Aduro Clean Technologies Inc. (NASDAQ:ADUR) Stock Has Average Target Price of $29.25

Aduro Clean Technologies Inc. (NASDAQ:ADUR) has been given a consensus recommendation of “Moderate Buy” by the six analysts that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $29.25.

Several equities research analysts recently commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Aduro Clean Technologies in a research report on Thursday, October 15th. Roth Capital assumed coverage on shares of Aduro Clean Technologies in a research report on Monday, July 27th. They set a “buy” rating and a $30.00 price objective for the company. Wall Street Zen upgraded shares of Aduro Clean Technologies from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 17th. Zacks Research downgraded shares of Aduro Clean Technologies from a “hold” rating to a “strong sell” rating in a research report on Friday, September 25th. Finally, HC Wainwright reiterated a “buy” rating and set a $22.00 target price on shares of Aduro Clean Technologies in a research report on Wednesday, September 23rd.

Aduro Clean Technologies Trading Down 7.8%

Shares of ADUR opened at $9.10 on Friday. The firm’s fifty day simple moving average is $11.69 and its two-hundred day simple moving average is $12.87. Aduro Clean Technologies has a 12 month low of $8.87 and a 12 month high of $18.19. The stock has a market capitalization of $321.32 million, a P/E ratio of -20.22 and a beta of 3.39.

Aduro Clean Technologies (NASDAQ:ADUR) last posted its quarterly earnings data on Thursday, October 15th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.04. As a group, research analysts predict that Aduro Clean Technologies will post -0.42 EPS for the current fiscal year.

Institutional Investors Weigh In On Aduro Clean Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Guardian Wealth Advisors LLC NC bought a new position in shares of Aduro Clean Technologies during the 2nd quarter worth about $630,000. NewEdge Advisors LLC boosted its holdings in Aduro Clean Technologies by 18.3% in the second quarter. NewEdge Advisors LLC now owns 38,332 shares of the company’s stock worth $604,000 after acquiring an additional 5,916 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in Aduro Clean Technologies in the second quarter valued at approximately $215,000. Finally, Bank of America Corp DE acquired a new stake in Aduro Clean Technologies in the first quarter valued at approximately $123,000.

Aduro Clean Technologies Company Profile

Aduro Clean Technologies Inc is a Canadian clean technology company focused on converting difficult-to-recycle materials into higher-value chemical feedstocks. Its platform is designed to address waste plastics, renewable oils and heavy petroleum resources, including bitumen, with the goal of supporting more circular and lower-carbon industrial processes.

The company’s core technology, known as Hydrochemolytic™ technology, uses water, hydrogen and proprietary catalysts to break down challenging hydrocarbon-based materials under comparatively mild operating conditions.