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

Aurora Innovation, Inc. (NASDAQ:AUR) was the target of a large decrease in short interest in the month of September. As of September 15th, there was short interest totalling 90,170,000 shares, a decrease of 8.1% from the August 31st total of 98,070,000 shares. Based on an average daily volume of 10,480,000 shares, the days-to-cover ratio is currently 8.6 days. Currently, 9.7% of the shares of the stock are sold short.

Aurora Innovation Trading Up 2.8 %

Shares of AUR traded up $0.16 during trading hours on Friday, reaching $5.96. The company had a trading volume of 9,700,852 shares, compared to its average volume of 7,662,769. The company has a market capitalization of $9.35 billion, a price-to-earnings ratio of -10.84 and a beta of 2.78. Aurora Innovation has a 12-month low of $1.60 and a 12-month high of $6.79. The firm has a 50 day simple moving average of $4.31 and a 200-day simple moving average of $3.34.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Baillie Gifford & Co. boosted its position in shares of Aurora Innovation by 78.4% in the 2nd quarter. Baillie Gifford & Co. now owns 72,438,562 shares of the company’s stock worth $200,655,000 after buying an additional 31,841,994 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Aurora Innovation by 5.9% in the fourth quarter. Vanguard Group Inc. now owns 83,516,588 shares of the company’s stock valued at $364,967,000 after purchasing an additional 4,625,559 shares in the last quarter. Foxhaven Asset Management LP acquired a new stake in shares of Aurora Innovation in the fourth quarter valued at approximately $19,123,000. Cadian Capital Management LP purchased a new position in shares of Aurora Innovation during the 4th quarter worth approximately $17,914,000. Finally, Bank of New York Mellon Corp raised 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 purchasing an additional 3,800,901 shares during the last quarter. Hedge funds and other institutional investors own 44.71% of the company’s stock.

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.