Aurora Innovation (NASDAQ:AUR) Shares Down 12.3% - Time to Sell?

Aurora Innovation, Inc. (NASDAQ:AUR) saw its stock price decline by 12.3% during trading on Monday. The stock hit a low of $6.23 and maintained this price at the closing. In total, around 8,191,315 shares changed hands, marking a significant decline of 49% compared to the average daily trading volume of 15,962,853 shares. The previous closing price was $7.10.

Aurora Innovation alerts:

Analysts Set New Price Targets

• NVIDIA Deal Ignites Aurora Stock’s Explosive Potential

Multiple brokerages have released reports on Aurora Innovation, providing insights into their stock performance. TD Cowen launched coverage with a "hold" rating and set a price target of $8.00. Meanwhile, Morgan Stanley also initiated coverage, assigning an "overweight" rating along with a $12.00 price target. Wolfe Research approached Aurora with a "peer perform" rating, indicating a neutral stance. Additionally, Cantor Fitzgerald reiterated an "overweight" rating with a $10.00 target, and Canaccord Genuity increased their price target from $7.00 to $10.00 while issuing a "buy" rating. Currently, one analyst rates the stock as a sell, three as a hold, and three as a buy. According to MarketBeat.com, the average rating stands at "Hold" with a consensus price target of $8.08.

Read Our Latest Stock Analysis on Aurora Innovation

Aurora Innovation Stock Performance

The stock's performance can be further understood by examining its moving averages. It has a 50-day simple moving average of $7.24 and a 200-day simple moving average of $6.32. Currently, Aurora Innovation holds a market cap of $11.07 billion, a price-to-earnings (P/E) ratio of -13.53, and a beta of 2.82. The most recent quarterly earnings report, released on February 12th, showed that the company had an earnings per share (EPS) of -$0.11. Analysts predict that for the current year, Aurora Innovation will report an EPS of -0.49.

Institutional Inflows and Outflows

Institutional investors are actively managing their positions in Aurora Innovation. Uber Technologies Inc. purchased a new position valued at approximately $2.05 billion in the recent fourth quarter. Toyota Motor Corp also made headlines by buying a new stake worth about $298 million. Baillie Gifford & Co. increased its stake by 17.2% during the third quarter, ultimately owning 84,904,647 shares, valued at $502 million after acquiring additional shares. Lightspeed Management Company L.L.C. and FMR LLC also bought new positions, with FMR LLC increasing its holdings by an impressive 206.1%. Currently, institutional investors collectively hold 44.71% of the company's stock.

About Aurora Innovation

Aurora Innovation, Inc. is a self-driving technology firm operating based in the United States. The company is mainly focused on developing the Aurora Driver, which combines various self-driving hardware, software, and data services to adapt and integrate vehicles. Established in 2017, Aurora is headquartered in Pittsburgh, Pennsylvania.

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For anyone considering whether to invest $1,000 in Aurora Innovation right now, it might be beneficial to gather more information.

By keeping track of top-rated analysts and their recommendations, it's noted that Aurora Innovation does not currently make the cut for the top stocks recommended by experts.

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