Aduro Clean Technologies (NASDAQ:ADUR) Trading Up 7.3% – Time to Buy?

Aduro Clean Technologies Inc. (NASDAQ:ADUR) was up 7.3% during mid-day trading on Thursday . The company traded as high as $16.58 and last traded at $16.44. 210,341 shares traded hands during trading, a decline of 53% from the average daily volume of 450,901 shares. The stock had previously closed at $15.32.

Wall Street Analysts Forecast Growth

ADUR has been the subject of several recent research reports. LADENBURG THALM/SH SH upgraded shares of Aduro Clean Technologies to a “strong-buy” rating in a report on Wednesday, May 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aduro Clean Technologies in a research note on Friday, July 17th. Roth Capital initiated coverage on Aduro Clean Technologies in a report on Monday, July 27th. They set a “buy” rating and a $30.00 price objective for the company. Finally, Wall Street Zen raised Aduro Clean Technologies from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 31st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Aduro Clean Technologies presently has an average rating of “Moderate Buy” and an average target price of $29.25.

Aduro Clean Technologies Trading Up 6.9%

The stock has a market capitalization of $578.38 million, a PE ratio of -37.23 and a beta of 3.27. The stock’s fifty day simple moving average is $14.80 and its 200-day simple moving average is $13.09.

Institutional Investors Weigh In On Aduro Clean Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. NewEdge Advisors LLC grew its holdings in shares of Aduro Clean Technologies by 5.1% in the fourth quarter. NewEdge Advisors LLC now owns 33,344 shares of the company’s stock valued at $345,000 after acquiring an additional 1,604 shares in the last quarter. Wells Fargo & Company MN boosted its position in Aduro Clean Technologies by 800.0% in the fourth quarter. Wells Fargo & Company MN now owns 2,700 shares of the company’s stock worth $28,000 after purchasing an additional 2,400 shares during the last quarter. Longview Financial Advisors Inc. bought a new position in Aduro Clean Technologies in the 1st quarter valued at $28,000. Raymond James Financial Inc. purchased a new stake in shares of Aduro Clean Technologies during the 2nd quarter valued at $44,000. Finally, Virtu Financial LLC purchased a new stake in shares of Aduro Clean Technologies during the 4th quarter valued at $112,000.

About Aduro Clean Technologies

Aduro Clean Technologies, Inc is a development‐stage clean energy company that designs, develops and seeks to commercialize modular process systems for the production and purification of hydrogen. Listed on the Nasdaq under the ticker ADUR, the company focuses on low‐emission solutions to support the emerging hydrogen economy, including renewable fuel applications, energy storage and industrial gas supply. Aduro Clean Technologies aims to address the growing demand for high‐purity hydrogen across mobility, power generation and chemical processing sectors.

The company’s core technologies include its H2-Conductor platform, a membrane‐based system engineered to separate and purify hydrogen from mixed gas streams, and its H2-Integrate suite of modular reactors capable of producing hydrogen from various feedstocks.