10 Best Tech Stocks To Buy Right Now Under $10

4. Aurora Innovation Inc. (NASDAQ:AUR)

Number of Hedge Fund Holders: 36

Share Price as of September 10: $3.85

Aurora Innovation Inc. (NASDAQ:AUR) is a self-driving vehicle technology company that has developed the Aurora Driver, a computer system that can be integrated into vehicles, for autonomous driving to make transportation safer, more accessible, and more efficient.

Aurora driver operates multiple types of vehicles from ride-hailing passenger vehicles to freight-hauling trucks. Aurora is working with a lot of industry leaders in the transportation ecosystem like Toyota, Uber, Uber Freight, FedEx, and Volvo Trucks.

Aurora Innovation Inc. (NASDAQ:AUR) has reached 95% readiness, demonstrating progress towards safer, more efficient, and reliable autonomous driving. The system can perceive 360 degrees of the operating environment.

In May, Aurora and Volvo unveiled the Volvo VNL Autonomous truck at the ACT Expo, to transport freight between Dallas and Houston using up to 20 fully autonomous trucks without human drivers. This was a big step towards its goal of commercializing self-driving trucks by the end of 2024.

The company recently partnered with Uber Freight to offer a new program for carriers of all sizes, tripled commercial volume, and secured a significant portion of the expected 2025 capacity.

Despite innovative expansions, the company faced $182 million in net loss for Q2 2024. The loss per share was $0.09.

The demand for self-driving technology is expected to grow from $52.09 billion in 2023 to $677.23 billion by 2031. Hence, the company is expected the leverage this demand and grow substantially to lead the industry in the upcoming years. According to Insider Monkey’s database, 27 hedge funds held stakes in Aurora Innovation Inc. (NASDAQ:AUR), with total holdings worth $160.8 million.