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

Shares of Aduro Clean Technologies Inc. (NASDAQ:ADUR) have been given a consensus recommendation of “Moderate Buy” by the six brokerages that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $29.25.

ADUR has been the topic of several research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Aduro Clean Technologies in a research report on Friday, July 17th. Zacks Research downgraded Aduro Clean Technologies from a “hold” rating to a “strong sell” rating in a research note on Friday, September 25th. Roth Capital initiated coverage on Aduro Clean Technologies in a research report on Monday, July 27th. They set a “buy” rating and a $30.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and set a $22.00 target price on shares of Aduro Clean Technologies in a research report on Wednesday, September 23rd. Finally, Wall Street Zen cut Aduro Clean Technologies from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 5th.

Hedge Funds Weigh In On Aduro Clean Technologies

Several institutional investors have recently added to or reduced their stakes in ADUR. NewEdge Advisors LLC raised its position 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 during the period. Squarepoint Ops LLC purchased a new position in Aduro Clean Technologies in the second quarter valued at about $215,000. Guardian Wealth Advisors LLC NC purchased a new position in Aduro Clean Technologies in the second quarter valued at about $630,000. Bank of America Corp DE purchased a new position in Aduro Clean Technologies in the first quarter valued at about $123,000. Finally, Longview Financial Advisors Inc. purchased a new position in Aduro Clean Technologies in the first quarter valued at about $28,000.

Aduro Clean Technologies Stock Down 3.8%

Shares of NASDAQ ADUR opened at $9.99 on Monday. Aduro Clean Technologies has a twelve month low of $9.00 and a twelve month high of $18.19. The stock’s 50 day moving average price is $13.52 and its 200-day moving average price is $13.64. The company has a market capitalization of $352.75 million, a PE ratio of -16.11 and a beta of 3.28.

Aduro Clean Technologies (NASDAQ:ADUR) last released its earnings results on Monday, August 31st. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.19). As a group, research analysts expect that Aduro Clean Technologies will post -0.40 EPS for the current fiscal year.

Aduro Clean Technologies Company Profile

Aduro Clean Technologies Inc (NASDAQ: ADUR) is a Canadian technology company developing chemical recycling and resource-upgrading solutions. Its proprietary Hydrochemolytic™ technology uses water, catalysts and controlled process conditions to convert difficult-to-process feedstocks into higher-value products.

The company’s platform is designed for applications including the conversion of plastic waste into reusable hydrocarbon feedstocks, the upgrading of renewable oils into lower-carbon fuels and chemicals, and the treatment of heavy oil and bitumen.