Aurora Innovation (NASDAQ:AUR) Shares Up 5.2% – Should You Buy?

Aurora Innovation, Inc. (NASDAQ:AUR) shares rose 5.2% during mid-day trading on Friday . The company traded as high as $5.48 and last traded at $5.46. Approximately 1,345,548 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 8,668,504 shares. The stock had previously closed at $5.19.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reaffirmed a “buy” rating and set a $7.00 price target on shares of Aurora Innovation in a research report on Monday.

Aurora Innovation Price Performance

The company has a market cap of $8.55 billion, a PE ratio of -9.96 and a beta of 2.80. The firm has a 50-day simple moving average of $4.42 and a two-hundred day simple moving average of $3.43.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Parallel Advisors LLC grew its position in Aurora Innovation by 91.9% in the fourth quarter. Parallel Advisors LLC now owns 7,100 shares of the company’s stock worth $31,000 after buying an additional 3,400 shares during the last quarter. Blueshift Asset Management LLC purchased a new position in shares of Aurora Innovation during the 4th quarter valued at $53,000. Cadian Capital Management LP purchased a new stake in shares of Aurora Innovation during the 4th quarter worth about $17,914,000. Foxhaven Asset Management LP bought a new stake in Aurora Innovation in the fourth quarter worth approximately $19,123,000. Finally, Vanguard Group Inc. increased its position in Aurora Innovation by 5.9% during the fourth quarter. Vanguard Group Inc. now owns 83,516,588 shares of the company’s stock worth $364,967,000 after buying an additional 4,625,559 shares during the last quarter. 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.