Aurora Innovation (NASDAQ:AUR) Given “Overweight” Rating at Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Aurora Innovation (NASDAQ:AUR) in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a $12.00 target price on the stock.

Other research analysts have also recently issued research reports about the company. Craig Hallum began coverage on Aurora Innovation in a research note on Friday, June 5th. They issued a “buy” rating and a $18.00 price target for the company. TD Cowen lifted their price objective on Aurora Innovation from $4.70 to $7.00 and gave the stock a “hold” rating in a report on Thursday, May 7th. Needham & Company LLC reissued a “buy” rating and issued a $13.00 target price on shares of Aurora Innovation in a research report on Thursday, May 7th. Morgan Stanley restated an “overweight” rating and set a $14.00 target price on shares of Aurora Innovation in a research note on Thursday, May 7th. Finally, Northland Securities assumed coverage on shares of Aurora Innovation in a report on Friday, May 29th. They set an “outperform” rating and a $11.00 price target on the stock. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $12.22.

Aurora Innovation Stock Down 9.4%

Aurora Innovation stock opened at $5.99 on Thursday. Aurora Innovation has a twelve month low of $3.60 and a twelve month high of $8.56. The company has a market capitalization of $11.75 billion, a P/E ratio of -13.61 and a beta of 2.63. The stock’s 50 day moving average is $6.57 and its 200 day moving average is $5.40.

Aurora Innovation (NASDAQ:AUR) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.01. The firm had revenue of $1.00 million during the quarter, compared to the consensus estimate of $0.97 million. Aurora Innovation had a negative return on equity of 40.45% and a negative net margin of 20,775.00%.Aurora Innovation’s revenue was down 66.7% compared to the same quarter last year. As a group, equities analysts expect that Aurora Innovation will post -0.47 EPS for the current year.

Insiders Place Their Bets

In other news, Director David M. Wehner bought 82,500 shares of the stock in a transaction on Thursday, June 11th. The shares were bought at an average price of $6.04 per share, with a total value of $498,300.00. Following the completion of the acquisition, the director owned 246,519 shares in the company, valued at $1,488,974.76. The trade was a 50.30% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Reid Hoffman sold 5,498,487 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $7.81, for a total value of $42,943,183.47. Following the completion of the transaction, the director directly owned 77,500 shares in the company, valued at approximately $605,275. This represents a 98.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 7,048,487 shares of company stock worth $54,295,119. Company insiders own 8.52% of the company’s stock.

Institutional Investors Weigh In On Aurora Innovation

Hedge funds and other institutional investors have recently made changes to their positions in the business. Handelsbanken Fonder AB lifted its stake in shares of Aurora Innovation by 18.0% in the 2nd quarter. Handelsbanken Fonder AB now owns 398,600 shares of the company’s stock worth $2,718,000 after purchasing an additional 60,700 shares during the period. FNY Investment Advisers LLC grew its position in Aurora Innovation by 20.2% during the second quarter. FNY Investment Advisers LLC now owns 298,497 shares of the company’s stock valued at $2,035,000 after buying an additional 50,097 shares during the period. GAMMA Investing LLC grew its position in Aurora Innovation by 79.7% during the second quarter. GAMMA Investing LLC now owns 8,501 shares of the company’s stock valued at $58,000 after buying an additional 3,770 shares during the period. Versant Capital Management Inc grew its position in Aurora Innovation by 964.9% during the second quarter. Versant Capital Management Inc now owns 8,019 shares of the company’s stock valued at $55,000 after buying an additional 7,266 shares during the period. Finally, CX Institutional increased its holdings in Aurora Innovation by 4,070.6% during the second quarter. CX Institutional now owns 17,850 shares of the company’s stock valued at $122,000 after buying an additional 17,422 shares during the last quarter. Hedge funds and other institutional investors own 44.71% of the company’s stock.

Aurora Innovation News Roundup

Here are the key news stories impacting Aurora Innovation this week:

• Positive Sentiment: Aurora launched its next-generation driverless truck fleet, a sign it is progressing toward larger-scale commercialization of its autonomous freight business. Aurora Rolls Out Next Generation of Driverless Trucks for Commercial Freight
• Positive Sentiment: Reports that Aurora is targeting production scale-up and expanding driverless truck deployments suggest improving execution and potential revenue growth ahead of its Q2 results. Aurora launches second-generation driverless trucks, targets production scale-up
• Positive Sentiment: Cantor Fitzgerald reaffirmed its overweight rating and raised its price target to $12, reinforcing bullish sentiment around AUR’s upside potential. Benzinga report on Cantor Fitzgerald rating
• Neutral Sentiment: Additional coverage highlighted Aurora’s second-generation hardware and investor enthusiasm, but these reports largely echoed the same product-launch theme rather than adding new financial details. Aurora races toward scale with new driverless hardware

About Aurora Innovation

Aurora Innovation, Inc is a technology company specializing in the development of self-driving vehicle systems for both passenger and commercial applications. Headquartered in Mountain View, California, Aurora has built an end-to-end platform—known as the Aurora Driver—that integrates proprietary software, machine learning algorithms and a suite of sensors (LiDAR, radar and cameras) to enable vehicles to operate safely and efficiently in diverse driving environments.

The company’s core business revolves around designing, testing and deploying its autonomy stack on vehicles from established automotive and transportation partners.