Aduro Clean Technologies (NASDAQ:ADUR) Stock Price Down 4% – Here’s What Happened

Aduro Clean Technologies Inc. (NASDAQ:ADUR) shares fell 4% on Thursday . The company traded as low as $14.60 and last traded at $14.8160. Approximately 186,261 shares were traded during trading, a decline of 58% from the average session volume of 447,478 shares. The stock had previously closed at $15.43.

Analyst Upgrades and Downgrades

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

Aduro Clean Technologies Price Performance

The stock has a market cap of $524.32 million, a P/E ratio of -33.74 and a beta of 3.27. The firm’s 50-day moving average price is $14.96 and its 200-day moving average price is $13.28.

Hedge Funds Weigh In On Aduro Clean Technologies

Several institutional investors have recently bought and sold shares of ADUR. Longview Financial Advisors Inc. purchased a new stake in Aduro Clean Technologies in the 1st quarter worth $28,000. Wells Fargo & Company MN grew its position in shares of Aduro Clean Technologies by 800.0% during the fourth quarter. Wells Fargo & Company MN now owns 2,700 shares of the company’s stock valued at $28,000 after purchasing an additional 2,400 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Aduro Clean Technologies in the second quarter worth about $44,000. Virtu Financial LLC bought a new stake in shares of Aduro Clean Technologies in the fourth quarter worth about $112,000. Finally, Bank of America Corp DE purchased a new stake in shares of Aduro Clean Technologies in the first quarter worth about $123,000.

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.