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

Aurora Innovation, Inc. (NASDAQ:AUR) was the recipient of a large decline in short interest in December. As of December 15th, there was short interest totalling 64,740,000 shares, a decline of 15.0% from the November 30th total of 76,130,000 shares. Approximately 6.6% of the company’s stock are sold short. Based on an average daily trading volume, of 10,970,000 shares, the short-interest ratio is currently 5.9 days.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. TD Cowen boosted their price objective on Aurora Innovation from $3.00 to $4.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. Evercore ISI boosted their price objective on Aurora Innovation from $3.00 to $5.00 and gave the company an “in-line” rating in a research report on Monday, October 14th. Cantor Fitzgerald initiated coverage on Aurora Innovation in a report on Tuesday, December 10th. They issued an “overweight” rating and a $10.00 price target on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $7.00 price objective on shares of Aurora Innovation in a report on Monday, September 30th. Finally, The Goldman Sachs Group upped their target price on shares of Aurora Innovation from $2.00 to $2.50 and gave the stock a “sell” rating in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $5.70.

Aurora Innovation Trading Down 2.6 %

Shares of AUR traded down $0.17 during trading hours on Tuesday, reaching $6.30. 3,207,700 shares of the company traded hands, compared to its average volume of 9,156,111. The firm has a market cap of $10.83 billion, a price-to-earnings ratio of -12.86 and a beta of 2.86. Aurora Innovation has a 12-month low of $2.10 and a 12-month high of $8.44. The stock’s fifty day moving average price is $6.44 and its 200 day moving average price is $5.00.

Insider Activity

In related news, Director Gloria R. Boyland sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $6.30, for a total value of $189,000.00. Following the completion of the transaction, the director now directly owns 344,647 shares in the company, valued at $2,171,276.10. The trade was a 8.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Reid Hoffman sold 1,393,874 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $5.45, for a total value of $7,596,613.30. Following the sale, the director now owns 672,425 shares in the company, valued at approximately $3,664,716.25. This represents a 67.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,776,667 shares of company stock worth $48,432,337. Corporate insiders own 13.83% of the company’s stock.

Institutional Trading of Aurora Innovation

Institutional investors and hedge funds have recently made changes to their positions in the company. Souders Financial Advisors purchased a new stake in shares of Aurora Innovation during the third quarter valued at about $59,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Aurora Innovation in the third quarter worth about $60,000. Reynders McVeigh Capital Management LLC purchased a new stake in Aurora Innovation in the third quarter valued at approximately $63,000. Sigma Planning Corp purchased a new position in Aurora Innovation during the 3rd quarter worth approximately $63,000. Finally, Franklin Resources Inc. acquired a new position in Aurora Innovation during the third quarter valued at $72,000. 44.71% of the stock is currently owned by institutional investors.

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.