Aurora Innovation Inc (NASDAQ: AUR): Why Investors Shouldn’t Ditch AUR Stock In 2023

In the latest trading session, 2.33 million Aurora Innovation Inc (NASDAQ:AUR) shares changed hands as the company’s beta touched 2.73. With the company’s most recent per share price at $2.32 changing hands around $0.12 or 5.45% at last look, the market valuation stands at $3.53B. AUR’s current price is a discount, trading about -68.97% off its 52-week high of $3.92. The share price had its 52-week low at $1.10, which suggests the last value was 52.59% up since then. When we look at Aurora Innovation Inc’s average trading volume, we note the 10-day average is 6.25 million shares, with the 3-month average coming to 7.58 million.

Analysts gave the Aurora Innovation Inc (AUR) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.33. If we narrow down to specifics, the data shows that 0 out of 6 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 4 recommended AUR as a Hold, 2 felt it is a Buy and 0 rated the stock as Underweight. Aurora Innovation Inc’s EPS for the current quarter is expected to be -$0.15.

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Aurora Innovation Inc (NASDAQ:AUR) trade information

Instantly AUR is in green as seen in intraday trades today. With action 26.09%, the performance over the past five days has been green. The jump to weekly highs of 2.34 on Friday, 11/17/23 added 5.45% to the stock’s daily price. The company’s shares are showing year-to-date upside of 91.74%, with the 5-day performance at 26.09% in the green. However, in the 30-day time frame, Aurora Innovation Inc (NASDAQ:AUR) is 27.47% up. Looking at the short shares, we see there were 57.48 million shares sold at short interest cover period of 10.99 days.

The consensus price target for the stock as assigned by Wall Street analysts is $4.05, meaning bulls need an upside of 42.72% from its recent market value. According to analyst projections, AUR’s forecast low is $1.75 with $7.00 as the target high. To hit the forecast high, the stock’s price needs a -201.72% plunge from its current level, while the stock would need to tank 24.57% for it to hit the projected low.

Aurora Innovation Inc (AUR) estimates and forecasts

Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Aurora Innovation Inc will rise 40.00%, while the growth in revenue is estimated to hit 17.60% for the next quarter.

The company’s revenue for the corresponding quarters a year ago was $2 million.

The 2023 estimates are for Aurora Innovation Inc earnings to increase by 58.41%.

AUR Dividends

Aurora Innovation Inc is expected to release its next quarterly earnings report between February 15 and February 19.

Aurora Innovation Inc (NASDAQ:AUR)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 46.21% of Aurora Innovation Inc shares while 37.75% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 70.18%. There are 37.75% institutions holding the Aurora Innovation Inc stock share, with T. Rowe Price Investment Management, Inc. the top institutional holder. As of Jun 29, 2023, the company held 4.98% of the shares, roughly 53.99 million AUR shares worth $158.75 million.

Vanguard Group Inc holds the second largest percentage of outstanding shares, with 4.20% or 45.54 million shares worth $133.9 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Price (T.Rowe) Capital Appreciation Fund and Vanguard Total Stock Market Index Fund. With 34.67 million shares estimated at $101.92 million under it, the former controlled 3.20% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 1.21% of the shares, roughly 13.15 million shares worth around $38.66 million.

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