC boosted its holdings in Aurora Innovation by 72.9% in the second quarter. Algert Global LLC now owns 265,921 shares of the company’s stock worth $737,000 after acquiring an additional 112,131 shares in the last quarter. Scientech Research LLC purchased a new stake in Aurora Innovation during the 2nd quarter worth approximately $439,000. The Manufacturers Life Insurance Company increased its stake in Aurora Innovation by 67.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 500,535 shares of the company’s stock valued at $1,386,000 after purchasing an additional 202,413 shares in the last quarter. Employees Retirement System of Texas lifted its holdings in shares of Aurora Innovation by 581.2% in the 2nd quarter. Employees Retirement System of Texas now owns 262,442 shares of the company’s stock valued at $727,000 after buying an additional 223,913 shares during the period. Finally, Xponance Inc. lifted its holdings in Aurora Innovation by 147.4% in the second quarter. Xponance Inc. now owns 53,168 shares of the company’s stock valued at $147,000 after acquiring an additional 31,678 shares during the period. Hedge funds and other institutional investors own 44.71% of the company’s stock.

Aurora Innovation Stock Performance

NASDAQ:AUR opened at $4.74 on Thursday. The firm has a 50-day simple moving average of $4.11 and a 200-day simple moving average of $3.18. Aurora Innovation has a one year low of $1.60 and a one year high of $5.24. The firm has a market cap of $7.44 billion, a P/E ratio of -8.62 and a beta of 2.78.

Aurora Innovation (NASDAQ:AUR) last announced its earnings results on Wednesday, July 31st. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate 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.