Aurora Innovation, Inc. (NASDAQ:AUR) Sees Large Growth in Short Interest

Aurora Innovation, Inc. (NASDAQ:AUR) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 55,360,000 shares, an increase of 7.3% from the March 15th total of 51,580,000 shares. Currently, 7.6% of the shares of the company are sold short. Based on an average daily volume of 6,850,000 shares, the days-to-cover ratio is presently 8.1 days.

Aurora Innovation Trading Down 2.3 %

Shares of NASDAQ AUR traded down $0.07 during trading hours on Monday, reaching $3.00. The stock had a trading volume of 5,702,070 shares, compared to its average volume of 6,946,840. The business’s fifty day moving average price is $2.73 and its two-hundred day moving average price is $2.73. The firm has a market cap of $4.61 billion, a price-to-earnings ratio of -4.92 and a beta of 2.91. Aurora Innovation has a 52-week low of $1.28 and a 52-week high of $4.81.

Aurora Innovation (NASDAQ:AUR) last issued its quarterly earnings data on Wednesday, February 14th. The company reported ($0.13) EPS for the quarter.

Wall Street Analyst Weigh In

AUR has been the subject of several research analyst reports. Canaccord Genuity Group raised their target price on shares of Aurora Innovation from $5.50 to $6.00 and gave the company a “buy” rating in a research note on Friday, March 15th. The Goldman Sachs Group cut Aurora Innovation from a “neutral” rating to a “sell” rating and lifted their target price for the stock from $1.75 to $2.00 in a report on Wednesday, January 3rd. Finally, TD Cowen dropped their price target on Aurora Innovation from $3.50 to $3.00 and set a “market perform” rating for the company in a research note on Friday, March 15th.

Insider Buying and Selling

In other news, Director Reid Hoffman sold 1,000,000 shares of Aurora Innovation stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $2.52, for a total transaction of $2,520,000.00. Following the transaction, the director now directly owns 463,563 shares of the company’s stock, valued at approximately $1,168,178.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 13.83% of the stock is owned by insiders.

Hedge Funds Weigh In On Aurora Innovation

A number of large investors have recently made changes to their positions in AUR. Parallel Advisors LLC raised its position in shares of Aurora Innovation by 91.9% in the 4th quarter. Parallel Advisors LLC now owns 7,100 shares of the company’s stock valued at $31,000 after purchasing an additional 3,400 shares during the last quarter. Headlands Technologies LLC acquired a new position in Aurora Innovation during the 4th quarter valued at approximately $41,000. KBC Group NV purchased a new position in shares of Aurora Innovation in the fourth quarter worth $49,000. Blueshift Asset Management LLC acquired a new stake in shares of Aurora Innovation during the fourth quarter worth $53,000. Finally, Commonwealth Equity Services LLC purchased a new stake in shares of Aurora Innovation during the third quarter valued at $27,000. 44.71% of the stock is owned by institutional investors and hedge funds.

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.