Aurora Innovation (NASDAQ:AUR) Shares Down 8.1% – Time to Sell?

Shares of Aurora Innovation, Inc. (NASDAQ:AUR) dropped 8.1% during mid-day trading on Tuesday . The stock traded as low as $5.09 and last traded at $5.10. Approximately 1,694,545 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 8,637,591 shares. The stock had previously closed at $5.55.

Analyst Ratings Changes

Several research firms have commented on AUR. The Goldman Sachs Group boosted their price target on shares of Aurora Innovation from $2.00 to $2.50 and gave the stock a “sell” rating in a research note on Monday. TD Cowen boosted their target price on shares of Aurora Innovation from $3.00 to $4.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Evercore ISI boosted their target price on shares of Aurora Innovation from $3.00 to $5.00 and gave the stock an “in-line” rating in a research note on Monday, October 14th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $7.00 target price on shares of Aurora Innovation in a research note on Monday, September 30th.

Aurora Innovation Price Performance

The firm has a 50-day simple moving average of $5.38 and a two-hundred day simple moving average of $3.94. The company has a market cap of $8.03 billion, a PE ratio of -10.45 and a beta of 2.82.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC acquired a new position in Aurora Innovation in the second quarter valued at approximately $30,000. Profund Advisors LLC acquired a new stake in Aurora Innovation in the second quarter worth approximately $46,000. Empowered Funds LLC increased its holdings in shares of Aurora Innovation by 44.1% in the first quarter. Empowered Funds LLC now owns 17,597 shares of the company’s stock valued at $50,000 after buying an additional 5,386 shares in the last quarter. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Aurora Innovation during the 2nd quarter valued at $51,000. Finally, Diversified Portfolios Inc. bought a new position in shares of Aurora Innovation during the 2nd quarter valued at $54,000. Institutional investors and hedge funds own 44.71% of the company’s stock.

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.